Brola Lawsuit Against NANO Dismissed, investFeed Goes Live and New Update Launches
Brola Lawsuit Against Nano Lifted, Leading Platform to Celebrate with Update
Nano (NANO) is working on their platform to become the next digital currency of the world, though they had much different beginnings. Originally, they were called Raiblocks, and they were the first cryptocurrency platform that came to the result of countries that experienced major economic and political struggles, like citizens in Zimbabwe and Venezuela.
Their tokens were distributed accordingly with no fee for users, but it seems that this opportunity was not met with a positivity by everyone. Silver Miller, a law firm within the United States, was retained by investors in a class action lawsuit. This lawsuit claimed that there were key members of Nano, along with Nano itself, that were in violation of multiple securities laws. They claimed that Nano was pushing their token to investors via BitGrail, even though $170 million of the XRB token was reported stolen by BitGrail earlier this year.
On October 1st, Nano took to their official Medium blog to say that Silver Miller has withdrawn the lawsuit. Based on the information provided by the blog, it seems that the case lacked enough merit to pursue, so the plaintiff stopped the case from progressing.
Right now, between the lawsuit dropping from their radar and the new developments on the platform, it’s a good week for Nano. To celebrate their release from this case, which could’ve been detrimental to their functioning, they are showing the community that they are still on top of their developments with an update. The update should correct the issues that arose, resulting in the lawsuit in the first place. However, once this is handled, Nano will also be establishing an official page on investFeed.
The new update was received a warm welcome from the community. In the release regarding the update, the company confirmed that there would be an additional feature, referred to as “Lazy Bootstrapping.” The company elaborated, saying,
“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.”
With the release of the update, there’s also the listing on investFeed. investFeed is a platform that is designed for blockchain technology with social media. There is access to real-time data regarding coin prices and other details. This will also provide an opportunity for users to learn about the latest innovations in blockchain projects.