[Script Info]
Title: 
[Events]
Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text
Dialogue: 0,0:00:00.16,0:00:00.67,Default,,0000,0000,0000,,Hey, guys!
Dialogue: 0,0:00:01.06,0:00:04.16,Default,,0000,0000,0000,,So as some of you may know, \NI previously covered \NIOTA in a video.
Dialogue: 0,0:00:04.64,0:00:06.54,Default,,0000,0000,0000,,And I was surprised to find\Nout that the community
Dialogue: 0,0:00:06.57,0:00:08.81,Default,,0000,0000,0000,,didn't seem to like the\Nreview, even though
Dialogue: 0,0:00:08.84,0:00:11.32,Default,,0000,0000,0000,,I thought my information\Nwas unbiased and honest.
Dialogue: 0,0:00:11.41,0:00:13.46,Default,,0000,0000,0000,,And around the same time a\Nproject called RaiBlocks,
Dialogue: 0,0:00:13.48,0:00:15.75,Default,,0000,0000,0000,,which is now NANO, was\Ncatching a lot of traction.
Dialogue: 0,0:00:16.54,0:00:18.65,Default,,0000,0000,0000,,That caught my eye, \Nbecause I was interested
Dialogue: 0,0:00:18.65,0:00:21.48,Default,,0000,0000,0000,,in the DAG technology \Nas it relates to possibly
Dialogue: 0,0:00:21.51,0:00:24.36,Default,,0000,0000,0000,,hedging blockchain tech, \Nbut I liked the fact that
Dialogue: 0,0:00:24.36,0:00:27.100,Default,,0000,0000,0000,,NANO used the DAG tech in a \Ndifferent capacity than IOTA did.
Dialogue: 0,0:00:28.09,0:00:30.53,Default,,0000,0000,0000,,So in this video, as the title \Nhas already explained to you,
Dialogue: 0,0:00:30.86,0:00:31.67,Default,,0000,0000,0000,,I will be covering NANO.
Dialogue: 0,0:00:32.10,0:00:34.33,Default,,0000,0000,0000,,I already mentioned briefly \Nthat it was called RaiBlocks,
Dialogue: 0,0:00:34.33,0:00:36.17,Default,,0000,0000,0000,,but I just want to say \Nthat it's been officially
Dialogue: 0,0:00:36.17,0:00:39.10,Default,,0000,0000,0000,,rebranded and is now \Ncalled NANO completely.
Dialogue: 0,0:00:39.35,0:00:40.64,Default,,0000,0000,0000,,So let's get into\Na little history.
Dialogue: 0,0:00:41.05,0:00:43.12,Default,,0000,0000,0000,,Colin LeMahieu is the\Nfounder of the project
Dialogue: 0,0:00:43.14,0:00:44.84,Default,,0000,0000,0000,,NANO and also the\Nlead developer.
Dialogue: 0,0:00:45.03,0:00:47.18,Default,,0000,0000,0000,,The original whitepaper \Nand also the first beta
Dialogue: 0,0:00:47.18,0:00:50.39,Default,,0000,0000,0000,,implementation of the \Nproject were published \Nin December of 2014.
Dialogue: 0,0:00:50.57,0:00:52.49,Default,,0000,0000,0000,,Surprisingly enough, \Nthat means it's one of the
Dialogue: 0,0:00:52.49,0:00:54.95,Default,,0000,0000,0000,,first cryptocurrencies\Nto start using DAG tech.
Dialogue: 0,0:00:55.52,0:00:58.02,Default,,0000,0000,0000,,Other notable ones are \NByteball and IOTA,
Dialogue: 0,0:00:58.15,0:00:59.54,Default,,0000,0000,0000,,but I'll get into\Nthat in a little bit.
Dialogue: 0,0:00:59.88,0:01:02.83,Default,,0000,0000,0000,,That fact stuck out to me \Na lot because it felt like
Dialogue: 0,0:01:03.02,0:01:06.42,Default,,0000,0000,0000,,RaiBlocks, or NANO, \Nseemingly came out of nowhere.
