Nano (XNO): questions and answers
Every answer below is written from the sources listed at the end of this page, with the date each one was checked.
The question that decides how you read Nano
A network with no fees and no mining sounds like a free lunch. Nano's history is the record of what it actually costs.
Colin LeMahieu started work in 2014 on a design aimed at two specific complaints about Bitcoin: confirmations were slow and fees were a permanent tax on small payments. The architecture he announced on BitcoinTalk in October 2015 as RaiBlocks broke with the single-chain model entirely — each account owns its own chain, and a transfer is two blocks, a send on the sender's chain and a receive on the recipient's.
What is still unsettled
The spam episode named Nano's permanent trade-off precisely: fees are also a defence. Without them, the network relies on per-transaction proof-of-work and prioritisation rules to keep throughput honest, and each refinement is a judgement about whose transactions get served first under load. It works well in normal conditions; the question is what happens under a determined, funded attack.
What this means when you swap XNO
Transactions are feeless and normally confirm in well under a second, which makes Nano one of the fastest assets to receive in a swap. Addresses use the `nano_` prefix (older `xrb_` addresses map to the same accounts). There is no memo field.
Two practical points. Your wallet computes a small proof-of-work per transaction, so a low-powered device can feel slow even when the network is not. And a receive is its own block: some wallets pocket incoming funds automatically, others show a pending balance until you accept it — if a swap looks like it has not arrived, check for a pending receive before raising a ticket.
Common XNO questions
- How do I swap Nano (XNO) instantly on Monivo?
- Pick XNO as the asset you want to receive, choose what you're paying with, paste your wallet address, and confirm. Monivo routes your order to the provider offering the best rate, and most swaps complete in under 10 minutes — no account needed.
- Can I swap XNO with no KYC?
- Yes. Crypto-to-crypto swaps of XNO on Monivo require no identity verification and no sign-up. Only fiat purchases (card or bank transfer) require KYC, because banks and payment processors mandate it.
- Is swapping Nano on Monivo non-custodial?
- Yes. Monivo never holds your funds. XNO is sent directly to the wallet address you provide, so you stay in control the whole time.
- Which network does XNO use here?
- Monivo supports Nano on the NANO network. Always double-check that your receiving wallet supports this network before confirming.
- What fees apply when I swap XNO?
- Monivo adds zero fees on top. The quote you see already reflects the strongest quote we found across connected providers, including their network and processing costs — all fees are included in the shown amount.
- How can Nano transactions be free?
- There is no mining and no block subsidy to fund, so there is nothing for a fee to pay for. Representatives vote on transactions using weight delegated by holders. The cost is pushed elsewhere: each transaction carries a small proof-of-work, and the network has had to develop prioritisation rules to handle spam.
- My Nano arrived but my balance has not changed — what happened?
- Nano transfers are two blocks: a send and a receive. Some wallets accept incoming funds automatically, others hold them as pending until you open the wallet. Check for a pending or unreceived balance before assuming the transfer failed.
Sources and dates (5)
- The block-lattice design was announced publicly as RaiBlocks in October 2015. Nano Foundation blog · 2015-10-24 · checked 2026-09-21
- The supply was distributed free via a captcha faucet until 2017, with the remainder burned. Nano protocol documentation · 2015-2017 · checked 2026-09-21
- Open Representative Voting replaces mining with delegated weighted votes. Nano protocol documentation · checked 2026-09-21
- A March 2021 spam campaign caused multi-day confirmation delays and exchange suspensions. Nano documentation on spam and prioritisation · 2021-03 · checked 2026-09-21
- US litigation followed the BitGrail loss; the court granted dismissal in part and denied it in part. Fabian v. LeMahieu court order · 2018-2019 · checked 2026-09-21