3 ms·
I've read briefly about nano and its super interesting. I don't really understand how its feasible though. What is the incentive for operating a node in the net
by rank0 6y ago
I've read briefly about nano and its super interesting. I don't really understand how its feasible though. What is the incentive for operating a node in the network?
A cryptocurrency that would ACTUALLY be used as a currency needs a resilient network. But if operating a node yields no financial incentive, how is that network supposed to be created?
- Shoue 6y agoThe incentive is the exact thing you're worried about: merchants get to avoid fees. If Nano ever takes off as a payment method, then you'd probably see e.g. large grocery chains operating Nano nodes to avoid fees.
- PragmaticPulp 6y agoCool. But why not just use the nano technology with a USD-backed currency instead? Cut out all of the alternative currency speculation and just let the technology do the work on people's money.
- ketamine__ 6y agoLike USDC.
- jcbrand 6y agoIt looks to me like Nano will suffer from the free-rider problem. If Nano becomes an established currency, then a grocery chain can just rely on the existing Nano nodes to process its transactions (which will still be free), they don't need to run their own node for it.
- MadSudaca 6y agoThey can publicize their brand with a node. Moreover, if they want special functionality they may have to run their own node. In general, running nodes is so cheap that is not prohibitive to wider audiences. Today there are easily more than a hundred nodes running, exchanges, services, etc. The number is bound to increase as the ecosystem grows.