Dialogue: 0,0:01:06.44,0:01:09.07,Default,,0000,0000,0000,,And to know that the project \Nhad been around since 2014
Dialogue: 0,0:01:09.28,0:01:10.80,Default,,0000,0000,0000,,just sparked my\Ninterest a lot more.
Dialogue: 0,0:01:11.03,0:01:12.37,Default,,0000,0000,0000,,During the time \Nthe network was live
Dialogue: 0,0:01:12.37,0:01:13.67,Default,,0000,0000,0000,,after the genesis \Nof the project,
Dialogue: 0,0:01:13.80,0:01:15.56,Default,,0000,0000,0000,,it had very little\Ndevelopment going on.
Dialogue: 0,0:01:15.84,0:01:17.63,Default,,0000,0000,0000,,It also ran into a few\Ntechnical issues.
Dialogue: 0,0:01:17.84,0:01:19.48,Default,,0000,0000,0000,,At one point, \NColin actually stopped
Dialogue: 0,0:01:19.48,0:01:21.76,Default,,0000,0000,0000,,working on development\Nfor personal reasons.
Dialogue: 0,0:01:21.79,0:01:24.92,Default,,0000,0000,0000,,Then around 2016 - 2017, \Npeople from the community
Dialogue: 0,0:01:24.92,0:01:27.66,Default,,0000,0000,0000,,started to band together to try\Nto push the project forward.
Dialogue: 0,0:01:28.00,0:01:30.46,Default,,0000,0000,0000,,And that's actually how the\NNANO faucet came about.
Dialogue: 0,0:01:30.64,0:01:32.96,Default,,0000,0000,0000,,A community member proposed \Nthis idea because they thought
Dialogue: 0,0:01:32.96,0:01:35.03,Default,,0000,0000,0000,,it would be a good way \Nto distribute RaiBlocks
Dialogue: 0,0:01:35.03,0:01:37.41,Default,,0000,0000,0000,,at the time to everyone\Nwith low liability.
Dialogue: 0,0:01:37.68,0:01:39.27,Default,,0000,0000,0000,,He also volunteered\Nto manage it.
Dialogue: 0,0:01:39.38,0:01:41.64,Default,,0000,0000,0000,,At that point, development \Njust started to pick back up
Dialogue: 0,0:01:41.97,0:01:45.14,Default,,0000,0000,0000,,and there's contributors \Nwho have been joining \Nmore rapidly ever since.
Dialogue: 0,0:01:45.56,0:01:48.41,Default,,0000,0000,0000,,That brings us to present day \Nwhere we've seen this rapid
Dialogue: 0,0:01:48.41,0:01:50.68,Default,,0000,0000,0000,,momentum and growth\Nthat's come out of NANO.
Dialogue: 0,0:01:50.78,0:01:52.27,Default,,0000,0000,0000,,Let's talk about\Ndistribution a little bit.
Dialogue: 0,0:01:52.47,0:01:54.01,Default,,0000,0000,0000,,So unlike a lot of\Nother projects,
Dialogue: 0,0:01:54.35,0:01:55.98,Default,,0000,0000,0000,,NANO did not run an ICO.
Dialogue: 0,0:01:56.38,0:01:58.58,Default,,0000,0000,0000,,The original distribution\Nwas performed by using an
Dialogue: 0,0:01:58.58,0:02:01.42,Default,,0000,0000,0000,,online mining mechanism,\Nor what's called a faucet.
Dialogue: 0,0:02:01.64,0:02:03.49,Default,,0000,0000,0000,,Essentially it was just a \Nwebsite you would go to,
Dialogue: 0,0:02:03.49,0:02:05.56,Default,,0000,0000,0000,,you would complete a Captcha, \Nand then you would receive
Dialogue: 0,0:02:05.56,0:02:07.69,Default,,0000,0000,0000,,a small amount of the\Ncoin as a reward.
