In today’s growing digital world, new innovations and creative projects are introduced continuously. An example would be the cryptocurrency market – a project that is still in its early stages. There are financial experts that label the cryptocurrency market as a scam and a fraud, reasoning that cryptos can not be applied and have no usage in the real world; and that is where coins like Nano come into play. Being very efficient and useful, Nano is a coin that everybody should turn their eyes on. But what is the future of NANO? Will the price of the coin reach its previous all-time high? How will you benefit from this coin? Throughout this article, we will do our best to explain what NANO is, how it works, and how its utility affects its price.
What is Nano (NANO)?
First of all, Nano is a project that was founded in 2014 by an experienced software developer and engineer named Colin LeMahieu. The initial project was named RaiBlocks (XRB) and was not rebranded until the beginning of 2017 when it got the name we all identify it with today – Nano. As with most cryptocurrencies, Nano is a peer-to-peer platform that allows users to easily transfer assets between one another without the need for a middle-man. However, Nano does not use proof-of-work to achieve consensus, instead, Nano does this through a unique block-lattice data structure. Nano is known as “digital money for the modern world” because it addresses some of the major limitations both the traditional financial institutions and many other cryptocurrencies have.
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How Does Nano (NANO) Work?
As said before, NANO serves the same purpose as many other cryptocurrencies. However, what distinguishes Nano from other cryptocurrencies is the above-mentioned block-lattice data structure. Through this structure, Nano claims to achieve instant transactions with zero fees and infinite scalability (unlimited number of transactions). Major crypto that we can compare Nano with is Bitcoin (BTC). For a transaction to be made in the BTC blockchain, it takes a minimum of 10 minutes; however, when using NANO, transactions often require only 1 second to be fully confirmed.
What is Block-Lattice Data Structure?
Nano uses a block-lattice data structure for its transactions; but what is a block-lattice data structure and how does it differ from traditional blockchain? To better illustrate the difference between the latter, we can again compare NANO with BTC. Bitcoin’s blockchain hosts all user accounts on the main chain, while Nano’s structure has each account designed as an independent chain. This structure basically transforms a shared ledger, like that of Bitcoin’s, into a group of non-shared asynchronous ledgers. That being said, each account chain can only be updated by the account’s owner because each block in the chain must be signed by the account’s private key.
Nano (NANO) Price History
Because NANO is not that new to the cryptocurrency market, it has been tested by the market many times. At the time it was released, the rebranded NANO joined the market at a price of $0.009 in March 2017. However, NANO did not sit for long at that price since it joined the other cryptocurrencies on the bull run that occurred just 9 months after its rebranding. During the 2018 bull run, NANO broke its all-time high by skyrocketing and reaching a price of $33.27. But just as for every other cryptocurrency, this did not last long for NANO either, with its price plummeting to around $1.38 in August.
At the time of writing, NANO has a price of $10.21, a price that is 69.40% lower than its all-time high. Having a trading volume of $167 million and a market capitalization of $1.3 billion NANO is positioned at a market rank of 81. Considering the past of this revolutionary coin, let us proceed and talk about its future.
Nano (NANO) 2021 Price Prediction
Since the cryptocurrency market is still emerging and is in its early stages, most experts predict that many coins might experience steady growth over the years. The same thing applies to NANO. Experts from DigitalCoinPrice predict that the token may continue to grow and reach a price of $15.62 by the end of 2021. Additionally, they predict that the upcoming days could not introduce many price changes when it comes to the token, portraying some stability on its price for a while.
The price of the coin is predicted to sit somewhere between $15 to $20 throughout the year, about 50-100% higher than the price that it has today. If we compare the charts of the run that the coin had in 2018, we can see that NANO is still getting ready to achieve its full potential in regards to this bull-run.
Long-term Price Predictions Nano (NANO) 2022, 2023, 2024 and 2025
Because of its utility, NANO is predicted to have a bright future, experiencing a steady growth in price as more people and businesses start using it. In 2022, GovCapital predicts that the price of NANO may jump between $7.96 and $9.46 throughout the whole year, witnessing a small price increase of 18.8%. Just as for 2022, NANO may experience a small price increase of 23.6%, with its price jumping between $9.24 and $11.42. 2024 may prove more interesting for NANO, which could possibly hit prices as low as $9.23 and as high as $20.43. According to GovCapital, the same cannot be said for 2025 during which year the price of NANO might stumble and have a high of only $16.93.
Oppositely, DigitalCoinPrice predicts that in the next five years, NANO may experience price increases as high as 209.2%, giving the token a price of $48.30. They indicate that NANO may have a future filled with steady growth, increasing about 34.4% annually. According to this prediction, Nano could serve as a good investment and prove beneficial for the ones who decide to hold it as a long-term investment (HODL).
Can NANO Hit $100?
