What Is Banano (BAN)?

Banano is an instant and feeless cryptocurrency powered by DAG (Directed Acyclic Graph) technology disrupting the meme economy. The meme economy is a satire where memes inspired by social media jokes are treated as capital assets with fluctuating values. The project was a hard fork of NANO Coin in 2018 that started as a joke between a group of NANO contributors. The project aims to educate the community and attract crypto newbies through a fun attitude using a gamification approach to handle the crypto assets responsibly and efficiently.

According to the whitepaper, Banano is a 4th-generation fungible and potassium-rich cryptocurrency with the following key features:

1. Block Lettuce: Banano uses a Block Lettuce architectural technology where each user possesses their blockchain for instant and feeless transactions with accuracy resulting in a vast reduction in time and work.

2. Crypto Wallet: To keep the Banano coins safe and secure, users need a crypto wallet with public and private keys.

3. Delegated Proof of Stake: The Banano ledger is secured through an open representative voting mechanism known as DPoS (delegated proof-of-stake), which makes the project run sustainably without the need for the account owner node to be running to participate in voting.

4. Proof of Work: Banano uses proof of work as an anti-spam tool with almost instant computation.

5. MonKeys: MonKeys are the visual representations of wallet addresses that help identify users while protecting the privacy of the account holder.

The project did not go for (initial coin offer) ICO; instead, it distributes all coins fairly through faucets, games, contests, giveaways, and airdrops. Meanwhile, Banano is experimenting with additional features such as a privacy layer (Camo BANANO), on-chain messaging (MonkeyTalks), and more. The project is community focused; some of the community projects are Banana How (a place to get help getting started), Banano Bet (fair dice game for Banano), Jungle Live (video sharing platform to earn & spend Banano), and Banano Fun (tailor-made Banano memes and animations)

BAN is the native token of Banano that serves a utility function for earning rewards and payments by gaming or contests and as a governing token for participating in an open representative voting mechanism by staking.

History of Banano (BAN)

The project has a meme-rich, interactive, animated yellow paper. The team is top-notch, and the project advisors were inspired by crypto masterminds, including Pajeet, Bummer, Trevon, Satoshi Nakamoto, and Carlos. The project has a total supply of 1.91 billion BAN coins.