Dialogue: 0,0:02:07.86,0:02:10.90,Default,,0000,0000,0000,,Faucets were really popular \Nduring the genesis of the \Ncryptocurrency movement.
Dialogue: 0,0:02:11.35,0:02:13.03,Default,,0000,0000,0000,,It gave people a way to get \Ninvolved in the project,
Dialogue: 0,0:02:13.13,0:02:15.94,Default,,0000,0000,0000,,and have a little bit of the\Nproject without any liability
Dialogue: 0,0:02:15.94,0:02:18.44,Default,,0000,0000,0000,,or any of those pesky Know\NYour Customer requirements.
Dialogue: 0,0:02:18.53,0:02:22.56,Default,,0000,0000,0000,,When NANO started it was premined \Nand all the available coins \Nwere kept in a genesis wallet.
Dialogue: 0,0:02:22.86,0:02:25.08,Default,,0000,0000,0000,,And the private key for that \Ngenesis wallet was kept
Dialogue: 0,0:02:25.08,0:02:27.31,Default,,0000,0000,0000,,in a safety deposit box\Nthat was held by Colin.
Dialogue: 0,0:02:27.48,0:02:29.42,Default,,0000,0000,0000,,Then as distribution by\Nthe faucet continued,
Dialogue: 0,0:02:29.75,0:02:31.75,Default,,0000,0000,0000,,he would occasionally have to \Ngo to the safety deposit box,
Dialogue: 0,0:02:32.15,0:02:34.79,Default,,0000,0000,0000,,take out the private key, \Nsend a transaction to the
Dialogue: 0,0:02:34.79,0:02:36.82,Default,,0000,0000,0000,,landing wallet so that he\Ncould fund the faucet,
Dialogue: 0,0:02:36.82,0:02:39.73,Default,,0000,0000,0000,,and then he would put the private\Nkey back in the safety deposit box.
Dialogue: 0,0:02:39.80,0:02:41.90,Default,,0000,0000,0000,,The faucet actually managed\Nto reach a lot of people.
Dialogue: 0,0:02:42.22,0:02:46.72,Default,,0000,0000,0000,,The team estimates somewhere \Nin the range of 330,000 \Naccounts accessed the faucet.
Dialogue: 0,0:02:47.19,0:02:51.26,Default,,0000,0000,0000,,Those accounts were hailing mostly \Nout of countries like Venezuela, \NThe Philippines, and Korea.
Dialogue: 0,0:02:51.34,0:02:54.74,Default,,0000,0000,0000,,The faucet became very popular, \Nfor good reason, and unfortunately
Dialogue: 0,0:02:54.74,0:02:56.44,Default,,0000,0000,0000,,like all good things it\Nmust come to an end.
Dialogue: 0,0:02:56.58,0:02:59.35,Default,,0000,0000,0000,,There was a lot of issues \Nwith people accumulating
Dialogue: 0,0:02:59.45,0:03:03.08,Default,,0000,0000,0000,,NANO off the faucet and then \Nimmediately going \Nto an exchange and selling it.
Dialogue: 0,0:03:03.40,0:03:07.61,Default,,0000,0000,0000,,They were putting a lot of \Nsell pressure on the exchanges, \Nand this was suppressing the price.
Dialogue: 0,0:03:07.69,0:03:10.56,Default,,0000,0000,0000,,Not to mention, there were endless \Nattempts to hack the faucet which meant
Dialogue: 0,0:03:10.56,0:03:14.26,Default,,0000,0000,0000,,the developers of NANO, \Ninstead of appropriately spending \Ntheir time working on the project,
Dialogue: 0,0:03:14.70,0:03:17.10,Default,,0000,0000,0000,,they were focused on trying to\Nkeep the faucet up and running.
Dialogue: 0,0:03:17.21,0:03:19.63,Default,,0000,0000,0000,,NANO actually got delisted \Nfrom Cryptopia because
Dialogue: 0,0:03:19.63,0:03:22.30,Default,,0000,0000,0000,,the faucet users were abusive\Ntoward the exchange support.
