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Altcoins => Altcoin discussion => Topic started by: Nanobit on May 31, 2014, 08:05:37 PM

Title: [ANN][NAN]Nanobit- 10 billion coins PoS-Advanced, Market, Auctions + Demo Wallet
Post by: Nanobit on May 31, 2014, 08:05:37 PM
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Technical Specifications

Total Supply: 10 billion coins
Block Time: 75 seconds
Block Reward: 30,000 NAN
Block Halving Rate: 50,000 blocks
Coin Maturity: 10 minted blocks
Proof of Stake-Advanced
3 confirms for a transaction
0% Transaction fees
Kimoto's Gravity Well
RPC: 46001
P2P: 47002

Abbreviation: NAN

Developed and maintained by

The Nanobit Foundation® ( A registered ISO/MSP of: NAN GmbH (reg. Amtsgericht München HRB 209834/28 January, 2014) Official Company Records  (;jsessionid=C19FE1B53DED210EA069B17CFE74D17D.web04-1?submitaction=showDkTree&gkz=D2601&gkzalt=&rtype=HRB&rnr=209834&cname=N.A.N.+GmbH&state=2&location=) Official Registration Files (;jsessionid=C19FE1B53DED210EA069B17CFE74D17D.web04-1?submitaction=registerdocument&iddok=null&ausdruckart=UT&gkz=D2601&gkzalt=&rtype=HRB&rnr=209834&cname=N.A.N.%20GmbH&state=2&location=)

Germany, Fürstenfeldbruck
Hubertusstr. 26
+49 02 31 755 60

View on Google Maps (,11.2299483,17z/data=!3m1!4b1!4m2!3m1!1s0x479e801bc2153935:0x4164560cd65fac31)



Update: nanobit-qt Wallet v0.6.2 available here (
            Original thread on bitcointalk (
            Wallet isn't working? Download this ( then run it again.
            We will update this thread as soon as we can. We're going to call it a night, today it was a pretty tough day. We're really looking forward to community feedback on this project, and we hope you will be as excited as we are! Everything will be updated once a day (all lists included)

What is Nanobit?

It's the online projection of combined thoughts of several people's higher intentions regarding absolute freedom, innovation, safety, quickness and fairness in trading. This is what we want to bring to this world, this is Nanobit. This project is backed by a very transparent company which oversees and sponsors every activity, without which none of this would have been made possible.

What does the Nanobit bring new to the already over-populated scene of crypto-currencies?

We started small initially (6 people) and we just wanted to play, experiment and test the capabilities of a coin built by us. Line of code after another, and about 4 months ago, we began to really make some serious progress and word of mouth just went by and brought us to a few businessmen who saw great potential in what we did. They agreed to support initial investments and so The Nanobit Foundation entity was created along with some dandy headquarters.

We had no idea we would get this far. From the initial brainstorming night up until this announcement day With small steps in between, we successfully and surprisingly reached a far better level of completion of this massive project than we ever expected. It's true that we've been in the development stage for 11 months now, but time tends to pass by really fast when you're truly enjoying the things you do.

Nanobit is a one of a kind currency which brings:

  Inbuilt Exchange System
  Messaging System
  Partially Customizable Addresses
  Internal ESCROW System
  Bitcoin transactions
  Trust factor

We took no expense regarding new features because that was really the first thing on our minds when we began writing the code for this project. Later on, step by step we just built the whole system around the word "innovation" and things just started to fit in.

These features sound amazing, please elaborate on them!

Main Wallet Interface



A place for you to buy and sell whatever you want feel or need. We divided the Marketplace into 2 main sections, DIGITAL and PHYSICAL, just so people would know beforehand how much would last until their goods would arrive. By DIGITAL delivery we usually understand a very low waiting time of 1 day, and by PHYSICAL delivery we would expect it to be in the timeframe of a few weeks.


Further more, While certain categories in the Marketplace explain themselves, others don't. For instance, SERVICES, is created to address that area of users which have a certain skill which can be of use to other people willing to pay for it (think fiverr). The ADVANCED area is a bit more exotic, as it addresses people with a more 'unusual' taste for goods or services (think everything illegal), also the access to this area is very restricted and users need to pass certain parameters to access it, more on that later.

You can pay or be paid (buying/selling) either in Bitcoins or in Nanobits.


It works just as a real life Auctionhouse would. The items have a time limit, a starting price and a buyout price. You can pay extra when selling for your item to appear on the frontpage, or even on the TODAY'S DEALS banner. Don't worry you can turn these sponsored deals off in the Settings page. Unlike the Marketplace, the Auctionhouse accepts only Nanobits as currency.


