First published 7 April 2020. Expanded in October 2026 so a missing fee is not described as a private payment, and so an exchange loss is not described as the chain printing coins. Nano was called RaiBlocks. Colin LeMahieu is the person most associated with it. The whole supply was distributed before the rebrand, on the order of 133 million NANO, through a captcha faucet. The faucet was gamed. That is why some balances are larger than a puzzle should have allowed. There is no further mint. A price times 133 million is the whole supply, not a live mystery.
A transfer has no protocol fee. Nobody mines the next block in the Bitcoin sense. Holders pick a representative, and that representative’s vote weight is the Nano that picked them. The coins do not leave your wallet when you pick. A representative is not a company, and a vote is not a dividend. This page will not walk through a node. A Nano payment is public. What is Monero (XMR)? is the private-by-default design. Nano’s trick is no fee and no mining, not hiding who paid whom.
In 2018 an Italian exchange, BitGrail, told users that a large balance of Nano was gone. The chain did not mint it back. An exchange balance is an IOU, not a wallet. A Nano address is not a Bitcoin address. The wrong network is still the wrong city. Nothing here is an instruction to pick a representative, to run a node, or to buy NANO.
