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Ray Alvarez
news
Reading time: 4 min
Date: 30th Apr 2021

NANO is Coming to MarketSquare

As we continue working towards the launch of MarketSquare beta, we want to share with you some of the great projects and services that are joining us. If you haven’t signed up for MarketSquare Beta , there is still time. We also recently released an article detailing Hubs on MarketSquare. Today, let’s welcome NANO to MarketSquare!

Introducing Nano

Nano is decentralized, sustainable and secure digital money focused on addressing the inefficiencies present in existing financial systems. Uniquely designed to provide simple peer-to-peer transfer of value, Nano empowers individuals with the most efficient and accessible digital money possible, connecting them to the global economy with minimal impact.

The Nano protocol offers fee-less and instantaneous transactions. Nano accomplishes this by using a data structure called Block Lattice, in which each account has its own blockchain to keep transactions. Instead of paying miners, Nano holders delegate voting weight to elect network validators. The validators do not earn block rewards or transaction fees. Instead, they contribute voluntarily and enjoy the natural incentives provided by the ecosystem.

The consensus mechanism, called Open Representative Voting (ORV), also provides useful differentiation from other networks. Consensus is reached through representatives voting on the validity of individual blocks shared on the network. The voting weight for each representative is assigned to them by the account owners and is in proportion to the Nano in those accounts. The representatives have no control over funds, they just get voting rights from them.

5 key attributes that make nano an optimal digital payments currency:

  1. It’s a currency, not an asset. Send, spend and accept nano in real-time vs. buy, hold and sell based on market valuation.
  2. There are no hidden fees. Transacting with Nano ensures that 100% of the value is transferred directly to the recipient. C2B, B2B and C2C – regardless of transaction size or type!
  3. It’s lightning-fast. Sending money across the counter or around the world is almost instantaneous.
  4. It’s owned by everyone. Decentralized and democratized, nano is inflation and manipulation resistant by design.
  5. It’s eco-friendly. It doesn’t rely on mining or other machines to hold its value. Nano has a carbon-neutral footprint.

Nano provides an intuitive experience that feels like digital currency should - no fuss, no fees, no waiting. This is what an accessible and easy-to-use digital money experience should feel like.

Supported by the Nano Foundation

Nano was created and is maintained by a not-for-profit organization, the Nano Foundation , to empower equal economic opportunity. The primary focus of the Nano Foundation is the development of the protocol, supporting organic ecosystem growth and fostering adoption. The prioritization of partnerships are predominantly focused on increasing the availability of nano being accepted as a form of payment.

The Nano Foundation is committed to equal economic opportunity and believes that nano, a currency to be spent, sent and accepted as real money in the real world, is the first step. The Nano Foundation believes in empowering people and businesses with education, advice, opportunities and most importantly a digital currency resilient to the manipulation, fees and complexity of traditional currencies traded the world over.

NANO on MarketSquare

Once the MarketSquare beta goes live, we will be onboarding all of the great projects we have joining us. One of the things we are doing through MarketSquare is that we are creating educational content in the form of short videos that explain projects, concepts and the like in a very distilled and easy-to-understand way.

Check out “What is Nano?”

While you wait for the MarketSquare Beta, be sure to sign up at MarketSquare.io and subscribe to our YouTube channel.

We are happy to be welcoming NANO to MarketSquare and provide resources to learn about all the services and projects making strides within our industry. Recently we have been working hard on preparing MarketSquare for our upcoming beta. In addition, we have revealed what our Hubs on MarketSquare will look like as they begin to take shape. Make sure to stay tuned to our social channels and join our communities in order to stay up to date on the latest MarketSquare news and updates.

Make sure to join MarketSquare by becoming a part of our growing community on Discord , YouTube and Twitter .

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