There’s bit news this month as Raiblocks has officially announce their rebrand to Nano. There used to be ongoing questions on how Raiblocks was pronounced with many asking, “is it pronounced rye or ray?” The name Raiblocks is incredibly clunky, and many have been suggesting a name change for quite some time.
The developers have put those questions to rest with their official rebrand announcement on Medium. They also published a slick new website Nano.org, highlighting the joys of instant transactions, zero fees, and unlimited scalability.
Personally, I’m all for Nano. I would have preferred Rai purely out of nostalgia, but the change to Nano is a perfect way to market towards non-tech-literate individuals.
Another significant event is the Binance listing of Nano. It’s been added to their site, but trading is not enabled just yet. They’ve set their withdrawal fee to 1 XRB, which comes with the reasonable backlash. 1 XRB is a little over $16 at the time of writing, and is sure to increase over the next couple weeks. Unless you’re a day trader or high-volume buying, I would recommend using an exchange with lower fees such as Kucoin or Bit-Z.
I do expect Binance to lower the fee after they receive feedback from the community, along with the market eventually telling them that people do not enjoy fees as high as that.