Nano RaiBlocks Rebrand: New Crypto Blockchain & Wallet?
RaiBlocks (XRB) just rebranded to Nano. Today, you can find the project’s online home at Nano.org. Let’s take a closer look at what you need to know about Nano.
What is Nano.org?
Nano.org is the online home of the cryptocurrency formerly known as RaiBlocks or XRB.
That currency has made headlines throughout January 2018 for its huge price surge. Priced at around $0.10 in December, the price of XRB surged to highs of around $20. RaiBlocks made headlines throughout the month due to its instant transaction times and cheap costs.
Then, in late January 2018, RaiBlocks decided to rebrand itself as Nano. The announcement came as a surprise to most members of the community. However, core functionality of the currency remains the same, and all existing XRB wallets and funds have not changed in any way.
What’s the Difference Between Nano and RaiBlocks?
There’s no difference between Nano and RaiBlocks. RaiBlocks has just rebranded to Nano.
The company issued an announcement about the rebrand on January 31, 2018. You can read that announcement here. The announcement mentions “unprecedented growth” in the XRB community throughout December 2017.
One of the biggest ongoing issues with the project, however, was the name. The XRB development community met in November 2017 to discuss the future of the project. One topic they discussed was the name: was it “ray” or “rye”? Should they ditch the “blocks” and just call it “Rai”?
The team eventually decided to go with another direction after community feedback, deciding to rebrand the project as Nano:
“The Core Team wanted a name that represented the simplicity and speed of the project, and Nano does just that. The new logo uses several nodes, playing on the block-lattice design of the network, that connect to form an “N.” All social media accounts will be updated to reflect the name and logo changes. The new website is nano.org.”
For the moment, nothing is changed with XRB. Your funds, wallets, and transactions will still operate as they always have. Addresses will continue to start with xrb_ for the near future. However, the team will eventually introduce nano_ addresses that work with the xrb_ addresses.
At the same time, Nano announced beta testing sign-ups for both their desktop wallet and iOS mobile wallet.
How Does Nano Work?
Nano/RaiBlocks is known for its instant transactions and almost-free transactions.
Nano can offer this functionality because its technology works slightly differently than regular blockchains. Today’s traditional blockchains can be linear and slow. By having multiple chains in a grid or lattice framework, Nano is able to vastly reduce transaction times while virtually eliminating costs.
The new logo is a good example of that: the logo for Nano features several nodes representing the block-lattice design of the network. These nodes connect to one another to form an “N”. The logo is also designed to represent the speed and simplicity of the project.
Features of Nano RaiBlocks Rebrand
Why has Nano experienced such enormous growth in 2018? The currency sees itself as “the fast and free way to pay for everything in life.” Its core features include all of the following:
- Instant transactions
- Zero fees
- Infinitely scalable
You access Nano through the online Nano Web Wallet. This is the official light wallet for Nano. It allows users to remain in control of their funds without having to download the ledger.
Alternatively, you can grab the Linux build from Nano.org today. It’s available in 64bit and aarch64 varieties.
Use Cases for Nano
Some of the proposed use cases for Nano include all of the following:
Ideal Trading Pair:
Nano offers instant and near-zero fee transactions, making it ideal for cryptocurrency traders.
Peer to Peer:
Nano lets users quickly pay friends and family, whether they’re paying rent or splitting a taxi fare or bill.
Nano can be used for business to customer applications, including retail outlets that want to accept digital currencies in-store or online.
Nano RaiBlocks Rebrand Conclusion
RaiBlocks (XRB) made a surprise announcement in late January that they were rebranding to Nano. Right now, the ecosystem remains entirely the same as it was before, and even the xrb_ wallet addresses remain the same. However, the official project website is now found at Nano.org, and future wallet addresses will start with nano_.
To learn more about the ongoing project and its future goals, visit online today at Nano.org.