- Lawsuit trying to force a hard fork found to have no merit
- Nano Foundation still supporting victims’ suit against Bitgrail
- Current developer focus is on making the network more lightweight and scalable
The Nano Foundation announced Monday that a lawsuit against the foundation over the Bitgrail hack has been withdrawn, with the court determining that the case lacked any merit.
Bitgrail Victim Lashing Out
Few in the crypto space can have missed the drama surrounding the Bitgrail hack, where 17 million Nano (NANO) were lost due to hackers exploiting vulnerabilities in the Italian exchange.
After the hack Francesco Firano, the owner of Bitgrail, pleaded in secret with Nano developers to hard fork the currency and roll back transactions to ‘make him whole’ again. The Nano devs refused, and instead contacted the authorities.
In the long and tragic meltdown that followed many users lost their funds as Bitgrail went under (and had a lawsuit brought against it).
One victim by the name of Alex Brola decided to sue the Nano Foundation to try to force a hard fork of the currency – just as Firano had asked for, which would allow Nano holders on the exchange to have their holdings restored.
That suit, the Nano Foundation announced yesterday, has now been withdrawn due to lack of merit. While Nano holders were victims of the Bitgrail disaster, the Nano Foundation was not responsible for what happened.
Nor would it have been such a simple thing to ‘roll back’ transactions, as Nano does not use a normal Blockchain architecture but a block lattice, and there is no block height to roll back.
And of course, Nano being a decentralized currency, the Foundation could not have forced the community to accept the new fork even if they had been made to create one.
Version 16.1 released
In the same announcement, the Foundation went on to talk about the ongoing development of the project. While Nano is a ‘pure’ currency coin, that does not mean that it does not see much development. All the work is just focused on making Nano the best currency possible, instead of being spread out over many different parts of an aspiring ecosystem.
Latest out is a new Voting by Hash mechanism, which has greatly reduced CPU and bandwidth usage for nodes. The next priority – ‘Lazy Bootstrapping’, is set to do the same by changing how acceptance of transactions is voted on and propagates through the network.
Nano was always fast, but it is now in the process of also becoming extremely lightweight. While adoption for crypto is happening more slowly than many would like, Nano is among the more popular currencies being used as, well, a currency. And it’s not hard to see why.
