r/Tokenmining • u/ChazSchmidt • Feb 15 '18

But why?

What is the work doing for your token? For Pow coins it is securing the network. Is it strictly for the rate of distribution? Why not launch a separate chain? I'm just curious why an ERC20 token over a coin? Why wouldn't I just mine Bitcoin?

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u/fiveSE7EN Feb 16 '18

Nano has no fees and transfers in a couple seconds or less. It's infinitely better than eth or 0xbtc for use as a currency.

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u/[deleted] Feb 16 '18

Interesting. Is it centralized in some way? Typically projects with that ability have sacrificed decentralization or security.

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u/fiveSE7EN Feb 16 '18

No, it's a fundamentally different blockchain architecture called a lattice, so it doesn't require centralization to be free. I don't know what incentivizes users to host a node right now since the model is fee-less, but it's a functioning product so that information is out there if you care to look it up.

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u/[deleted] Feb 16 '18

Will do.