MultiversX Tracker is Live!

Recently Nano fees have reached an ATH

All Cryptocurrencies

by COINS NEWS 202 Views

Nano fees just got back to their ATH of $0. No fees at all. it's interesting cuz one of the most common criticisms of XNO is, "well if there's no fees then there's no fees paid to nodes/ validators for doing what they do, so why would anyone run a node?" at first that may seem like it makes sense, but actually when push comes to shove an incentive to participiate in decentralization ironically leads to centralization due to economies of scale. Silvio Micali, the Turing award winning professor at the helm of Algorand, believes the same thing and that's why algorand validators aren't paid fees. Colin, creator of nano, gives his take on the topic here: https://medium.com/@clemahieu/emergent-centralization-due-to-economies-of-scale-83cc85a7cbef

Nano has no fees, so it is technically the best decentralized value-transfer technology out there. The best value-transfer technology i have in my country is Venmo, when i send someone $50 on venmo they literally receive it instantly, and for free. But venmo is centralized, they can freeze your funds at any time, they can determine your account is untrustworthy and block you, they can charge a fee when depositing that money to your bank, all kinds of negatives that nano does not have because nano is decentralized. If nano is just like venmo, but decentralized, why isn't it more popular? There is no other coin in the crypto market that allows you to transact like venmo, free and instant value-transfer, besides nano. I really don't understand why nano is outside the top 150 if literally no coin serves as a better transfer-of-value tech. After all, value-transfer is not just some ethereal lofty up in the sky use-case, it's a use case that every single person basically engages in every single day of their life. Nano should get more respect.

submitted by /u/Podcastsandpot
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments