Regulated
Austria based and European regulated crypto & securities broker platform
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ESG (Environmental, Social, and Governance) regulations for crypto assets aim to address their environmental impact (e.g., energy-intensive mining), promote transparency, and ensure ethical governance practices to align the crypto industry with broader sustainability and societal goals. These regulations encourage compliance with standards that mitigate risks and foster trust in digital assets.
Name | Bitpanda Asset Management GmbH, Bitpanda GmbH |
Relevant legal entity identifier | 9845005X9B7N610K0093, 5493007WZ7IFULIL8G21 |
Name of the crypto-asset | Nano XNO |
Consensus Mechanism | Nano employs a unique consensus model called Open Representative Voting (ORV), a variant of delegated Proof of Stake (dPoS), and utilizes a block-lattice structure for high-speed, efficient transaction processing. Core Components: 1. Open Representative Voting (ORV): Representative Selection: Each Nano account holder can choose a representative to vote on their behalf in network consensus. Representatives are nodes with delegated voting power, which determines their influence in resolving transaction conflicts. Fast, Low-Energy Voting: Representatives vote on the validity of transactions, achieving consensus without intensive mining or staking, which minimizes energy usage and allows for quick transaction finality. 2. Block-Lattice Structure: Independent Account Chains: Each account has its own chain, allowing asynchronous updates, nearly instant transfers, and high scalability. 3. Spam Prevention: Minimal Proof of Work (PoW): Senders perform a small PoW computation to initiate transactions, deterring spam while remaining lightweight for legitimate users. |
Incentive Mechanisms and Applicable Fees | Nano’s design allows for feeless transactions, emphasizing efficiency and accessibility without traditional financial incentives for validators. Incentive Mechanisms: 1. Community and Organizational Incentives for Representatives: Non-Financial Motivation: Representatives, often exchanges, businesses, or community members, participate in consensus to support the network’s stability and growth rather than for direct financial rewards. Applicable Fees: 1. Feeless Transactions: No Transaction Fees: Nano’s architecture enables feeless transactions, allowing for high-frequency usage without cost to users. 2. Anti-Spam Measures: Small PoW for Transaction Initiation: Users perform a minimal PoW computation to prevent spam, ensuring network resources are reserved for legitimate transactions without imposing fees. |
Beginning of the period | 2024-09-14 |
End of the period | 2025-09-14 |
Energy consumption | 39420.00000 (kWh/a) |