Founded in 2015 by Colin LeMahieu, Nano was originally known as RaiBlocks. It is a fast, low-resource payment network designed for peer-to-peer transactions. In Nano, each user maintains their own blockchain as part of a broader directed acyclic graph (DAG). Users validate their transactions using their own computational power, eliminating the need for the entire network to process large blocks collectively, which streamlines the updating of the ledger.
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