How does NANO work? Let’s find out. The Nano network utilizes a block-lattice
data structure, which is a special way to organize a blockchain. Traditional blockchains have miners that place
all transactions into a single linear list, a process that incurs delays. The block-lattice is composed of a list of
transactions for each account and the account owner themselves specify the order of transactions
in their own account-chain. The use of independent account-chains relieves
the network from the burden of determining transaction order. Instead, the account owners themselves specify
the order of their own transactions without needing to wait for miners to make that decision.
Nano uses a unique decentralization mechanism
called Open Representative Voting (ORV). Decentralization in NANO is a digital process
specified by Nano holders rather than a haphazard physical process tied to the placement of
mining equipment and power costs. The consensus mechanism in NANO is based on
representatives issuing votes. Nodes in the network observe these votes and
when a transaction reaches a quorum threshold, it is finally confirmed. Each account owner sets a representative that
gets to vote with the account owner’s balance. Selecting a representative is distinct from
staking in that the account owner always retains control of their own funds. The voting process is what makes nano green,
using a trivial amount of energy compared to consensus mechanisms based on consuming
energy such as Bitcoin. Learn more about NANO in the Blockchains of In Time. One of our most popular videos that dives into Blockchain technology found in popular movies and TV shows. I think you'll like it.
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