Nano is a decentralized asynchronous network focused on addressing the inefficiencies of existing digital currency and payment systems. It uses a new directed acycles (DAG) architecture called Block Lattice, in which each user who transacts on a network has its own blockchain that updates asynchronously with the rest of the network. NANO transactions are therefore very fast, with an average processing time of less than a second. Transactions on the Internet are also free; A key feature designed to benefit all users and encourage decentralisation across the network.

Act as "the digital currency of the modern world" by making simple peer-to-peer value transfers across the globe.

Since bitcoin's creation in 2009, there has been an increasing shift from traditional financial systems to cryptographic-based payment systems that store and move money in ways that require no trust or security. But increasing transaction times, rising fees and severely limited scalability have raised questions about whether bitcoin can be used as an everyday currency.

Nano was launched in October 2015, and the initial distribution was done through the unique CAPTCHA spearhead system, which aims to distribute Nano "as fairly and organically as possible". The faucet requires users to complete a complex CAPTCHA test to get the NANO. So instead of spending computing resources (for example, bitcoin) to mine coins, the faucet allows anyone with a computer to participate by donating time and effort. To achieve its mission, the Nano is built on a directed acyclic graph (DAG) network structure: the Block Lattice. In Block Lattice, each account has its "own blockchain" to track transactions. Since transactions are free, the account is required to perform certain proof-of-work (PoW) tasks to send transactions to prevent Sybil attacks. In addition, Nano uses a unique and effective consensus mechanism called open Delegate Voting (ORV) : votes are associated with confirmations on the network, and voting nodes (on the Nano network) are called delegates.

The Nano is used in a variety of payment scenarios. Nano token holders can vote by proxy to elect network validators.

The consensus mechanism adopted is the entrustment proof of interest (Dpos). Users can vote out the nodes they trust to jointly maintain the system. For example, when a published transaction conflicts or "forks" with the validator, the node notifies the other nodes of the conflict, and within 1 minute the DPOS representative votes for the actual chain, and the other one is abolished.

Easy to use and no fees: By focusing on transferring value as efficiently as possible, the Nano network can offer free transactions that enable users and service providers to easily enjoy the powerful and cost-saving qualities of digital currency. Green: Instead of relying on energy-intensive mining to ensure safety, the Nano uses a lightweight and efficient consensus protocol called open Representative Voting (ORV) to minimize energy consumption. Instantaneous transactions: Digital currencies should be fast and easy to use. Whether buying goods in a store, transferring money across borders or paying online, transactions in the Nano can be fully confirmed in less than a second. And these are fully settled payments over the network, with businesses no longer having to wait for credit card or banking network approval.

DAG technology is one of the hot technologies of blockchain, and IOTA and Nano, as its representative projects, are often compared. There are indeed overlaps between the two projects in function and usage, but there are also obvious differences. IOTA uses a global DAG data structure (Tangle), where each node represents a complete transaction, while Nano uses a lattice block structure, where each account has an independent blockchain. IOTA's consensus mechanism is POW+ coordinator, which means they can freeze user funds at any time, which has happened before, while Nano's consensus mechanism is DPoS+POW, which is relatively safer. A stack of continuous IOTA proof of work (PoW) transactions will rely more on high network support, whereas Nano is voted on and has much lower operating costs. IOTA must first be discovered through probabilistic algorithms, while Nano is easy to find the last block of each account chain, account blocks are constantly added. Finally, IOTA is machine-to-machine fee-free transactions, while Nano is instantaneous transfers and peer-to-peer payments.

In general, Nano's zero-handling fee, instantaneous transfer and micro-payment functions are very practical. It needs to wait for the technology to stand the test, the promotion to implant in people and the market recognition. If the Nano stands out from the rest of the world, it could become a way of paying for cryptocurrencies that are widely used in everyday life.