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I'm cautiously optimistic after reading a bit about nano, but have a few questions and concerns after browsing the page for a bit. If anyone can give some answe

I'm cautiously optimistic after reading a bit about nano, but have a few questions and concerns after browsing the page for a bit. If anyone can give some answers to my questions I'll be very grateful - My understanding is, that the initial distribution of Nano was the only time new coins will be generated. Is that correct? - I can't find any information on protection mechanisms against voting monopolies. If a few representatives accumulate enough Nano, they could simply start voting against transactions that removes money from their voters. It makes me concerned that the "freedom" will only exist as long as the wealth equality is high. Have I missed something here?

onelastjob 6y ago
Yes, the initial distribution was the only time Nano could be minted. Additional Nano will never be minted. Nano uses something called ORV (open representative voting). If you hold Nano, you can delegate the voting weight of your Nanos to any representative you want at any time. Representatives that get a certain amount of voting weight delegated to them become Principal Reps. If bad actors have 51% of voting weight delegated to them, they could block transactions from happening. But if this happened, Nano holders would just delegate their voting weight to different reps. If the bad actors actually owned 51% of the Nano supply, then they could block transactions indefinitely, but this would crash the value of the coin and since they would be holding 51% of the Nano supply they would lose money by doing this.