Nano (XNO) Price

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About Nano (XNO) 

Nano is digital money in its most efficient form. 

It can be sent, spent and accepted anywhere in the world, securely, in a fraction of a second. So, whether you want to buy your morning coffee, settle a bill, or pay someone on the other side of the planet, you can do it with nano.

As we learned earlier, nano was given away for free using an innovative distribution system. But not only is nano free to get hold of, it is also totally free to use. This is down to the unique way the nano network is structured. 

When two users of a cryptocurrency want to make a transaction, the network must approve it before it can be completed. There are many ways this can be done but the nano method is unique.

To verify every transaction, the nano network uses something called Open Representative Voting (ORV). Basically, once you hold nano, you can vote for a representative using your nano balance. This representative then confirms the transaction as soon as it becomes visible. 

Anyone who holds nano can be a representative and anyone can change their vote at any time. 

The whole process is collaborative, meaning there is no money for being a representative, only the continued development of the network as a whole. This keeps it free for everyone. 

So, the ethos of the Nano Foundation - equality and opportunity for all - not only drives the Foundation, but also underpins the technology of the nano network itself.