Dialogue: 0,0:03:22.68,0:03:25.66,Default,,0000,0000,0000,,But eventually they managed \Nto get listed on Mercatox and BitGrail.
Dialogue: 0,0:03:25.90,0:03:27.47,Default,,0000,0000,0000,,And unfortunately, \Nbecause of all the issues
Dialogue: 0,0:03:27.47,0:03:28.78,Default,,0000,0000,0000,,that they were running\Ninto with the faucet,
Dialogue: 0,0:03:28.78,0:03:30.81,Default,,0000,0000,0000,,they ended up deciding\Nto turn it off early.
Dialogue: 0,0:03:31.19,0:03:34.41,Default,,0000,0000,0000,,Only about 39% of the \Ntotal original circulating
Dialogue: 0,0:03:34.41,0:03:36.86,Default,,0000,0000,0000,,amount of NANO is out\Nthere right now.
Dialogue: 0,0:03:36.89,0:03:39.15,Default,,0000,0000,0000,,They then publicly released \Nthe address to the genesis account,
Dialogue: 0,0:03:39.29,0:03:41.39,Default,,0000,0000,0000,,the landing wallet, \Nand the faucet account.
Dialogue: 0,0:03:41.74,0:03:43.86,Default,,0000,0000,0000,,That way there's complete \Ntransparency within the community,
Dialogue: 0,0:03:44.12,0:03:47.09,Default,,0000,0000,0000,,and I'll put those addresses \Nbelow in the description \Nso you can see for yourself.
Dialogue: 0,0:03:47.20,0:03:48.73,Default,,0000,0000,0000,,No portion of the NANO\Ncoins have been kept
Dialogue: 0,0:03:48.73,0:03:50.23,Default,,0000,0000,0000,,from the original\Ngenesis of the project,
Dialogue: 0,0:03:50.60,0:03:54.30,Default,,0000,0000,0000,,and all the NANO that is\Nin circulation right now \Nis the total that will be distributed.
Dialogue: 0,0:03:54.50,0:03:55.54,Default,,0000,0000,0000,,On to the technology.
Dialogue: 0,0:03:55.80,0:03:59.86,Default,,0000,0000,0000,,NANO is a trustless, low-latency, \Nthird generation cryptocurrency.
Dialogue: 0,0:04:00.14,0:04:03.14,Default,,0000,0000,0000,,And unlike a lot \Nof other cryptocurrencies \Nthat use normal blockchain,
Dialogue: 0,0:04:03.51,0:04:06.31,Default,,0000,0000,0000,,NANO utilizes what's called\Na block lattice structure.
Dialogue: 0,0:04:06.53,0:04:10.96,Default,,0000,0000,0000,,NANO's focus is for fast, \Nfree, trustless transactions \Nfrom peer-to-peer.
Dialogue: 0,0:04:11.35,0:04:15.32,Default,,0000,0000,0000,,And that's where they mainly \Ndiffer from IOTA because IOTA's \Nfocus is more machine to machine.
Dialogue: 0,0:04:15.49,0:04:17.79,Default,,0000,0000,0000,,The team has stated that they are \Nmore focused on micropayments
Dialogue: 0,0:04:18.06,0:04:19.66,Default,,0000,0000,0000,,instead of dealing with\Nthe internet of things,
Dialogue: 0,0:04:19.93,0:04:21.83,Default,,0000,0000,0000,,but they haven't completely\Nruled that out as a possible
Dialogue: 0,0:04:21.83,0:04:23.96,Default,,0000,0000,0000,,use case if people are\Ninterested in doing so.
Dialogue: 0,0:04:24.06,0:04:26.47,Default,,0000,0000,0000,,In my IOTA video I had\Nexplained what a DAG was,
Dialogue: 0,0:04:26.47,0:04:29.84,Default,,0000,0000,0000,,which is Directed Acyclic Graph,\Nbut I'll quickly summarize again.
