Nano
Crypto Overview
Project Overview
Nano (XNO), formerly known as RaiBlocks, is a cryptocurrency designed specifically for efficient peer-to-peer value transfer. The project utilizes a unique block-lattice architecture where each account has its own blockchain, enabling instant and feeless transactions.
Intended Utility
The primary purpose of Nano is to serve as a pure medium of exchange, focusing on fast, feeless, and environmentally friendly transactions. Unlike many cryptocurrencies, Nano does not support smart contracts or complex financial instruments - it maintains a singular focus on efficient value transfer.
Actual Utility and Adoption
Current usage aligns well with intended utility. The network processes genuine transactions daily, with several merchants and services accepting XNO as payment. The 2WeekNano project tracks actual merchant adoption and usage statistics, showing consistent real-world implementation.
Technical Implementation
Nano uses a Proof of Stake variant called Open Representative Voting (ORV), which is energy efficient and does not involve mining rewards or inflation. All coins were distributed through a captcha-based faucet system, with no ICO or pre-mine.
Token Distribution
The initial distribution was conducted through a fair faucet system from 2015 to 2017. No tokens were reserved for founders or developers. The entire supply of 133,248,297 XNO is already in circulation, with no ability to create new tokens.
Development Activity
The Nano Foundation maintains active development with regular GitHub commits. The project demonstrates consistent technical progress with protocol improvements and node software updates.
Revenue Model
The project operates without fees, mining rewards, or staking returns. The Nano Foundation is funded through a development fund consisting of tokens received during the initial distribution.
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.