Nano project purpose and description

Short description

Launched in 2015 by Colin LeMahieu as RaiBlocks, Nano is a low-latency payment platform that requires minimal resources; making Nano ideal for peer-to-peer transactions.

Abstract

Recently, high demand and limited scalability have increased the average transaction times and fees in popular cryptocurrencies, yielding an unsatisfactory experience. Here we introduce Nano, a cryptocurrency with a novel block-lattice architecture where each account has its own blockchain, delivering near instantaneous transaction speed and unlimited scalability. Each user has their own blockchain, allowing them to update it asynchronously to the rest of the network, resulting in fast transactions with minimal overhead. Transactions keep track of account balances rather than transaction amounts, allowing aggressive database pruning without compromising security. To date, the Nano network has processed 4.2 million transactions with an unpruned ledger size of only 1.7GB. Nano’s feeless, split-second transactions make it the premier cryptocurrency for consumer transactions.

Link to Roadmap: https://github.com/clemahieu/raiblocks/wiki/Roadmap
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