The price of Nano (NANO), a trustless, low-latency cryptocurrency that utilizes a block lattice architecture, is up 40% over the last 24 hours after the project announced the release of version 16.0 of its node software.

According to the announcement, the new release primarily focuses on cleaning up the code from the prior release. Nano specifically mentions that it has improved on the¬†Vote by Hash feature, which shifts¬†representatives’ votes to¬†only include the block hash and not the full block. This works to reduce the bytes per signature from¬†256 bytes + 64 bytes for full block voting to¬†32 bytes + 64 bytes for hash voting.

Nano’s price action has been notable over the past month, with significant price swings that saw the coin jump from under a $1.00 to $3.50 before crashing back down to $1.60. The initial jump in price was fueled by¬†a¬†recent network test¬†that had the Nano blockchain sustaining around 75 transactions per second (TPS) over a thirty minute period, with a peak as high¬†as 756 TPS.

NANO is currently trading for $2.37, giving the coin a $318 million market cap. The altcoin is ranked 26th in the AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens.

More: Nano Node Version 16.0 Released
Related: Nano Is Up 40% in the Past Week With Room to Run

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.