Nano, previously known as RaiBlocks, is a cryptocurrency designed with a unique block-lattice architecture. This innovative design allows for a trustless and low-latency system that achieves consensus through delegated Proof of Stake voting.

Mechanism of action

Unlike traditional blockchains employed by many cryptocurrencies, Nano utilizes a block-lattice structure. Each user has an individual blockchain, termed an account-chain, which reflects the user's transaction and balance history. Only the owner can update their account-chain, enabling quick and asynchronous transactions across the network. When transferring funds, two transactions are involved: a send transaction that deducts the amount from the sender's balance and a receive transaction that credits the amount to the recipient's balance.