After an unprecedented meteoric growth in December, Raiblocks soared into the top cryptocurrency ranks with style, increasing by over 150-fold to reach a market cap of $4 billion at its peak in early-January.
However, amidst the huge potential Raiblocks has shown over the past few months, there has always been one nagging concern - the name of the project itself.
“Is it, ray or rye?,” “Ditch the Blocks!,” “Just call it Rai!”
Feedback from the highly-supportive Raiblocks community suggested that improvements could be made to better resonate with the public and a mainstream audience. Because of this, the Raiblocks team made the decision to rebrand.
Aiming for a name that embodies the simplicity of the project as well as Raiblock's unbelievably fast transaction speeds, they finally settled with "Nano". The new logo uses several nodes, playing on the block-lattice design of the network, that connect to form an “N.” All social media accounts will be updated to reflect the name and logo changes. The new website is nano.org.
According to the developers, all funds, wallets, and transactions will still operate as they have been, although there has been a change in the web wallet's address - instead of raiwallet.io, the new address is nanowallet.io. Addresses will continue to start with xrb_ for the moment. In the future, the "xrb_" prefix will be replaced by "nano_ " while maintaining the rest of the current addresses.
Introduction of The iOS Wallet and the Nano Desktop Wallet
"The launch of Nano is just the beginning of what will be an exciting 2018!"