After rebranding from RaiBlocks (XRB) to Nano (NANO), the brand new look coin looks to have hit the ground running. The positive surge in price seems to have been inspired not only by rebranding but the platforms focus on scalability. This promising coin presents real-time transactions with zero fees; characteristic of a coin of the future.
The rebranding and subsequent social media hype around the new name and logo contributed its surge in January. Previously the NANO coin was trading at $0.25 and jumped to nearly $35 towards the middle of the month before stabilizing at $14.02 10:24am PST Jan. 30. This was at the backdrop of the recent slump in the cryptocurrency market. The question too many is; will lady luck continue to smile longer for the new blockchain rebranded entrant?
Will Nano (NANO) Survive where RaiBlock (XRB) Failed?
The core development team at RaiBlocks wanted a name that consumers can identify with. NANO coin is seen as to represent their core value in the market: simplicity and speed. The change of web address is a clear indication of the drastic move and their social media accounts attest to this fact. Cryptocurrencies are sensitive to news especially social media ones; these do make or break digital currencies in minutes.
Ranked 24th in terms of market capitalization ($1,159,344,063) and a total supply of 133,248,289 NANO coin could go either way given the unregulated and speculative cryptocurrency market. However, with the current price standing at $8.99 (11.98%), there is a lot of interest around it and the traction seems to be gaining momentum.
Nano (NANO) User Cases
By looking at the Nano (NANO) cases, you will realize that it is aimed at user satisfaction and affordability. With the new system, you get the best trade pairing and you do not have to spread your online wealth in different platforms. This is a one top shop for all your cryptocurrency trades. All Nano transactions are free which is ideal for small and big traders.
Nano offer the best micro payment proposition. With the Nano wallet, you can use the token to pay rent, splitting the bill at your local joint or settling your utility bills. With real time transactions, you do not have to wait at the point of sale to pay after shopping; the system is seamless as long as there is internet connectivity.
If you are an online shopper, this is the ideal coin to use for convenience. You are able to transact in the smallest amount for any digital products. You can use it online to subscribe to your favorite content site or just pay for your hobbies. There are no restrictions as long as the vendors are NANO participants or subscribers.
When integrated with various systems, NANO will be seamless during check out whether online or in store. You do not have to use complicated systems to purchase. This is a business to consumer centric application that takes care of small to large scale transactions in a peer-to-peer setting. It is user friendly and you do not need to be tech-savvy to come onboard.
Nano (NANO) goal is to provide practical solutions that Bitcoin blockchain technology did not attempt to address. It gives its users the true meaning of scalability, simplicity and top notch transaction speeds at zero fee. With the cost of BTC transactions increasing and speeds dropping, Nano offers a way out.
The current NANO growth is catalyst to spur increased uptake. There is a lot of trust around the coin but investors are treading with caution. With the cost and speed being the driving force, much is yet to be seen how the consumer will react especially on micro-transactions.