Nano (NANO) announces its latest update, lawsuits withdrawn

It’s not been a bad week for Nano…

by Manoj Sharma for CNR

Rebranded from Railblocks to Nano at the start of the year to give it a slightly friendlier sound, the speedy coin has impressed the crypto community with its technological potential many times. The team wanted a name that emphasizes the simplicity and speed of the project, and Nano was the one chosen. The logo, designed by the Core team, uses multiple nodes, playing on the block-lattice framework of the network that connects to form an “N”.

Some background on Nana. The speed of cryptocurrencies and the high transaction rate has bothered many crypto proponents for a long time. Nano addresses both the problems. It is faster, more efficient and cheaper than Bitcoin Cash with no fees involved, making transaction spontaneous. By rejecting the blockchain method and ‘mining’ process introduced by Bitcoin, Nano has been able to make a single transaction almost instantaneously.

Earlier, the cryptocurrency was facing a lawsuit against its founding members. However, in a Medium post published this week, Nano declared that the Brola lawsuit and other complaints have been withdrawn and that they are launching a new update and getting their official page on InvestFeed.

And so we arrive at the latest update. The Core team has observed that it needed to release v16.1 as soon as possible because of the syncing issues experienced by the users with v16.0, concluding with the backtracking to v15.2.

“This allows accounts to chain to the Genesis block of the network with minimal ad-hoc votes, and only if a node is interested in that account in the future! Real-time voting will be entirely passive. This means that most blocks will be voted on directly exactly once, resulting in a drastic reduction in, ultimately, wasted votes”, went the official announcement.

The update is available now.

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