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Banano

Banano is a feeless, instant rich in potassium, powered by technology, designed to disrupt the economy. Launched on April 1st, 2018, as a fork of Nano (formerly XRB/Raiblocks), it features a unique -based architecture where each user has their . Banano is also available as Wrapped Banano on , , , , and the . It encourages engagement through innovative faucets, games, and user-friendly accessibility.[1][2]

Banano did no whatsoever, instead, all coins were and are distributed through an ongoing free and fair distribution program, through Airdrops, Faucet Games, and other events.[3]

History

Banano started as a joke between a devoted group of contributors but quickly evolved into a serious project that maintained a light-hearted, playful approach. Officially launched in April 2018, Banano is a of Nano, created by copying Nano's source code but fine-tuning various parameters such as work requirements and units. Despite its humorous origins, Banano was built with considerable effort and retained significant portions of Nano's node code to ensure cross-chain compatibility with existing libraries. However, as Banano progresses, it is expected to diverge further from Nano, incorporating more unique features like on-chain messaging and enhanced privacy options.

Banano emphasizes a flexible approach to feature additions, contrasting with Nano's philosophy of "do one thing and do it well." This openness to innovation is aimed at improving the ecosystem and attracting top developers. During its launch, Banano distributed free BAN coins through an airdrop to all Nano holders who opted in and provided their wallet addresses, effectively creating a broad initial user base.[4]

The development team behind Banano, affectionately referred to as "developer monkeys," has contributed a range of exceptional tools and utilities to the project. However, detailed information about the team remains scarce, with the website listing only their nicknames and humorous descriptions. For example, one developer goes by the name LOSHA1X, described as a "professional life hater." Despite the playful anonymity, the team's dedication to building and improving the Banano ecosystem is evident in their ongoing efforts and innovative contributions.[5]

Overview

Banano is a c forked from Nano, designed to be fast, fee-less, and highly accessible for everyday transactions. It uses a architecture called a block-lattice, allowing for instant transactions without fees. Banano's unique distribution methods, including airdrops and faucet games, aim to promote engagement and widespread use. Known for its playful, -centric community, Banano is used for microtransactions, tipping, and small exchanges, supported by a vibrant ecosystem of mobile wallets and gaming integrations. Its ticker symbol is BAN, often represented with a banana-themed logo reflecting its fun and community-driven nature.[6]

Banano stands out for its dynamic development and vibrant community engagement. Community members have initiated an array of captivating projects, including integrating Banano into popular games like Minecraft, offering guild rewards within mobile gaming ecosystems, and creating faucet bots on leading streaming platforms. Moreover, Banano boasts widespread usage of tipbots across major social media platforms such as Telegram, Twitter, Discord, and Reddit, enhancing its accessibility and utility.

A significant distinction between Nano and Banano lies in their initial coin supplies. Banano kickstarted with 3.4 billion freshly minted coins, strategically allocated to sustain faucets, drive technology advancement, support the flourishing tipping economy, and foster community-driven initiatives. This strategic allocation mirrors the objectives of the NanoCenter—a dedicated community of Nano enthusiasts, investors, and contributors working alongside Nano's core development.[7]

Banano adopts a gamification approach to democratize cryptocurrency access, particularly targeting newcomers to the crypto realm. With its playful and inclusive ethos, Banano offers a forgiving environment for novice users. Losing a few " earned from sh*tposting" pales in comparison to experiencing significant investment losses. This ethos underscores Banano's commitment to simplifying the cryptocurrency onboarding process through gamification, education, and fostering responsible asset management.

Diverging from conventional blockchain technology, Banano embraces technology. In this innovative framework, each account maintains its blockchain, and transactions are interconnected vertices on a graph. Every Banano transaction necessitates both a send and receive action, ensuring the integrity of each account's blockchain.[8]

To fortify its transaction ledger and thwart fraudulent activities, Banano leverages open representative voting as a consensus mechanism. This decentralized system empowers account holders to delegate voting rights to representative nodes, upholding network integrity and reliability. Additionally, Banano employs a proof-of-work system as an anti-spam measure, requiring devices to solve equations before processing transactions. This mechanism not only bolsters network security but also maintains operational efficiency, catering to users with standard computing resources.[1]

Key Features

1. THE BLOCK-LETTUCE DAG ARCHITECTURE

Banano uses a architecture known as Block-Lattice. This advanced structure allows each user to control their blockchain, which helps achieve high transaction speeds and scalability.

