This article was first published on Stories by Nano on Medium
Why is Nano Fast? — The Basics
Nano is fast, very fast, but how is the network able to operate so quickly?
First, let’s think about how a traditional blockchain works. Every transaction must be grouped with others and added to a global ledger in set intervals, meaning there is a delay in waiting for your transaction to get processed among all the others.
Nano performs the same function in a very different way. Gone is the single blockchain, replaced with each account having a blockchain of its own. Transactions occur asynchronously, meaning you don’t have to wait for other transactions to be processed before yours.
In more simple terms, Nano generates transactions through interactions between two accounts, rather than from interactions between all.
Having both an ultrafast and feeless transfer of value opens up a wide range of opportunities and brings a genuinely useful cryptocurrency to the entire world. Without being burdened by long transaction times, Nano provides people with the framework on which to build economies, both local and global, that can scale as far as needed.
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Stories by Nano on Medium