About this video
In this video, Colin LeMahieu, creator of Nano and Founder and CEO of the Nano Foundation, answers the many questions investors and partners have about Nano. A very informative Q & A session.
Some of the topics discussed in this Q & A session were about Nano's white-paper and its updates; How the foundation is using the developer fund, and how are they converting Nano to Fiat; The new features that will be added to Nano; and much more interesting questions throughout the video.
Did you Know?
Nano uses Proof of Work
Nano was built to be feeless (as in, when you send 1 NANO, the receiver receives 1 NANO and not 0.99999 NANO), and also instantaneous (as in, when you send Nano, it takes less than 1 second to reach the receiver). Because of this, Nano could be prone to Spam Attacks, where users with bad intentions could abuse the feeless and instant properties of the network to send thousands or millions of transactions in short spans of time, with the objective of affecting the nodes that run the network.
To prevent that, Nano achieved a solution, to use a small Proof of Work (PoW) associated with each block. In most cases, this PoW takes less than a second to generate. Which makes sending transactions still almost instantaneous for normal users, but makes users with bad intentions waste a lot of resources and time in order to try and spam the network.