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Bitcoin has shaken the global financial system to the core. Once it entered mainstream markets in 2009, we began to see a growing shift from government-backed fiat to modern cryptographic payment systems operating in a secure and trustless manner.
So, why isn’t Bitcoin an everyday currency?
Bitcoin’s scalability is limited due to high fees on its network and increased transaction latency. However, its biggest challenge is its use of a proof of work (PoW) consensus mechanism that relies on miners using energy-heavy equipment to confirm transactions.
Mining Bitcoin is wearing the environment down. We need more sustainable alternatives to Bitcoin, and Nano fits the bill.
But is Nano cryptocurrency better than Bitcoin? Let’s find out.