As Nano partners with leading payment gateway, CoinGate, adoption level is expected to rise as Nano coin can now be used to shop by over 4,000 merchants that use the payment gateway’s services.
Nano coin Integrated by Coingate as Native cryptocurrency
Aimed at providing a payment solution to the world at large, Nano coin moves a step closer by partnering with leading payment platform, CoinGate. The payment gateway announced via a tweet that the integration of Nano coin as its native cryptocurrency will advance the adoption of the coin.
“$Nano is now accepted on the @CoinGate.com payment platformPraising the integrity of the Nano project, the payment platform explained that the reason for integration is due to its nature. Nano was created mainly as a payment coin and was developed to overcome scalability and mining issues via its blockchain protocol.
Direct settlements into EUR and USD, 4,000 registered merchants and 100+ countries worldwide. A solid step towards unlocking the full potential of #Nano as a pure #cryptocurrency!” The tweet read.
“Nano is global cryptocurrency developed purely for the purpose of making peer-to-peer payments. As much as we like Bitcoin and Litecoin, this cryptocurrency tackles many of the issues that major cryptocurrencies face.” CoinGate said in a blog post.True to form, CoinGate has partnered with Litecoin’s lightning network to further developed Litecoin as a payment solution while Nano has set about improving its network to be compatible with the payments market.
Nano’s Focus on Payments to Foster Adoption
As established before, Nano’s primary goal is making its mark as a payment solution for both crypto and the global traditional financial world. To this effect, the coin was built upon the Directed Acyclic Graph (DAG) as its main background.
To bring a viable solution to scalability issues, it uses a block-lattice architecture which distributes the ledger over every node. As such, instead of being verified by a previous node, each account has its own blockchain that verifies transactions.
Nano also stands out by negating mining and high transaction fees. Its DAG architecture allows it the possibility of faster transactions and lower rates without compromising the integrity of the transaction.
However, with cyptocurrencies still in their embryonic stages, many merchants are wary about adopting them as a means of payment. So, Nano’s usability making ‘nano’ payments as well as its integration as CoinGate’s native token could foster faster adoption as over 4,000 merchants on the network can now use the coin.
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