RaiBlocks has announced that they have rebranded to Nano. Yet, what is RaiBlocks and what does the future hold? 

RaiBlocks was created to succeed Bitcoin. With an aim to provide zero-fee transactions, it was initiated to offer an improved service without the intensive work and energy use that Bitcoin has. While most cryptocurrencies centre on Blockchain technology, creator of RaiBlocks, Colin LeMahieu confirmed that the digital currency was based on something entirely different. In the whitepaper, he explained that RaiBlocks is built on a block-lattice, with every account having its individual Blockchain and every block containing one transaction. Furthermore, if you want to send RaiBlocks to someone, you require a send transaction to reduce your balance and a receive transaction to add to the recipient\'s balance.

There are a number of benefits of using RaiBlocks or the newly named Nano. The main advantage is that as each account has, it\'s own Blockchain, miners are not needed as RaiBlock owners can add to their own Blockchain. In addition to this, there aren\'t any transaction fees, the ledger is small, and transactions are also instant, unlike Bitcoin.

After record growth in December 2017, RaiBlocks have now confirmed that they have rebranded and believe that the future looks bright.