Dialogue: 0,0:04:29.87,0:04:33.64,Default,,0000,0000,0000,,Directed means that new transactions\Nvalidate preceding transactions.
Dialogue: 0,0:04:33.81,0:04:35.61,Default,,0000,0000,0000,,Acyclic means that\Nit's not a circle.
Dialogue: 0,0:04:35.89,0:04:39.47,Default,,0000,0000,0000,,And graph refers to the fact \Nthat the block lattice also \Ndoubles as the ledger.
Dialogue: 0,0:04:39.64,0:04:43.73,Default,,0000,0000,0000,,When one wallet wants to send \Na transaction to another, \Nthat wallet creates two blocks.
Dialogue: 0,0:04:43.87,0:04:45.79,Default,,0000,0000,0000,,One block will go \Non the sender's blockchain,
Dialogue: 0,0:04:46.05,0:04:48.01,Default,,0000,0000,0000,,and one block will go on\Nthe receiver's blockchain.
Dialogue: 0,0:04:48.03,0:04:49.42,Default,,0000,0000,0000,,When the receiving\Nparty comes online,
Dialogue: 0,0:04:49.42,0:04:50.89,Default,,0000,0000,0000,,and their blockchain\Nconnects to the network,
Dialogue: 0,0:04:51.16,0:04:54.02,Default,,0000,0000,0000,,the wallet will then pocket the funds\Nand the transaction is completed.
Dialogue: 0,0:04:54.05,0:04:57.22,Default,,0000,0000,0000,,Transferring funds on NANO's protocol \Ncreates two separate transactions.
Dialogue: 0,0:04:57.61,0:04:59.70,Default,,0000,0000,0000,,The first one deducts the amount\Nfrom the sender's wallet,
Dialogue: 0,0:05:00.00,0:05:02.75,Default,,0000,0000,0000,,and then the second one adds the\Namount to the receiver's wallet.
Dialogue: 0,0:05:02.77,0:05:04.84,Default,,0000,0000,0000,,Each send transaction must\Nreference the owner's
Dialogue: 0,0:05:04.84,0:05:07.51,Default,,0000,0000,0000,,previous block in order to\Nprevent a double spend.
Dialogue: 0,0:05:07.79,0:05:10.98,Default,,0000,0000,0000,,NANO uses a Delegated Proof\Nof Stake system, or DPoS.
Dialogue: 0,0:05:11.41,0:05:14.18,Default,,0000,0000,0000,,If you don't know what that means, \Npop over to my Crypto 101 video
Dialogue: 0,0:05:14.18,0:05:16.82,Default,,0000,0000,0000,,where I cover consensus protocols\Nso you can get a better idea.
Dialogue: 0,0:05:16.96,0:05:19.55,Default,,0000,0000,0000,,Basically, this just means that \Nusers have the ability to choose
Dialogue: 0,0:05:19.55,0:05:21.86,Default,,0000,0000,0000,,a representative node to\Nvote on their behalf.
Dialogue: 0,0:05:21.89,0:05:23.33,Default,,0000,0000,0000,,The voting system is\Nbalance weighted.
Dialogue: 0,0:05:23.77,0:05:26.03,Default,,0000,0000,0000,,And what that means is the weight \Nof the representative vote
Dialogue: 0,0:05:26.03,0:05:29.46,Default,,0000,0000,0000,,is directly proportional \Nto the amount of NANO \Nthat's linked to their account.
Dialogue: 0,0:05:29.48,0:05:32.88,Default,,0000,0000,0000,,The greater the amount of NANO \Nlinked to the representative, \Nthe stronger the vote will be.
Dialogue: 0,0:05:33.21,0:05:34.84,Default,,0000,0000,0000,,There's a public list \Nof the representatives,
Dialogue: 0,0:05:34.84,0:05:36.52,Default,,0000,0000,0000,,and I will leave that\Nlink in the description.
