NANO - Block Lattice - Full introduction to the approach behind the revolutionary currency

in #cryptocurrency3 years ago (edited)

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In the previous post we took a look at the major characteristics of NANO, and its unique competative advantages over other cryptocurrencies in the space. These include a scalable DAG architecture that enables feeless and instant transactions. Consensus is reached via a mixed mechanism of POW (Proof of Work) and dPOS (Delegated Proof of Stake). Furthermore we talked about the energy efficiency compared to minable currencies, which we will get into in the next blog. For now i want to highlight the block lattice which makes NANO even more special.

What exactly is block lattice?

Different to the traditional blockchain; NANO uses a block-lattice structure whereby each node has its own blockchain. This allows users of the currency to immediatly update the ledger and leaves the block-lettice untouched to prevents heavy load from clogging up the main network.

Each node does a tiny amount of work to prevent spam attacks and to help confirm transactions quicker. The nature of a DAG demands each node to add the block to the network where two transactions are required to make a successful transfer. A send transaction deducts the funds from the senders balance and a recieve transaction adds the amount to the recieving account balance. This effetively leads to nearly instant transfer of value.

Below you can see the process visualized.

block lattice NANO.png

I hope this Blog was helpfull and gave you some more insight into this amazing technology.

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Until the next blog


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