2. Instant and Feeless Transactions

With the Block-Lattice technology, Banano enables transactions to be processed instantly and without any fees. This makes it an ideal for everyday transactions and micro-payments, as users don’t have to worry about delays or extra costs.

3. Fungible & Edible

While Banano is, of course, a digital asset and not edible, this playful feature highlights the coin's meme-centric culture. The term "fungible" means that each Banano is identical in value and can be exchanged one-for-one.

4. Daily Potassium Airdrops

In keeping with its banana theme, Banano distributes "potassium airdrops" regularly. These airdrops are free distributions of Banano to community members, encouraging engagement and participation in the ecosystem.

Grows on Trees, No Mining Required

5. Unlike many cryptocurrencies that require energy-intensive mining, Banano is pre-distributed, meaning it doesn't need to be mined. This feature emphasizes its environmentally friendly nature and ease of access for new users.

No More Confusing Units, 1 Banano = 100 Banoshi

Banano simplifies transactions with a straightforward unit system where 1 Banano equals 100 Banoshi. This makes it easier for users to understand and use the cryptocurrency without dealing with overly complex fractional units.[5][1]

Banano Wallets

Kalium Mobile Wallet

Kalium is the official mobile wallet for the BANANO, designed to be both efficient and user-friendly. With Kalium, users can manage their BANANO effortlessly, thanks to its intuitive interface that requires no prior experience with cryptocurrencies. Available on both Android and iOS platforms, Kalium ensures that users can get started in just a few minutes. One of its standout features is the ability to send BANANO instantly to anyone, anywhere in the world, completely free of charge, making it a convenient option for quick and cost-effective transactions.[9]

Kalium also emphasizes community integration, facilitating seamless interactions within the BANANO community, or "banfam." The wallet is designed to enhance the community experience, making it easy to connect and transact with other BANANO users. Whether new to cryptocurrency or an experienced user, Kalium offers a modern, mobile solution for managing BANANO that combines ease of use, instant transactions, and robust community features.[10]

The Banano Stand Web Wallet

The Banano Stand Web Wallet is a convenient, secure, and user-friendly online platform for managing BANANO cryptocurrency. Accessible from any device with an internet connection, it allows users to manage their funds directly from a web browser without needing to download or install software. The wallet features an intuitive interface that caters to both new and experienced users, ensuring easy navigation and management of funds. Security is a top priority, with robust measures in place to protect users' assets and personal information. [11]
wikiAdditionally, it supports instant and free transactions, making it an efficient tool for quick transfers within the BANANO community. Overall, The Banano Stand Web Wallet enhances the user experience by combining accessibility, security, and community integration. Ledger Nano S model is supported by The Banano Stand.[5][17]

BAN Coin

$BAN is the thicker symbol of the Banano coin, it has a total supply of 1.91 billion coins with More than 81% of the total BAN distributed to the community. $BAN coins can be traded on centralized exchanges and decentralized exchanges, which include MEXC, , , , , and .[12][13]

$BAN Coins are also available as Wrapped Banano on , , , , and the when bridged. It also has its own liquidity Mining.[14]

Banano Faucet Games

BANANO is freely distributed through faucets, games, contests, giveaways, and airdrops. BAN coins are also distributed on Twitter, Discord, Reddit, and Telegram using the Tip bots.

The Banano Runner game, launched with its first round in April 2018, was a huge success and an unprecedented form of airdropping a new cryptocurrency to its community. Unfortunately, from the very beginning, there were attempts to exploit Banano faucet games by bots. This was one of the reasons why Banano Runner had to be discontinued after 5 highly successful rounds.[15]

Monkey Match

Monkey Match, the second Banano faucet game after Banano Runner, successfully avoided exploits through modifications and variations in the graphics of MonKeys that needed to be “matched” during the game. Despite encountering brief interruptions on several occasions, the game continued. The next round was scheduled to start on March 2nd, 2019.

