The live Navcoin price today is $0.084750 USD with a 24-hour trading volume of $20,982.08 USD. We update our NAV to USD price in real-time. Navcoin is down 10.82% in the last 24 hours. The current CoinMarketCap ranking is #924, with a live market cap of $6,426,206 USD. It has a circulating supply of 75,825,506 NAV coins and the max. supply is not available.
If you would like to know where to buy Navcoin at the current rate, the top cryptocurrency exchanges for trading in Navcoin stock are currently PancakeSwap (V2), Bittrex, and BITEXLIVE. You can find others listed on our crypto exchanges page.
Navcoin, launched in 2014, is an open-sourced digital currency offering fast and reliable payments with innovative technological and privacy features. Storing coins on a Navcoin wallet allows for making public or private transactions, earning rewards through staking (for network validation) or mixing coins (for privacy enhancement), and having a vote in project proposals.\\Unique to Navcoin's cryptosystem is that public NAV coins can be converted 1:1 to xNAV, the revolutionary privacy coin that guarantees untraceable transactions. Additionally, Navcoin has launched wNAV, a wrapped representation of NAV, that can be used in ecosystems such as Ethereum and Binance Smart Chain (BSC).
Navcoin was launched without pre-mining or an ICO to achieve a fair and transparent initial distribution of the supply. The project operates as a fully Decentralized Autonomous Organization (DAO), without a central decision making authority (unlike most other projects). Anyone can participate by simply staking NAV in their wallet, thereby obtaining a say in protocol governance and a vote on proposals that arise from within the community.
Navcoin's philosophy is to provide people with privacy preserving solutions that allow them to express themselves financially and transact as they desire. This has resulted in the development of xNAV, a privacy coin based on the decentralized, trustless, and permissionless technologies of the future.
First of all, xNAV is built on top of the self-developed privacy protocol blsCT that merges Boneh-Lynn-Shacham (BLS) Signatures and Confidential Transactions (CT). BLS compresses a group of signatures into a single compact signature that authenticates the entire group, thereby shielding the origin of individual transactions. CT is a well-established privacy protocol that obfuscates the amount of coins in a transaction.
When using blsCT, two xNAV transactions can be merged into one, and transactions can be aggregated an infinite number of times. This allows Navcoin to scale effectively and support a high quantity of transactions across the network and users' transactions are completely shielded and untraceable. Anyone trying to monitor transactions being made through Navcoin's network is unable to tell if a transaction has been aggregated or not, and users are able to merge their coins with other individuals making transactions. When doing so, a user's wallet uses Dandelion++ to send an anonymous request for coins from other nodes. These nodes can then connect and communicate between them using public-key cryptography to broadcast the session and their coins to mix. From those, the sender can randomly select several coins from the responses received. These coins are in turn mixed together with the original user's coins, and then sent to the network, and this system ensures true privacy while also enabling anyone who helps to facilitate the mixing-process by providing liquidity to receive a fee for their service, and generate a passive income.
Navcoin's network is secured by a Proof of Stake (PoS) consensus mechanism, which means that anyone can use their NAV to help validate transaction blocks. By comparison, Bitcoin's Proof of Work (PoW) consensus mechanism requires miners to calculate huge mathematical problems to process transactions and earn rewards. This requires expensive hardware and is extremely energy intensive. Navcoin's PoS consensus mechanism does away with these resource intensive requirements; even a 5 Volt Raspberry Pi can take part in securing the network.
Navcoin's users can earn passive income in two distinct ways. First of all, users can help secure the network by staking NAV to validate transactions. With block times of 30 seconds, the block reward is 2.5 NAV. Of each reward, 2 NAV are for the staker, and 0.5 NAV are held in a decentralized treasury, the Community Fund, used for self-funded community initiatives.
Users can also mutually merge their xNAV coins over various nodes to facilitate the mixing process that ensures xNAV's privacy and anonymity. Users are rewarded a fair compensation fee in return for this service.
In addition to helping to secure the network, Navcoin's PoS consensus mechanism enables all public NAV holders to get involved with governing their platform. There is no central authority controlling Navcoin, and community members play a crucial role in maintaining a fair and decentralized system of decision making. As a result, Navcoin operates as a Decentralized Autonomous Organization (DAO) with all protocol administration and consensus changes being subject to an open voting system. All community members holding their NAV on the public side can participate in the DAO by staking their coins, and each stake is the equivalent of one vote. This gives each wallet holder a say in protocol governance, and allows them to vote on any proposals that arise. To ensure widespread participation, there is also no minimum staking amount required for anyone to take part in voting.
*Source: Bloomberg. List of Cryptocurrency funds within global Exchange. Traded Fund universe which includes various exchange traded products including exchange traded funds (ETFs). exchange traded notes (ETNs). and exchange traded commodities funds (ETCs). Based on assets as of 12/31/22 in USD $mm and average daily dollar volume since BITO's inception. 10/18/21. BITO invests in bitcoin futures and does not invest directly in bitcoin.
In this complete NavCoin review, we will take a deep-dive on the coin by analyzing their technology, team members and broader ecosystem. We will also take a look at the NAV token use cases and long term potential for general adoption.
NavCoin makes it possible for those staking coins to earn 5% interest, but one requirement is that you run a staking node on the network. This is accomplished by downloading and running the NavCoin core client and setting an amount of NAV you want to stake. It is also possible to purchase a Raspberry Pi and set it to run a staking node. This client is called NavPi and it is an elegant solution to staking and running a node. It is also far more energy efficient and it is always on.
The team behind NavCoin has been incorporated as Encrypt S Ltd and the project is an open-source project that anyone can contribute to. Because of this there is a fairly large and active team behind Navcoin.
NavCoin has made itself one of the most easily understood coins, with one of the most beautiful interfaces. This is all thanks to the marketing and creative team, who excel at communication, style and branding. One element many projects have missed is usability, but NavCoin has taken that element very seriously, putting them far ahead of many other coins in terms of usability.
Somehow they remain a little known privacy coin, with others like Monero and Dash easily outpacing them in terms of adoption and market cap. That could mean there is a lot of value to be found with this project, and that at some time they will catch up to their peers as they continue to improve on privacy techniques and developments on their blockchain.
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