Nano
Crypto Overview
Overview
Nano (XNO), formerly known as RaiBlocks, is a digital payment protocol designed to be fast, feeless, and environmentally friendly. It employs a unique block-lattice architecture where each account has its own blockchain, enabling instant transactions and infinite scalability.
Purpose and Utility
The primary purpose of Nano is to serve as a pure medium of exchange for instant, feeless value transfer. Unlike many cryptocurrencies, Nano does not attempt to be a smart contract platform or include additional features - it focuses solely on being an efficient payment system.
Business Model
Nano's business model is straightforward and transparent. The entire supply was distributed through a captcha faucet system, with no ICO or pre-mine. There are no fees for transactions, and the network is maintained by representatives who operate nodes voluntarily. The protocol doesn't involve any lending, interest, or other potentially problematic mechanisms from an Islamic perspective.
Real-World Adoption
Nano has achieved notable adoption for its intended use case, with active communities in various countries using it for remittances and everyday transactions. The network regularly processes thousands of transactions daily, demonstrating actual utility as a payment system.
Development Activity
The Nano Foundation maintains active development of the protocol, with regular updates and improvements to the network. The project has an active GitHub repository and a dedicated team of developers working on protocol improvements and network optimization.
Token Distribution
The entire supply of Nano is in circulation, with no additional tokens to be created. The distribution was completed through a faucet system that allowed anyone to earn tokens by solving captchas, leading to a relatively fair distribution model.
Crypto Impact
To assign a comfort level investing in Nano from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Nano.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.