Distribution and Units¶
There are three important aspects of divisibility of the supply which are satisfied by the final distributed amount:
- The supply needs to be able to be divided up amongst a large number of users with users possibly wanting several accounts.
- Each account needs to be able to represent an adequate dynamic range of value.
- The supply should be able to deal with deflation over time as accounts are abandoned.
The distribution of Nano (formerly RaiBlocks) was performed through solving manual captchas starting in late 2015 and ending in October 2017. Distribution stopped after ~39% of the Genesis amount was distributed and the rest of the supply was burnt.1
During distribution the Genesis seed was kept in cold storage and funds were moved to the Landing account once per week to minimize the number of live, undistributed blocks. These were subsequently moved into the Faucet account for distribution until the faucet was closed and remaining funds sent to the Burn account.
With 2^128 - 1 Nano in the original Genesis account, upon closing of the faucet and burning of the remaining funds, the total supply which is 100% in circulation ended at ~133,248,297 Nano (or more precisely 133248297920938463463374607431768211455 raw). Since then, additional funds have been sent to the known burn address slightly lowering the amount in circulation as a result. This amount can be found using the available_supply RPC.
A 128 bit integer is used to represent account balances. A set of SI prefixes was used to make the numbers more accessible and avoid confusion. The reference wallet uses Mnano (or NANO/Nano) as a divider.
1 raw is the smallest possible division and NANO/Nano (Mnano) is the current standard division used in most wallets, on exchanges, etc.