I have a battery powered nano connected to a LoRa, a gps module, a bmp388 and an axl345 accoloremeter. Arduino nano can at most supply 500mA which i suppose isnt enough for all this?
The solution i had in mind was connecting the some of the components' vcc and gnd pins to batteries through a voltage regulator and connecting only the data pins to the nano
would that fry the board? What should i do to prevent reverse current or overheating i am not really experienced, open for any suggestions.
If all the devices operate at 5 volts, then what you are suggesting is really the proper way to power and connect the devices together. All of the devices must have their ground connections all connected to the Arduino ground connection or they will not be able to talk to your Nano.