Nano (cryptocurrency)

Nano was launched in October 2015 by Colin LeMahieu to address the Bitcoin scalability problem and was created to reduce confirmation times and fees. The currency implements no-fee transactions and achieves confirmation in under one second. Colin LeMahieu started the development of Nano in 2014 under the name "RaiBlocks". A year later, RaiBlocks was distributed for free through a captcha-secured faucet. In 2017, after 126,248,289 RaiBlocks were distributed, the faucet shut down. This fixed the total supply to 133,248,297 RaiBlocks, after addition of a 7,000,000 RaiBlocks developer fund. RaiBlocks was rebranded as Nano in 2018. On February 9, 2018, an Italian cryptocurrency exchange BitGrail announced its hack and eventual shutdown.