When it comes to NANO, the price of $100 is a possibility – and that is because of many factors. However, in order to achieve the price of $100, NANO needs a market cap of only $13.3 billion, and that is because NANO has a max supply of 133 million coins. Being this useful and efficient while having a low supply could make the $100 target a possibility for Nano.
What Potential Factors Can Affect the Price of Nano (NANO)?
Nano (NANO) is truly a revolutionary coin that has way more utility and is more efficient than most of the coins in today’s cryptocurrency market. However, as for every other cryptocurrency, there are many factors that affect its price and how well it does on the market. For NANO, the main factors that can affect its price are Supply, Implementation, and Uniqueness.
Supply
For every cryptocurrency, the supply of their particular token is very important. Nano (NANO) has a max supply of 133 million and 100% of that supply is circulating at the time of writing. The capped, low supply of NANO, will be a major upside for its price since the impact that investment has on a coin is based on the supply of that coin. For example, if we compare the supply and market capitalization of Nano (NANO) and BitTorrent (BTT), we can see that BTT has 2x the market cap of NANO, however, 1 NANO is worth $10.21 while 1 BTT is worth only $0.005. This is because BTT has a supply of over 659 billion, affecting the price of the coin enormously. Another example would be comparing the supply and market cap of Nano (NANO) with that of Bitcoin (BTC). If BTC had the supply of NANO, it would be sitting at a price of around $4300, x10 less than the price it has now.
Implementation
As previously touched upon, the cryptocurrency market is still in its early stages, and because of that, many international and national businesses and corporations are hesitant when it comes to accepting it as a form of payment for their services or products. However, as time passes by, more and more entrepreneurs and innovators – as Elon Musk – are trying to promote the cryptocurrency market, increasing its credibility in the eyes of other business owners and pressuring them into implementing it. As for NANO, its instant transactions and infinite scalability may serve as reasons why it should be accepted as a form of payment. The implementation of this form of payment will serve NANO as a big boost in its price and it may drastically affect its future – for good. The more people use it, the more will its price skyrocket.
Uniqueness
As mentioned before, Nano (NANO) offers instant transactions with zero fees and infinite scalability through a structure known as a Block-Lattice Data Structure. It is the only ‘major’ cryptocurrency that uses this type of technology to secure transactions on its network. Through this technology, NANO offers instant transactions which are suitable for commercial payments, making every payment more time and cost-efficient. Also, without the need to have a huge network of miners all around the world that use enormous amounts of electricity to secure the network, NANO serves as an eco-friendly alternative to major cryptocurrencies.
Where to Buy NANO?
Even though not so popular, many major cryptocurrency exchanges have listed NANO. At the moment of writing, you can buy Nano at some of the world’s biggest crypto exchanges like Binance, Huobi Global, and CoinBene. Something that you should look at while buying any cryptocurrency, including NANO, is the fees that come with buying it in that specific exchange. As for the moment, Binance may be the best option out there, having fees as low as 0.1%.
What’s Next for Nano (NANO)? What to Expect in 2021?
Beginning its journey in 2014 as a coin with a totally different name, Nano (NANO) has undergone a lot of changes and improvements. This serves as an indicator that NANO is a serious project with a bright future. More recently, it was announced that among many new notable employees on the Nano Foundation, was George Coxon, a graduate in Evolutionary Anthropology. Having a good team is what pushes a cryptocurrency to its limits, and NANO can be taken as the perfect example.
Is NANO Coin Worth Buying?
Generally speaking, Nano (NANO) has not let investors down until today. Even though it is rarely mentioned in the media, NANO is not slowing its growth down, experiencing a doubling in its price just last week. If you were to invest in NANO after it was rebranded, you would be sitting with an x1000 investment today. Designed to be fast, NANO does serve its purpose perfectly fine and it is the go-to crypto if you are looking for credible and useful crypto with a serious and dedicated team behind it. As life gets more dynamic, people are looking for alternatives to save them time and money, and when it comes to digital payments, NANO provides them with just that. That being said, NANO should prove itself beneficial for you just as it proved beneficial for many investors and holders until today.
Takeaways
- Nano (NANO) is a token built on a Block-Lattice instead of a single blockchain, making it extremely fast and free.
- Nano serves as a digital currency as it is often called “digital money for the modern world” because of its efficiency and utility.
- Nano offers instant transactions, no transaction fees, and infinite scalability.
- Nano serves as an eco-friendly alternative to Bitcoin (BTC), Ethereum (ETH), and other major cryptocurrencies that require huge amounts of electricity for their networks to survive.
- The price of NANO tokens has surged during the last month and it is expected to continue doing so in the upcoming weeks.
- Having a low supply makes NANO a cryptocurrency with huge potential.
- Nano is highly decentralized, having the vast majority of Nano accounts holding less than 100 NANO.
- Nano (NANO) is the successor of RaiBlocks (XRB).
- Investing in NANO is encouraged by many crypto experts.