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Comment by posnet | Hacker News Reader

Have you considered the reason that it's not popular is not some elaborate conspiracy theory, but rather that it is yet another cookie cutter product entering the already extremely saturated alt coin market? Especially as your listed features are also listed on half a dozen other coins/chains as well.

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It's not though. It's been around since 2015, it uses multiple novel crypto concepts not seen in any other coin and elegantly solves every traditional problem with Bitcoin (fees, speed, energy, centralization) unlike those cookie cutter copy coins on the market.

The main reason it's not well known, is people like you. You made no effort to learn about it before dismissing it, just like you did for Bitcoin first time you heard about it.

Nano white paper: https://content.nano.org/whitepaper/Nano_Whitepaper_en.pdf

The project has 2800 stars on Github and many redditors are talking about it.

https://github.com/nanocurrency/nano-node

Stars don’t equate to usage.

Reddit channel has 59,940 Members by today(https://www.reddit.com/r/nanocurrency/)

Channel membership does not equate to usage.

https://nanocrawler.cc/status

269 peers, 104 representatives (I presume stakers)? Ethereum has over 10 000 Eth1 nodes online, and 75 000 stakers (+14 000 queued) currently validating the Eth2 network.

https://nanocrawler.cc/network

"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"

I might be misunderstanding something but how can you have a secure chain without any form of fee?

"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. Account owners can still use funds without restrictions as no staking is involved and the representatives have no control over funds, they just get voting rights from them."

ref: https://nano.org/

OK, so it's a proof-of-stake system in terms of how supply is distributed, and proof-of-work must be performed by clients as an attempt to prevent large scale spam. Those with the most coin get to greatly influence the correctness of the chain when forks occur.

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