NavCoin (NAV) is a digital programmable coin that was launched on June 2nd 2014. It is an open source protocol that gives users the ability to access and use code without restrictions. The coin is based on Bitcoin 0.13, hence features most of Bitcoin's components with some improvements.
NavCoin boasts of a dual blockchain that makes its transactions faster than those of Bitcoin. While Bitcoin transactions take an average of 10 minutes, NavCoin network takes just 30 seconds. Its use ofShow more [+] oof-of-Stake consensus means that it has no need of specialized mining machines and thus low energy consumption. It also significantly lowers the cost of transactions in the web3 economy. The cost of a transaction is estimated to be 0.0001 NAV.
NavCoin is a special crypto aiming at simplifying the use of the blockchain technology. Its developers want to create a platform where anyone irrespective of their crypto knowledge can use digital money for everyday transactions. It is also a privacy network ensuring that users remain unidentified thanks to its use of the RCA (2048 bit length keys) that are very difficult to break and a subchain process. It in addition incorporates SegWit, making it flexible for further developments in the future.
Navcoin comes with its own unique wallets classified as 'full' and 'light' wallets. Here's a list of wallets currently available:
NavCoin Core - A full wallet that allows network staking
NavPay - A light wallet with simple features and uses less gigabyte space
Next - A full wallet that is stylish, allows staking and has a simple interface
Coinomi - A multi-wallet that supports Bitcoin and other cryptos in addition to NavCoin.
NavCoin M8 - This is a staking wallet that is highly powered and provides users with DIY options
NavPi StakeBox - A full wallet that uses Raspberry-Pi platform and is low energy
NavPaper - A wallet able to generate keys that are stored offline for security purposes
Navcoin is also available in a variety of exchanges key among them being Bittrex and Poloniex.
The network is run and supported by a decentralized community. It relies on Proof-of-Stake consensus algorithm making it lightweight and thus no need for huge servers. The algorithm stakes about 5% annually. In order to stake, you simply need NavCoin Core wallet then transfer your NAV coins to the wallet.