The Banano Meme Faucet

The Banano Meme Faucet began in Autumn of 2018 and has since been operating regularly. While it may not offer the same level of entertainment as some other games, it has proven to be highly resilient against potential exploits and remains quite popular. All meme and image descriptions undergo manual checks, and any attempts to cheat are met with penalties.

Black Monkey

Named after the concept of the "black sheep," the Black Monkey faucet game involves identifying the odd MonKey out of six MonKeys. Each MonKey is adorned with a combination of hats, glasses, smiles, skin colors, clothing, shoes, and accessories. Players must discern the MonKey that differs from the others, as the remaining five MonKeys possess identical items of each type.

Crane Faucet

The crane faucet is run 24/7 and consists of solving captchas and various other “minigames” such as ‘Monkey Match’ or ‘Catch the Monkey’. Crane Faucet is available on faucet.banano.coranos.io.[16]

Technology

BANANO employs a unique Block Lettuce architecture to achieve lightning-quick transfer speeds. Unlike traditional cryptocurrencies that use a single, centralized blockchain, BANANO assigns each account its blockchain. This innovative approach allows for more efficient and faster transactions.

When transferring funds from one account to another, two transactions are involved. The first is a send transaction that deducts the specified amount from the sender's balance. The second is a receive transaction that adds the same amount to the receiver's balance. This dual-transaction system ensures that both accounts are updated accurately and efficiently.[5]
wikiEach account encodes its accumulated total balance whenever a transaction is made. As a result, nodes (the computers that support the network) only need to keep track of the latest block in each account’s . This method significantly reduces the computational resources required to maintain the network because nodes do not have to track the entire transaction history of each account, only the most recent state.

This architecture maintains correctness and security while drastically reducing the time and effort needed for transaction processing. In contrast, traditional single-blockchain architectures require more extensive resources to verify and record each transaction. By decentralizing the and minimizing the data nodes need to store and process, BANANO achieves much faster transaction speeds and greater efficiency.[1]

MonKeys

MonKeys provide a creative and effective way to visually represent cryptocurrency wallet addresses. They enhance user identification while maintaining privacy, and their vast range of possible combinations ensures that each MonKey is one-of-a-kind. MonKeys creates unique, monkey-shaped avatars derived from a hash value based on a user's public key. These visual representations not only help identify users but also protect the privacy of account holders.[5]

Each MonKey avatar is unique, featuring different combinations of fur and eye colors, as well as various accessories like hats, glasses, shirts, pants, mouth types, and tail decorations. These accessories come in three value categories: basic, rare, and premium, with rarity ranging from 1 in 2 to 1 in 32, and up to 1 in 1,024 MonKeys, respectively.

The sheer number of possible MonKey combinations is staggering. For instance, the RGB color model allows for 16,777,216 (256³) possible colors. By considering both fur and eye color, the potential combinations amount to 281,474,976,710,656 (16,777,216²) unique MonKeys. This calculation does not even account for the seven classes of accessories and their various color options, resulting in hundreds of billions of possible MonKey variations.[18]

Team Members

  • ANEMONE: Chief shitposting orangutan, meme historian
  • SoggyApplePie: Baked goods connoisseur
  • Just_Dmitry
  • Bbedward
  • Yekta: Leonardo da Banano
  • Mitche50: Doer of things
  • Bantano: Ringleader of media operations
  • Fudcake: The Banano Republic dictator trainee
  • Losha1x: Professional life hater
  • Renesq: Gandalf level code wizard and chronic procrastinator
  • WTP: Fees are the future
  • Coranos: Hardware wallet, vulcanology, and burn specialist
  • Ptera: Billionaire vigilante
  • Meltingice: Leader of the curious explorers.[1]SZ
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Banano

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June 4, 2024

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