Why is NANO Going Up Right Now: Stress Test Results, Coinbase Next? 2493

why is nano going up

Nano (NANO) is one of the fastest cryptocurrencies around. In fact, it can lay a solid claim to being the fastest cryptocurrency on the market. Earlier this year, it dazzled onlookers, beating out the rest of the competition with ease to be christened the fastest cryptocurrency available according to tests conducted by Binance.

Nano V15 Manages 200 TPS With Ease

As the team gears up for the release of V15 of the Nano network, the team has recently undertaken a stress test of the beta version of the new network. As per the announcement on the official Nano Twitter, the beta network running V15 was able to handle 200 TPS (transactions per second) without breaking a sweat.

A larger stress test is planned to take place tomorrow, and the entire community is eagerly awaiting the results.

A More Resilient Network

Last month, the Nano network found itself on the receiving end of a spam attack, which it handled better than many, including the apparent attackers, were expecting. The spam attack in question came hot on the heels of another major upgrade to the network a month or so prior. This upgrade led to an expected rise in network traffic, something the attackers tried to take advantage of.

Despite hitting the network when it was already vulnerable, and hitting it with a transaction rate of 250,000 over 2 hours (giving a TPS of roughly 70), the network held up with minimal disruption. Now the team has evidence that V15 of the network can handle roughly 3 times as much as traffic with ease.

The currency has already cemented its reputation for being one of the fastest currencies on the market, as well as being feeless, and easy to use. The results of this latest stress test should put to rest any lingering doubts that might have remained about Nano’s long-term viability, and the strength of its network.

Is Coinbase Next?

coinbase nano

The market has not left this news unnoticed as Nano’s price jumped more than +150% in the last three days on Binance. There has been plenty of speculation on a Coinbase listing in the past as Nano seems to possess most of the pre-requisites required.

nano binance price

In July, during an interview with CNBC Fast Money, Adam White, the VP and General Manager of Coinbase mentioned that they have acquired a series of broker-dealer licenses. These licenses will allow the platform to operate effectively as a regulated compliant exchange, a regulated compliant custodian, and asset manager which are all important for institutions.

Nano is already established as a “non-security” and with its main Achilles heel – network stability having been amended Nano could already have one foot in the door.

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