NavCoin (NAV) was created in 2014 and was built on the Bitcoin Core code, although with several changes made by the developers. One such change was the addition of a subchain to the main blockchain. This subchain was named NavTech, and it allows mixing and anonymizing transactions on the NavCoin blockchain. Like many others, NavCoin also set aside the PoW algorithm used in Bitcoin, and instead uses the PoS algorithm. The developers made NavCoin much faster and cheaper compared to Bitcoin. It continues to move at its own pace, and over the past years the cryptocurrency has received a lot of new functionality, improvements and codebase updates.
From the very beginning, NavCoin considered fast transactions one of its strengths. Compared to the 10-minute intervals for Bitcoin, NavCoin has block confirmation every 30 seconds. This is even faster than the 2-minute confirmations of Monero and the 2.5-minute confirmations of ZCash. It is also faster than the 2.5-minute confirmations of Dash, but Dash handles this with its masternodes, which allow instant transactions. Nevertheless, NavCoin is the fastest of all the coins that are focused on privacy.
NavCoin has a base transaction fee of only 0.0001 NAV. Private encrypted transactions will cost more, but they are not mandatory.
Scalability has always been important to the NavCoin team, and the NavCoin developers have demonstrated their commitment to this from the very first days. In addition, the community approved and activated SegWit to reduce block sizes. In the future, NavCoin plans to implement something equivalent to the Lightning Network, which will take some transactions off the chain and provide instant settlement.
The NavCoin token has been considered an anonymous cryptocurrency from the very first days. The privacy and traceability added to NavCoin is an important feature of any currency. A currency with these features becomes more functional, since its history cannot be traced, which makes each NAV token as valuable as a fiat currency whose history likewise cannot be traced.
Although anonymous transactions are possible with NavCoin, they are not mandatory and are not even enabled by default. To use anonymous transactions, users must forcibly enable this feature, when enabled an anonymous transaction is no longer linked to the sending wallet or the sending IP address on the blockchain.
Anonymous transactions became possible thanks to the addition of the NavTech subchain. They are sent through encrypted transactions into the NavTech subchain, which includes several levels of encryption and mixing of transactions. And after the transaction is fully anonymized, the payment is sent to the recipient from a pool of tokens managed by the NavTech subchain. Ultimately the recipient receives not the tokens that were originally sent.
This combination of mixing, multi-level encryption and a pool of managed tokens ensures the privacy and anonymity of NavCoin. This guarantees that transactions cannot be traced to their destination if the sender so wishes. In turn, the NavTech team continues to study additional privacy measures to guarantee that NavCoin remains one of the best anonymous cryptocurrencies in the world.
The price of the NavCoin (NAV) cryptocurrency today, as well as the technical analysis of the NavCoin NAV cryptocurrency, where to buy NavCoin NAV and where to sell NavCoin NAV.
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