Dialogue: 0,0:05:36.54,0:05:38.44,Default,,0000,0000,0000,,It's important to note \Nthat the NANO architecture
Dialogue: 0,0:05:38.44,0:05:41.41,Default,,0000,0000,0000,,also utilizes Proof of Work\Nin a very minor capacity.
Dialogue: 0,0:05:41.77,0:05:43.50,Default,,0000,0000,0000,,They use it as an\Nanti-spam measure.
Dialogue: 0,0:05:43.75,0:05:47.38,Default,,0000,0000,0000,,Essentially because the NANO network \Ndoesn't require transaction fees,
Dialogue: 0,0:05:47.61,0:05:49.45,Default,,0000,0000,0000,,somebody could\Nindefinitely spam it.
Dialogue: 0,0:05:49.57,0:05:50.88,Default,,0000,0000,0000,,With the Proof of\NWork implementation,
Dialogue: 0,0:05:51.05,0:05:53.19,Default,,0000,0000,0000,,each block requires a very\Nsmall amount of work.
Dialogue: 0,0:05:53.75,0:05:56.51,Default,,0000,0000,0000,,Five seconds to generate, \Nand one microsecond to validate.
Dialogue: 0,0:05:56.63,0:05:58.39,Default,,0000,0000,0000,,This would force a malicious\Nactor to dedicate
Dialogue: 0,0:05:58.39,0:06:00.29,Default,,0000,0000,0000,,a lot of computing power\Nto carry out an attack,
Dialogue: 0,0:06:00.79,0:06:04.43,Default,,0000,0000,0000,,while simultaneously \Nonly requiring a very small \Namount from individual users,
Dialogue: 0,0:06:04.86,0:06:06.77,Default,,0000,0000,0000,,overall preventing a\Nmuch bigger problem.
Dialogue: 0,0:06:06.91,0:06:10.07,Default,,0000,0000,0000,,NANO has desktop wallets \Nthat are available to \NMacs, Linux, and Windows.
Dialogue: 0,0:06:10.07,0:06:12.12,Default,,0000,0000,0000,,And there's also the\Navailability of a web wallet.
Dialogue: 0,0:06:12.27,0:06:15.21,Default,,0000,0000,0000,,The team is very active \Non their Discord server \Nand within their community.
Dialogue: 0,0:06:15.45,0:06:19.13,Default,,0000,0000,0000,,They were a great resource \Nfor me to help ask questions to get \Nsome information for this video.
Dialogue: 0,0:06:19.61,0:06:21.18,Default,,0000,0000,0000,,Not to mention that\Nthey just rebranded,
Dialogue: 0,0:06:21.18,0:06:24.26,Default,,0000,0000,0000,,so I think overall that shows\Ndedication for the project long term.
Dialogue: 0,0:06:24.28,0:06:25.80,Default,,0000,0000,0000,,So that brings us\Nto the present day.
Dialogue: 0,0:06:25.94,0:06:29.76,Default,,0000,0000,0000,,And the current market cap\Nsits at about USD$133 million.
Dialogue: 0,0:06:30.20,0:06:32.36,Default,,0000,0000,0000,,And Nano is at number\N23 on CoinMarketCap.
Dialogue: 0,0:06:32.78,0:06:35.09,Default,,0000,0000,0000,,Not to mention the rebranding\Nwhich I touched on before.
Dialogue: 0,0:06:35.34,0:06:37.51,Default,,0000,0000,0000,,That just happened, well, today.
Dialogue: 0,0:06:37.94,0:06:40.03,Default,,0000,0000,0000,,Looking forward to\N2018 on their Roadmap,
Dialogue: 0,0:06:40.20,0:06:42.17,Default,,0000,0000,0000,,they would like to create a\Nlite wallet at some point.
Dialogue: 0,0:06:42.60,0:06:44.34,Default,,0000,0000,0000,,They also said that they \Nwould like to do some
Dialogue: 0,0:06:44.34,0:06:46.84,Default,,0000,0000,0000,,chain pruning on the network\Nto reduce the size of it.
