Thoughts on Nano?
Its DAG & block lattice technology result in ultra fast, feeless, and eco-friendly transactions while maintaining decentralization and security. Still has low accessibility due to lack of Coinbase and Gemini listing (as well as little penetration in Asian exchanges). It’s a direct competitor to BTC, LTC, BCH, DGB, DASH, etc. yet outperforms all of them in every metric (except market cap lol).
Nano is an attempt to copy and make a quick buck — No innovation. Transactions is not a problem to be solved. Store of value is.
What...? Nano uses a completely new innovative architecture called the block lattice where every wallet has its own blockchain. This is completely different than BTC, LTC, XRP, BCH in which you could use that argument. Nano also didn’t have an ICO and was distributed to anybody with an internet connection for free. How was Nano an attempt to make a quick buck...? Transactions DO need to be solved. 2hr transaction times and $30 fees are extremely inefficient. Let’s not forget crypto currency’s roots.
With no disrespect intended - just my opinion - I might be wrong but — I like the idea but seems over engineered. The problem to solve is not transaction cost or speed. You have Apple Pay, visa, square for that. The big problem to solve is store of value. With rapid money printing and inflation, we need a store of value system that can ‘preserve and save’ our money. Spending is an afterthought and already been solved.
I think the fact that it doesn't use PoW causes a huge security risk. PoW is very wasteful of energy, but it makes it very secure.
Whats PoW?
How does not having PoW pose a security risk? As I understand it, the supply is entirely fixed and the network seems to be pretty decentralized with a Nakamoto coefficient of 6 compared to BTC’s 4.