Earlier this week, cryptocurrency exchange Huobi Global announced that it would be listing NANO effective on Wednesday, October 31 at 4.30 pm (GMT+8). NANO tokens can now be traded on the exchange against ETH and BTC; NANO withdrawals will not be enabled until November 4 at 4.30 pm (GMT+8).
Preceding the announcement, much speculation that Huobi would list NANO reverberated around the cryptosphere.
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There is a strong rumour that Huobi will list #NANO.
— DudeSignals?? (@Dudesignals) October 18, 2018
Nano is Making Waves
Nano has gained some attention within the cryptocurrency community for its ability to deliver on its scalability promises. Formerly known as RaiBlocks, the platform got a makeover and a new name at the end of January 2018. All of its 133 million coins are currently in circulation.
The network uses a unique algorithm that makes its speed and fee-less transactions possible. ”With Nano, each account has their own blockchain as part of a larger directed acyclic graph,” the project’s website explains.
“Each individual user provides the computational power for the verification of their own transactions, meaning the entire network is not required to update the overall ledger together in a massive bloc.”
The network beat XRP and Stellar in a Binance deposit speed test conducted by Bitcoinkit.com in October. Nano was designed to be capable of processing transactions immediately and with no fees.