Rebranding Time

Raiblocks was one of the new coin revelations of 2018, having an amazing rise in January getting on the crypto spotlight due the Bitcoin scaling problems, getting the attention of the community for its technology and possible solution for a cheap, fast and scalable network. Now, after sitting among the big ones, the company has decided rebrand de coin to take away any kind of confusion that its previous name could have. 

According their official announcement this rebrando comes to give a simple and easy to understand name to their brand and catapult it to the future.

In November, the team gathered to discuss the future of Raiblocks and develop plans to further the project’s growth. One topic discussed was the name itself (“Is it, ray or rye?,” “Ditch the Blocks!,” “Just call it Rai!”). Feedback from the community suggested that improvements could be made to better resonate with the public and a mainstream audience. Because of this, our team made the decision to rebrand. 

Now RaiBlocks is called Nano, the new nomenclature is already updated in the CoinMarketCap, listed as Nano (XRB) and living on a dual website while the rebranding its completely done. 

What is RaiBlocks Nano?

Nano is a low-latency payment platform that requires minimal resources. Nano is about instant transactions, cheap and scalable, a different technological proposal due to each account is its own blockchain, where all blockchains communicate to each other creating a tangle of them. 

Unlike conventional blockchains used in many other cryptocurrencies, RaiBlocks uses a block-lattice structure. Each account has its own blockchain (account-chain), equivalent to the account's transaction/balance history. Each account-chain can only be updated by the account's owner; this allows each account-chain to be updated immediately and asynchronously to the rest of the block-lattice, resulting in quick transactions. Since blocks can only be added by each account-chain's owner, transferring funds from one account to another requires two transactions: a send transaction deducting the amount from the sender's balance and a receive transaction adding the amount to the receiving account's balance.

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