Exchange System

You can buy or sell Nanobits with Bitcoins using our inbuilt platform. The fees are relatively small on buying and a bit higher on selling. The main panel features an interactive price history explorer which ranges from 1 month way back to the first trade. There is also a live transaction ticker and for more experienced traders we put in a Market Depth tab, which is currently populated with testing figures to give you an impression of what is to come when the coin launches officially.


Trust Factor

As users keep trading on the Marketplace and on the Auctionhouse, their successful trades will bring in valuable feedback from the people which bought from them. Users can be pleased (+ trust) or displeased (- trust) with a certain seller. This deviation of + and - will appear on the user's profile (which is seen when he's selling something) -- pic here --  and the accumulation of too many negative feedback will set a WARNING flag on all his items he's currently selling. While in this status, the user is unable to sell any more items, and he will be reviewed by a Random Rating Council which will decide whether his selling privileges will be revoked or not.


Random Rating Council

To differentiate between bad and good users (when talking about the Marketplace and the Auctionhouse specifically) we created the Random Rating Council system. What this council basically does is randomly chooses 5 people based on the online/offline criteria and asks them if they wish to participate in it. They will review the past actions of the targeted user and reach an unanimous decision of limiting his abilities on the Marketplace and on the Auctionhouse (privileges are shared between these 2 trading hubs) or not. And by "USER"we mean a person accessing any of these 2 hubs with an address older than 6 months. Of course you can create as many NAN addresses as you wish and need while sending and receiving coins without limit, but you will not be able to use the Marketplace and the Auctionhouse if your address is younger than 6 months. Also every person participating in this council will receive a small reward in NAN as a gratitude for improving the community.

Internal ESCROW System

We really stressed out on adding and later improving this system, mainly because the people who would use the 2 trading hubs would have some sort of protection against spammers, scammers and ill-intended people. It works as a handshake which releases the promised payment when the payee received the goods (physically or digitally, it doesn't matter, the escrow is inbuilt to work in both cases, it cannot be overrun, i.e.: you cannot instantly pay for something on the Marketplace or the Auctionhouse without the ESCROW)

Messaging System

Send mail to destinations by address, send reports about anything to the developers, trash, restore, flag as spam and copy mails in folders you want. This system also extends itself up to the main wallet which oversees NAN/BTC transactions. Here you can add up to 5 contacts (in later builds this number will be limited to 100) while being able to add various details about them.


Partially Customizable Addresses

Instead of looking the usual way of 27-34 characters (12rfBVWet2ygJ85i95KHE0982t3Z) they can be (12rfBVWet2ygJ85i95KHE0982t3Z-ForLena). You can use them or not, it's up to you, the anonimity remains uncompromised, and the functionality stays the same.

Bitcoin transactions

Deposit, withdraw, send or receive unlimited Bitcoins using the Nanobit Wallet. Note: While doing transactions with Nanobits is un-chargeable (0% fee) doing transactions with Bitcoins is. There is the BTC miner incentive fee, on which every trader must abide in most situations. Nanobit will get it's fees from trading only.

Nanobit Funding Commitee

We have also agreed to hold a funding period through which we will distribute 8.1% of all the coins (810 mil.) Today marks the start of Phase 1.

What We Need & What You GetWe would need as most funding as we possibly can get. $25,000 for instance will do for about 8 months of salary payments, infrastructure and maintenance costs. We're a pretty transparent company, a feature which you can always see here. In return for your interest in Nanobit, you will get (clear list):

 A share of the 810 million coins (in proportion with the amount invested)
 Your name in the Nanobit Wallet (in the 'With the help of') and on the website
 Exclusive access* to be granted only to investors
 Our eternal gratitude, and that of future coins' to fork from Nanobit

*as we move along the development phase, you will be granted access to certain parts of the code, which will usually be the current nanobit version minus the last 5 updates (for security reasons)

This public investment will ensure the future of Nanobit and of currencies which will fork from it, paves the way for perpetual updates which will come with new improvements, features and bug fixes, and will ensure a smooth & complete launch, rather than a launch of an unfinished product which will survive on updates which should have come sooner.

Invest how much you desire, and at the end of each funding phase we will recalculate everyone's coins by dividing the total number coins for that phase to the amount each and everyone invested, after deducting the coins given to people either as gifts, or for their participation in certain community actions. If you wish to invest in a different way, then you can do so by going to the IndieGoGo project by clicking here.


