Navcoin is the first cryptocurrency that is completely anonymous. There are many partially anonymous coins, NAV coin differs in that its encryption software completely disconnects and scatters transaction data, removing it even from the IP address. The anonymous system is built on Bitcoin blockchain technology and uses a subchain to process anonymous transactions.
The cryptocurrency launched in July 2014 has changed its name several times: first, it was Summercoin, which appeared as a fork of Bitcoin, then Navajocoin, Navajo Coin and finally Navcoin.
In spring 2017, Navcoin cryptocurrency developers confirmed their intention to start the process of activating Segregated Witness (SegWit), a solution aimed at scaling blockchain networks.
At the beginning of 2021, developers upgraded the platform to the new Navcoin Core 6.0. With it, they released their new blsCT privacy protocol and a new private token in the Navcoin blockchain that uses a unique prunable node system.
Navcoin operates on two simple principles: usability and privacy. To achieve this, they built the currency on the widely used Bitcoin core.
This provides the coin with all the features and benefits of this core, and the development team has gone one step further by adding important additional features that make this digital currency even better.
The main distinguishing feature is a security system that uses Proof of Stake algorithms. This means that the platform does not require expensive hardware to maintain and transactions can be completed faster.
SegWit And Navcoin
SegWit protocols improve Navcoin’s operations in the following ways:
- They optimize the complex process of verifying transactions as much as possible. In this case, they contain for a while the scripts under which the transfer was made and possible transaction signatures.
- They create a new algorithm for checking the validity of signatures during transfers and also counteract the over-abundance of information during hashing.
- The protocols significantly optimize the flow and distribution of financial transactions and the numerous blocks in the Segregated Witness structure.
- The protocols promptly create new changes for the quality of the system.
As the news of SegWit implementation cheered up market participants, they started investing more in this cryptocurrency and the NAV token price started rising.
How To Mine Navcoin?
SP Navcoin is a wallet feature that allows users to earn Navcoin simply by leaving their wallet in mining mode. There is no need to invest in ASIC hardware.
Navcoin offers a client solution for the Raspberry Pi minicomputer, called NavPi. This allows you to use Navcoin Core, on a device with low power consumption.
NAV cryptocurrency has a great number of advantages, including:
- Anonymity. All transactions are encrypted and go through a secondary subchain, making it impossible to track the transaction participants.
- Speed. The current throughput is over 260 transactions per second, with payments processed in 30 seconds.
- Ease of use. Proof of Stake wallet has a simple interface and does not require huge servers to function.
Is NAV Coin A Good Investment?
Navcoin developers do their best to make their project better for their community members. In 2021, they’ve already released a new private protocol, and tokens (xNAV and wNAW). Moreover, they are going to release the MCL Library Integration and launch their new tokens on the most trusted blockchains.
All these factors make the NAV coin graph rise even though its price had been on the same level since the middle of 2018.
Today NAV token price is 0.0716 USD.
You can use multiple Navсoin wallets: NavCash light wallet, Navcoin Core wallet, and a modern and stylish NEXT wallet . NavCash light wallet supports Ledger and Cold Staking. Navcoin Core wallet allows users to take part in network staking. All solutions are free and available for all OS.
NAV coin is a feature-rich alternative to many other platforms, with a focus on future development, better security and superior usability and functionality.