What is Banano?
Banano (BAN) is a fork of the cryptocurrency NANO and was started in April 2018. If I’m not mistaken, it may have started as a Nano testnet. Someone correct me if I am wrong there.
Banano is a meme cryptocurrency with a free and fair distribution and a fun community. Banano is to Nano what Dogecoin is to Bitcoin. These things don’t always have to be taken seriously. The lightheartedness to the Banano and Dogecoin communities is a nice vacation from the typical crypto crowd. If you’re not a fan of a meme coin, I highly recommend you find one and give it a try. Just once. Go on… try the Banano. You’ll love it! I promise. You do need your daily potassium intake!
Because Banano is a Nano fork, using it is intuitive and easy. Banano utilizes a novel DAG (Directed Acyclic Graph) based architecture, where each user possesses his own blockchain. Transactions are feeless and instant.
It’s hard to find a lot of information on the Banano project, but I did come across this interesting piece over at Medium.
Camo BANANO Phase 1 as described here and available for now allows for confidential transactions, but it is not yet completely ready. At the current stage, Camo BANANO is the equivalent of opening 20 BANANO accounts on your BANANO Vault and using all 20 accounts to do transactions, meaning that any person you’d interact with only knows 1/20th of your stack. Camo BANANO allows to make this process easier (as kind of a manual mixer) and thereby in its Phase 1 adds confidentiality to BANANO transactions as proof of concept.
That’s some interesting developments. If they can actually pull off some usable privacy features on a coin with instant transactions, that could be huge. It could also lead to Nano itself adopting the technolohgy.
Banano is a fun interesting project. It is akin to Dogecoin with a funny, friendly, and welcoming community. There are also some interesting things happening on the developer side with the potential of private transactions with Camo Banano.
If you have a sense of humor and want to join a fun community with a good project, give Banano a shot. I swear you’ll love it. I’m going to buy my own little stash of potassium very soon here.
Below I’ve compiled a few resources if you’d like to look further into the project.
Chain Explorer: https://creeper.banano.cc/
OH, and if you want to send me some nanners, you can do so here: