Nano, formerly RaiBlocks, will be listed on the cryptocurrency trading platform Binance as of Friday.
The news was announced via a tweet by the official Binance twitter account at 2:48 GMT on Friday. As RaiBlocks, the coin had been circulating only on niche exchanges but had been trying to gain a Binance listing for some time.
The Nano coin, which is currently circulating at 133,248,289, will be traded on a 0.1% trading fee. Nano cannot be mined and is centrally distributed, which has raised some doubts from analysts over how the coin can maintain its value.
Nano aims to deliver near-instantaneous transaction speed and unlimited scalability. It uses a block lattice infrastructure with each user having their own blockchain which allows them to update asynchronously to the rest of the network.
This gives Nano a split-second transaction time, ideal for fast exchanges with minimal overheads, such as consumer-based ones.
According to their website, Binance, which is based in Hong Kong, can process over 1,400,000 orders per second. Speaking to finder. on Wednesday, Binance’s co-founder Ted Lin, said the exchange is highly selective on the coins it lists; accepting 3% of the total number of applicants.
During the crypto-craze last month, Binance claimed a thousand new members were joining every day. On one day alone, Binance’s CEO Changpeng Zhao said they had had 250,000 new users in a single day. The exchange announced on Thursday that the social coin Steem would be added to its lists.
In a meeting, the RaiBlocks team determined to change the name to Nano in November; the decision was announced on Thursday.
Prior to the rebranding, RaiBlocks had not had the best January, XRB as it was then known traded at half its peak values at around $16.85. XRB prices had fallen following the news of a compromised web wallet and issues withdrawing funds from the Mercatox exchange.
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