Nano is a decentralized autonomous blockchain network originally designed and developed in 2014. Nano’s distributed ledger technology at work i is designed for a similar purpose as Bitcoin’s — as a digital payment method that can facilitate global transactions.
The difference is that Nano does so using a unique consensus model known as Open Representative Voting (ORV) on its live network. Nano has undergone several version updates since its initial release in 2015 is in its 23rd iteration at the time of writing.
XNO is Nano’s native cryptocurrency.. Previously called NANO, its name was changed in November 2021 to comply with International Organization for Standardization (ISO) rules. XNO is promoted as an eco-friendly crypto coin largely due to Nano’s ORV consensus model, as energy output is much lower in the voting consensus mechanism compared to proof-of-work (PoW) and other mining models.
XNO holders can select network validators who don’t collect rewards or transaction fees but instead, work within the blockchain to maximize network efficiency. Like all cryptocurrencies, XNO price typically varies according to current market conditions. Updated XNO price is available on Binance.