BTC address: 18fgHFjWJdisWk9aYTqso6LWE6x9q9tp4T

If you decided to invest any amount, send us an email at: with the transaction details

List of investors (

Marketing & Advertising

We initially decided to allocate a part of the investor's donated BTC (15%) to sponsor several advertising campaigns, but that idea has been flagged as offensive and inappropriate for an open-source digital currency so we scrapped it. Instead, we decided to rely on users for spreading the word. Thusly, every 3 social posts any user makes, he will be rewarded with 600 NAN. Also, we will give 500 NAN to every user who changes his signature. To find out more about this, click here (


You can view and download hi-res images for marketing & merchants' usage here (

Regarding updates

We will post parts of the code minus the last 5 versions as we move through better updates. What this means is when will finish the v0.6.6 update for instance, we will post parts of the v0.6.1 code for the tech and curious people to analyze.

Things to do:

  Integrate Bitcoin functionality (send BTC, receive BTC, create addresses)
  Improve  the wallet in every way possible
  Complete the Auctionhouses' functionality
  Complete the search function (small priority - currently in conflict with other features)
  Finish the Wallet and import it directly on Android, iOS, MAC, linux (linux further testing need - few errors)
  Finish & Wrap up the coin code, deploy on GitHub
  Deploy final result to 1000 beta testers (10 days prior to release date)
  Online whole system & distribute coins on launch day (date still debatable, depends on work completed)

Wallet functionality

Send/Receive NAN - built, enabled, transactions not possible (sync impossible, genesis block not created/found)
Send/Receive BTC - not built, not enabled
Exchange Platform - built, enabled, transactions not possible (sync impossible, genesis block not created/found)
Marketplace - built, enabled, transactions not possible (sync impossible, genesis block not created/found)
Auctionhouse - built, enabled, transactions not possible (sync impossible, genesis block not created/found)
Message System - Built, enabled, messaging not possible (addresses unable to be created)
Settings - built, partially enabled
Help - built, enabled

Wallet GUID: 8246700c-6d98-407f-a6f3-5db7d60fe91b

This is just a taste of what is to come, and we feel that the current functionality of this wallet will give you an idea of a future (and ultimately more stable) build of v1.0


Our Main Website (
Fund on IndieGoGo (
Whitepaper (
Wallet Download (
Nanobit Changelogs (
Website Changelogs (
GitHub (  - for future source code dumping, and your forking needs
Google + (
Facebook - The Nanobit Foundation (
                Angela Imenoriad ( - Public Relations, Official Representative
                Joss (Vincent Gehlen) (
Twitter  - Angela Imenoriad (
           - Jones Hilder (
           - DEV (removed, developer news/changes will be on Public Relations' behalf)
           - Vincent Gehlen (removed, developer news/changes will be on Public Relations' behalf)
           - Mina Grether (removed, developer news/changes will be on Public Relations' behalf)
#nanobit (
/r/nanobit (

Concerns, questions:
Submit a bug, suggest a feature/improvement:
Website issues:
Work with us:
Book a tour of our Headquarters*:
Official Business only:

*depending on our free time and already booked tours

We await your valuable feedback upon this project, and we're looking forward to your suggestions for further improvements of this currency. Remember we're here to answer any questions you might have.

Thanks to the people who contributed so far:
Source Code: DEV (Hildebrand Lechleitner), Joss (Vincent Gehlen), Helmuth Heinkel, MeenGi (Mina Grether), Yasuoka Mano, Hans-Jorg Lindemuth. With special thanks to (in no special order): Austen Ridley, Gussie J. Hamm, Kris Tran, Jones Hilder, Feoder Yagunovich, Mariana Rutanahce, Uland Shortz, Grace Valdes, Eliseo Svaltenberg, Giancarlo Fountaine, Alijah Keach, Vedernikov Miloslav Ivanovich, Nathanael Tonkinson, Klasha (Klara Antonovna), Brennan Perrett, Adelina Gastone, Margareta Mauritz, Tomoko Haycuda, Jaromir Tarasovich, Wanita Buchanan, Sisto Panariello, Fredrick Slough, Kholod Svetlana, Ichiro Okuma, Ray Wisbey, Seiji Okamoto, Enrico M. Consigli, Elena Yurievna, "Carissima", "Lena-02"
Wallet GUI: Ichiro Okuma, Joss (Vincent Gehlen), Giancarlo Fountaine
Accountants: Jevon Attebury, Kaitlynn Mantell
Webdesign & Official Representative: Angela Imenoriad
Public Relations: Joanna Amarsand, Angela Imenoriad
Marketing: Enrico M. Consigli, Vedernikov Miloslav Ivanovich
Testers: Eulio Amatu, Sandra Jameson, Johnny Capshaw, Roger Siddell, Darien Burham, Mustafa Lathrop
The Nanobit Foundation owners: ********** *****, ***** ********* (anonymous per request)

Made with the amazing help of The Nanobit Foundation® (