Dialogue: 0,0:06:46.86,0:06:47.88,Default,,0000,0000,0000,,On to the Pros.
Dialogue: 0,0:06:48.09,0:06:50.79,Default,,0000,0000,0000,,I would like to start off by saying\Nthat the team was very receptive.
Dialogue: 0,0:06:50.99,0:06:52.45,Default,,0000,0000,0000,,Everybody was very\Neasy to get a hold of
Dialogue: 0,0:06:52.45,0:06:55.02,Default,,0000,0000,0000,,and there's a lot of communication\Ngoing on in the Discord server.
Dialogue: 0,0:06:55.41,0:06:58.55,Default,,0000,0000,0000,,They were also very transparent \Nand forthcoming about \Nthe genesis of the project,
Dialogue: 0,0:06:58.92,0:07:01.49,Default,,0000,0000,0000,,how they started, and they were \Nwilling to answer questions for me,
Dialogue: 0,0:07:01.82,0:07:03.29,Default,,0000,0000,0000,,the things that I\Ncouldn't find online.
Dialogue: 0,0:07:03.31,0:07:07.13,Default,,0000,0000,0000,,I would also like to point out \Nso far there's been no significant \Ndrama with the team,
Dialogue: 0,0:07:07.39,0:07:10.03,Default,,0000,0000,0000,,and within the crypto community\Nthat's a pretty big accomplishment.
Dialogue: 0,0:07:10.12,0:07:11.80,Default,,0000,0000,0000,,I also love the way that\Nthe project started.
Dialogue: 0,0:07:11.96,0:07:13.70,Default,,0000,0000,0000,,I think that utilizing \Nthe faucet idea
Dialogue: 0,0:07:13.97,0:07:16.80,Default,,0000,0000,0000,,was a great way to get people \Ninvolved and distribute the coin
Dialogue: 0,0:07:17.07,0:07:20.01,Default,,0000,0000,0000,,without anybody feeling like\Nmaybe there was a risk involved.
Dialogue: 0,0:07:20.04,0:07:22.01,Default,,0000,0000,0000,,Another pro would be \Ntheir rebranding for me
Dialogue: 0,0:07:22.01,0:07:23.42,Default,,0000,0000,0000,,because I think\Nthat the old name
Dialogue: 0,0:07:23.44,0:07:25.31,Default,,0000,0000,0000,,RaiBlocks was a\Nbit of a misnomer
Dialogue: 0,0:07:25.64,0:07:27.78,Default,,0000,0000,0000,,considering they didn't use \Na traditional blockchain
Dialogue: 0,0:07:28.08,0:07:29.39,Default,,0000,0000,0000,,and they used a block lattice.
Dialogue: 0,0:07:29.42,0:07:30.82,Default,,0000,0000,0000,,And unlike some of\Nit's competitors,
Dialogue: 0,0:07:30.88,0:07:32.22,Default,,0000,0000,0000,,it doesn't have a\Ncentral authority
Dialogue: 0,0:07:32.48,0:07:34.69,Default,,0000,0000,0000,,managing transactions or\Nmaintaining the network.
Dialogue: 0,0:07:34.92,0:07:37.59,Default,,0000,0000,0000,,So this is a fully\Ndecentralized cryptocurrency.
Dialogue: 0,0:07:37.74,0:07:38.74,Default,,0000,0000,0000,,On to the Cons.
Dialogue: 0,0:07:38.91,0:07:42.60,Default,,0000,0000,0000,,I would have started off by\Nsaying that they need to rebrand,\Nbut they already did that.
Dialogue: 0,0:07:43.20,0:07:46.23,Default,,0000,0000,0000,,And in the same light, \Nas much as I like the faucet idea,
Dialogue: 0,0:07:46.37,0:07:48.70,Default,,0000,0000,0000,,it still is essentially\Na premined coin.
Dialogue: 0,0:07:48.82,0:07:51.14,Default,,0000,0000,0000,,I mentioned this in my IOTA\Nvideo, so I'll mention it here.
