Nano (NANO) did not have it rosy in build-up to the second quarter of the year. Still faced by the challenge of its limited transactions and aiming at forging more partnerships, it was not relentless in its bid to reach the top ten on market capitalization.
The goal suffered great setback after Nano (NANO) was served a law suit. It had before now being into the business of reducing transaction costs on decentralized networks and facilitating transactions and its bid had plunged it into a law suit that lasted for some months.
The BitGrail Saga
Nano (NANO) had operated under the name Railblocks (XRB) and the unveiling of its new name in the early days of January 2018 placed in the green with over 40% profit. The coin itself promised to be scalable and cost-free than what was obtainable in other platforms. Perhaps buoyed by success stories on ground or its inordinate ambition to force down its coin down the throat of investors plunged Nano (NANO) into unexpected lawsuit that dragged for months.
BitGrail was one out of many exchanges trading Nano (NANO). The early days of February 2018 saw the crypto community waking up to news that BitGrail might have probably been hacked and over $150 million USD worth of Nano (NANO) tokens were stolen. The report came at a time when the coin was struggling up the ladder on market cap and the tide seemed to turn against it.
The exchange’s owner, Francesco Firano had tabled the option of delegating a hard-fork as means of recovering stolen Nano (NANO) tokens; an option Nano’s (NANO) team refused to accept. It appeared in recent months that the coin was keen on pushing a lawsuit against the exchange for the loss it encountered.
Though BitGrail had opted to replace some tokens with a stable token pegged at $1 per token, Nano (NANO) had gone ahead to suggest a law suit to be carried out through Silver Miller Law Firm.
The tide seemed to turn as a counter-suit was tendered from the firm suggesting that Nano (NANO) had deceived investors into purchasing its XRB token from BitGrail even when it was evident that the exchange was insolvent. Nano (NANO) only got out of the suit on October 1 2018 and had hinted on new innovations as celebration to the victory.
Celebrating Law Suit Victory with Network Upgrade
Soon after it triumphed over the lawsuit instituted during the BitGrail saga, Nano (NANO) had been quick to intimate its token holders of plans to upgrade the platform.
Before now, users have not had it so good when it comes to synchronization and transacting through the platform. Nano (NANO) had been into developments and the latest of its blockchain platform, the version v16.0 is reputed for its syncing downsides. This development had forced users to rely on the antecedent update, v15.2. The latter became more preferable because of its stability.
The new network upgrade will be deployed under version v16.1. At the moment, the anticipated network upgrade is undergoing last minute touches and feelers have emerged positing that slight bugs were experienced; a situation Nano (NANO) developers have been looking into.
Finding feet on investFeed
The stage had long been set for blockchain integration in daily lifestyles but there are few platforms that are yet to meet standards for such use case. Nano (NANO) might perhaps be among the first to taste the waters of blockchain-to-social media interoperability.
The pathway will be opened through Nano’s (NANO) launch on investFeed. investFeed is a decentralized platform that houses the crypto community and provides access to real-time market notifications and access to marketplace for spending cryptocurrencies. The platform also allows users access information that will enhance their trades.
Universal Block in the Offing
As follow-up to the upgrade of its network, Nano (NANO) is not backing out of further innovation as another massive development is to be released in the shortest time possible. The big fish here is a universal block –a block that will collapse all four blocks of Nano (NANO) into one for better functionality.
The block has many features in its kitty such as the representative lookup that reduces the burden on nodes. This time, nodes will be progressive in the stead of their retrogressive formation. Hence, the block will confirm account balances; function nodes earlier had to perform before commencing another transaction.
Nodes won’t also have to prune ledgers because the pruned ledger support allows nodes take into account available data in a block even after such blocks had been re-formed. Transaction signatures will be monitored because the upgrade empowers main ledgers to check for signatures in each transaction.
Nano (NANO) is shooting to the Stars
The massive feat of coming out of the BitGrail lawsuit unscathed is one record to many for Nano (NANO). It cements its victory with network upgrade and plans have been set in motion to achieve this.
The upgrade is expected to increase transaction throughput and the possibility of becoming more relevant is not in doubt especially considering recent happenings in its ecosystem.
More adoption of Nano (NANO) will no doubt earn it choice spots in market capitalization and this might happen sooner in the year or in the early months of 2019.