Investing money in cryptocurrencies is as risky business because it’s nearly impossible to tell when an altcoin’s price will go up or down. Therefore, we advise all cryptocurrency enthusiasts to never invest more than they can lose. Nonetheless, Nano is making headlines today because its price has taken a drastic dip during these past couple of days. The reason why Nano’s price is down is directly related to the BitGrail controversy.
The BitGrail Controversy
In case you didn’t know, recent reports are showing that a group of hackers managed to steal 15 million of XRB tokens via the BitGrail exchange. This means that $150 million worth of XRB tokens were stolen from investors and this led to people losing their trust in Nano and the developers who are in charge of it.
Directed Acyclic Graph Architecture
On the bright side of things, analysts are reporting that if we omit the BitGrail hacker attack, Nano is a great altcoin to invest in, especially when it comes to blockchain technology. Nano is the first ever altcoin to utilize the Directed Acyclic Graph block lattice architecture and this is quite important because it gives Nano an edge over its competition.
The Directed Acyclic Graph architecture makes it possible for Nano to feature faster transactions than other altcoins who are using older architectures such as Bitcoin for example. Fast transactions make Nano an ideal payment altcoin, but things get even better than this.
The main reason why Nano is such a great payment altcoin is because it doesn’t charge any fees. Therefore, investors who are looking to perform fast transactions without having to worry about fees should consider giving Nano a try. In addition, Nano’s price is currently lower than usual, and this means that investors can purchase it at a significant discount.
Henry Lares is still early into his career as tech reporter but has already had his work published in many major publications including Tech Crunch and the Huffington Post. In regards to academics, Henry earned an engineering degree from Apex Technical School. Henry has a passion for emerging technology and covers upcoming products and breakthroughs in science and tech.