Dialogue: 0,0:07:51.70,0:07:56.42,Default,,0000,0000,0000,,DAG technology does not have \Nthe amount of testing let's say \Nthat the blockchain does.
Dialogue: 0,0:07:56.69,0:08:00.08,Default,,0000,0000,0000,,So we don't know if it gets to \NBitcoin-sized transactions
Dialogue: 0,0:08:00.41,0:08:02.48,Default,,0000,0000,0000,,if the speed or the\Nefficiency of the network
Dialogue: 0,0:08:02.75,0:08:04.14,Default,,0000,0000,0000,,is going to be compromised.
Dialogue: 0,0:08:04.17,0:08:07.39,Default,,0000,0000,0000,,Another issue is if in theory \Nan attacker bought up millions
Dialogue: 0,0:08:07.39,0:08:09.52,Default,,0000,0000,0000,,of NANO they could carry\Nout a voting attack.
Dialogue: 0,0:08:09.81,0:08:13.03,Default,,0000,0000,0000,,NANO does recognize this as a\Nweakness and a possible issue,
Dialogue: 0,0:08:13.32,0:08:15.05,Default,,0000,0000,0000,,but they don't see it \Nas a large threat
Dialogue: 0,0:08:15.20,0:08:17.100,Default,,0000,0000,0000,,because of the fact that an\Nattacker would have to buy up an
Dialogue: 0,0:08:18.02,0:08:20.91,Default,,0000,0000,0000,,extraordinarily large amount\Nof money to pull that off.
Dialogue: 0,0:08:20.93,0:08:22.14,Default,,0000,0000,0000,,All in all, if you're interested
Dialogue: 0,0:08:22.14,0:08:24.60,Default,,0000,0000,0000,,in DAG technology as a\Nhedge for the blockchain,
Dialogue: 0,0:08:24.87,0:08:28.01,Default,,0000,0000,0000,,and you don't really like IOTA, \Nthen NANO might be for you.
Dialogue: 0,0:08:28.16,0:08:31.27,Default,,0000,0000,0000,,My normal disclaimer applies to this\Nvideo and all of my other videos.
Dialogue: 0,0:08:31.59,0:08:33.75,Default,,0000,0000,0000,,Please do not take my\Nopinion as trading advice,
Dialogue: 0,0:08:33.75,0:08:36.62,Default,,0000,0000,0000,,and please do your own research if\Nyou're going to invest in something.
Dialogue: 0,0:08:36.81,0:08:39.25,Default,,0000,0000,0000,,As always, I appreciate you\Nguys coming to watch my videos.
Dialogue: 0,0:08:39.38,0:08:41.32,Default,,0000,0000,0000,,If you disagree with me and\Nyou want to tell me why,
Dialogue: 0,0:08:41.69,0:08:43.36,Default,,0000,0000,0000,,feel free to come on my\NDiscord and hang out.
Dialogue: 0,0:08:43.39,0:08:44.69,Default,,0000,0000,0000,,We're in there\Npretty frequently.
Dialogue: 0,0:08:45.04,0:08:48.09,Default,,0000,0000,0000,,And also I've started making\Npodcast versions of these videos.
Dialogue: 0,0:08:48.09,0:08:49.69,Default,,0000,0000,0000,,Obviously, it's just audio only.
Dialogue: 0,0:08:50.00,0:08:52.59,Default,,0000,0000,0000,,But I put them \Non my Patreon account and \Nthey are there for contributors.
Dialogue: 0,0:08:52.76,0:08:55.46,Default,,0000,0000,0000,,So if you are interested, I will\Nlink my Patreon in the description.
Dialogue: 0,0:08:55.82,0:08:57.90,Default,,0000,0000,0000,,And again, thank you for\Ncoming and stopping by,
Dialogue: 0,0:08:59.37,0:08:59.88,Default,,0000,0000,0000,,and I will see you guys soon.