The Nano (NANO) coin is great in many respects, but this

Nano and exchanges have been a tumultuous history ever since Bitgrail hack in which Nano holders lost about $ 150 in a hack of the long closed exchange.

Bitgrail has long been forgotten and the new itch exchange for Nano owners is the largest exchange by volume of (real) trades, the CZ led the behemoth Binance.

Binance holds about 25% of the entire Nano in circulation and as such qualifies for a Nano representative node.

The delegate-proof method of delegation of the stake allows anyone who owns NANO to delegate the vote weight equal to the amount of NANO they possess on a representative node of their choice.

The advantage for the delegator is that they do not have to ensure that their node (wallet) is running 24 hours a day to participate in the vote. Voting is a consensus mechanism that decides which transaction is valid each time a double expense attempt is made.

You can see how powerful the nodes here are the total percentage represents how much control they have on the Nano network the goal is to expand control.

This is not going too well because Binance holds 25% (about 33 million Nano) of all currencies and does not participate in the voting process at all. So the owners of Nano are located between a rock and a difficult place since they can not decide, which is worse: if Binance begins to exercise its power by voting on a Nano network making it less decentralized or if it does not, that then it leads to the low number of Nano coins to participate in the voting process of other representatives.

The integrity of the network is in question

This delicate situation has moved a nano holder to intensify the problem in their subreddit and urge other coin holders to move their coins from Binance portfolios to Nano where they will check the keys and their voting rights.

"Since the 33 million nano does not participate in the network, only 62% (or 85 million) of all existing Nano even votes. From 60 million in weight of Nano vote must be online for network operation, this means that only two representatives must go offline to stop the network. This has already happened, some times. And all because you keep your Dwarf on Binance. You're a monster.

So we do all of us a favor and move your Nano from Binance. Choose a nice representative, one with a high activation time, a low voting weight, but it is still above 133,000 delegated weighings (the threshold to be a representative for retransmission). Here is a nice guide for you on what a representative is.

The integrity of the network literally depends on the fact that you have moved that Nano. "

– Official Nano Classic Wallet v13 (requires full synchronization, Advanced) – https://nano.org/en/wallet/

– Canoe (MacOS, Windows, Linux, Android, iOS): https://getcanoe.io/

– Nanovault (Web, desktop): https://nanovault.io/

– Nanowallet (Web only): https://nanowallet.io/

– Official Android wallet (beta, test only): https://play.google.com/store/apps/details?id=co.nano.nanowallet

What are the Nano chances to really become THE payment currency of the future?

This is the question often asked by the owners of Nano on Reddit. They are really wondering how a coin works with a great technical predisposition and solutions superior to other important cryptocurrencies of payment that are so behind in recognition and use.

Here are a couple of answers that he received:

As a fan of Nano, here are some points that I consider disappointing and which hinder its potential use as a currency:

• "Official" portfolio, in particular the mobile version is terrible, badly UX (registration process in particular) and only the basic functionalities (no address book, etc.). Canoeing is what I use and it is much better, but the average consumer will probably find / download the official portfolio first.
• No direct fiat input (with any volume * even not including the few card gateways that charge 15-20% tax ..), this is all methods including consumption items (coinbase etc.), Advanced (no pair) fiat on large exchanges) or offline (From Fiat to encrypted ATMs).
• No good commercial provider for main / offline traders. Yes, I know there are brainblocks and this is great for small businesses, especially those with crypto-knowledge but for most traders, they need something like BitPay that allows them to have no risk because the Nano comes immediately converted into Fiat and paid to them as such.
• It is not a known name – Traders accept Bitcoin because they have heard of Bitcoin and want to capitalize on the hype surrounding it, not necessarily because they like technology. Nano does not have that buzz around it (Frequent media mentions, conversion topic day by day last year, most people usually know what it is about now) and not even other cryptocurrencies, not even Ethereum or Ripple. The only thing that will really solve this is the adoption. If a merchant provider or a fiat gateway that focuses 100% on Nano could enter the space, it could then speed things up if they market properly and introduce the general population on Nano in this way.

Apart from the reasons enumerated by this well informed and well informed user, the obvious reason for the fight of Nano is the tough competition: the payment currencies are an arena full of heavyweights, starting from the king himself – bitcoin and followed by a series of projects such as money bitcoin, litecoin, dash, monero etc.

Nano is also notorious for their poor marketing efforts, or to be more precise complete lack of such. Apparently the Nano team has adopted a "build it and they will come" approach, relying completely on technology and neglecting all the other business aspects of a project of this magnitude.