Nano

The price of nano hit an all-time high (ATH) on January 1, 2018, when it reached $33.7, at the end of the cryptocurrency bull run of 2017. Over the course of that year, Nano’s near-zero fees and fast transactions made it one of the leading digital assets for providing financial support to citizens in Venezuela, who were struggling amid the country’s hyperinflation. This provided the asset with new mainstream appeal, with the price briefly rising above the $2 mark during the period sometimes referred to as crypto winter (a prolonged period of low crypto market activity that began in early 2018.)

Nano has a fixed total supply of 133,248,297 nano. But, unlike many cryptocurrencies, including Bitcoin and Ethereum, that release their tokens using a predictable issuance system, Nano released its entire supply all at once.

To distribute the cryptocurrency as far and wide as possible when the cryptocurrency first launched, Nano’s asset nano (CoinDesk uses upper case for projects and lower-case for assets) was dispensed free of charge from an online “faucet.” Users would need to solve complex CAPTCHA tests to retrieve the tokens. CAPTCHAs are puzzles deployed to detect that whoever is interacting with the website is a human, not a computer. One common CAPTCHA is to click on the image squares that feature traffic lights.

By 2017, after 126,248,289 nano were distributed, the faucet was shut down.

In addition, 7 million nano were committed to a development fund to incentivize developers to improve on and maintain the cryptocurrency.