I don’t understand how there can be no fees. What’s the catch?
It is simple, there are NO MINERS to pay to facilitate your transactions.
Each account has its own blockchain and only that account has the ability to add blocks to the individual chain. It adds these blocks with a small amount of Proof of Work.
Because the protocol is incredibly lightweight and running a node on the network requires little energy, Nano’s transactions are always processed with zero fees.
Quieres decir "demasiado bueno para ser real?" Pues, bienvenido al futuro
It's actually all magic and Colin is a Wizard
The Wizard of Nanoz?
Other crypto use fees for spam prevention, Nano instead uses a small proof of work that can be generated by your wallet as a means of spam prevention. This requires a small amount of computation to be done as opposed to a fee in nano.
- This can create a better user experience because no funds are lost during a p2p transfer
- Other crypto have to figure out what to do with the fee... burn it? give it to the nodes? these create complications