# Nano

> Nano (formerly RaiBlocks) is a trustless, low-latency cryptocurrency that utilizes a novel block-lattice architecture...

- Canonical URL: https://iq.wiki/wiki/nano
- Categories: Cryptoassets
- Created: 2022-08-23T18:09:32.279Z
- Last updated: 2022-08-24T02:48:38.165Z
- Source: IQ.wiki — the world's largest blockchain and crypto encyclopedia (https://iq.wiki)

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Nano (formerly RaiBlocks) is a trustless, low-latency [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) that utilizes a novel block-lattice architecture, where each account has its own [blockchain](https://iq.wiki/wiki/blockchain) and achieves consensus via delegated [Proof of Stake](https://iq.wiki/wiki/proof-of-stake) voting.[\[1\]](#cite-id-7allbvbf39x)  
  
## Mechanism of Action  
  
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.[\[2\]](#cite-id-ok89x8inekf)  
  
## Developers  
  
* Colin LeMahieu- Core Wallet Developer, Creator of RaiBlocks  
* Sergsw/byte16 - Core Wallet Contributor  
* James Coxon - Services & Integration Developer  
* Mica Busch - Web & Android Developer  
* Zack Shapiro - iOS Developer[\[6\]](#cite-id-tsr2767x59m)  
  
## Community Managers  
  
1. Louis Nobleman - English, Spanish, Tagalog  
2. Jesus Moreno - English, Spanish  
3. Kedrin Welodon - English, Russian  
4. Gotowerdown - English, Indonesian  
5. Flomess - English, Italian[\[7\]](#cite-id-ug94oxwtyqc)  
  
## History  
  
In January 2018 RaiBlocks rebrands as Nano.[\[3\]](#cite-id-tuzwnanmhi)  
  
In February 2018 one of the primary Nano exchanges, BitGrail announces that it is missing approximately $170 million dollars in funds.[\[4\]](#cite-id-wjk0iok5nj9)[\[5\]](#cite-id-otfraxjipo)