Nic Carter on Nano

[Nano] is a DPoS coin that claims to have free transactions with no trade-offs. It was heavily astroturfed on Reddit. I felt that its consensus mechanism might entirely fail, and that the considerable enthusiasm was contrived. Amazingly, January 1 was almost its precise all-time high — its market cap on that day was an eye-watering $4.6 billion.

In fact, the consensus mechanism for RaiBlocks (rebranded to Nano) did not fail, but its major source of liquidity, the BitGrail exchange, did get extremely hacked in February. This wasn’t a trivial hack, either — approximately $150m (at February prices) went missing. That was a mammoth 13% of the entire supply. Despite the immense setback and a truly impressive price collapse, development appears to be ongoing.

Nano promises you something for nothing while conceding no trade-offs. Highly suspicious of it. Would love to see the outcome of the BitGrail situation, too; I suspect it was a Nano failure, too