Navcoin (NAV) is a privacy-focused, open-source cryptocurrency that enables both public and private transactions. More
| Fully Diluted Valuation | $3.79M |
|---|---|
| 24H Trading Volume | $11,983 |
| 24H Low / High | $0.05 / $ 0.05 |
| Circulating Supply | 77.08M |
| Total Supply | 77.08M |
| Max Supply | ∞ |
| Categories | Privacy 3 more |
|---|---|
| Founder | Craig MacGregor |
| Website | nav.io |
| Socials | 6 more |
| Chains | Binance-smart-chain Ecosystem |
| Explorer | Binplorer 5 more |
| Contracts |
0xbfe....a9f3d
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| Name | Pair | OG Score |
|---|
Navcoin (NAV) is a cryptocurrency that started in 2014, created by Craig MacGregor. It is open-source and uses a Proof of Stake (PoS) system, which means users can help validate transactions and earn rewards by staking their coins.
Privacy Features
Navcoin focuses on privacy with its xNAV coin, which uses advanced technology to keep transactions private. It combines several methods to hide transaction details, including the Boneh-Lynn-Shacham Confidential Transaction (blsCT) protocol, Stealth Addresses, and the Dandelion++ protocol. This ensures that transaction amounts and origins are concealed.
Services
Navcoin provides several key services:
NavExplorer: Allows users to view real-time blockchain data.
NavPool: A staking pool where users can earn rewards and take part in network decisions.
NavBridge: Facilitates swapping NAV for other cryptocurrencies like Ethereum and Binance Smart Chain (BSC).
NavAlias: Speeds up token transfers.
The project also offers wNAV, a wrapped version of NAV for use in decentralized applications (DApps).
Network Security and Staking
Navcoin uses a PoS mechanism, which is less energy-intensive than Bitcoin’s Proof of Work (PoW). Even low-power devices can help secure the network. Users earn rewards by staking NAV, with part of the rewards going to the Community Fund for network improvements.
Governance
Navcoin operates as a Decentralized Autonomous Organization (DAO). This means that NAV holders can vote on decisions and changes to the network. Staking NAV gives users a voice in how the platform is run, promoting community involvement and transparency.
Conclusion
Navcoin combines privacy technology with a community-driven approach to cryptocurrency. With its focus on privacy, staking rewards, and decentralized governance, Navcoin offers a unique and efficient way for users to engage in digital currency transactions.
Navcoin (NAV) stands out for its advanced privacy features, including the xNAV privacy coin, which uses the Boneh-Lynn-Shacham Confidential Transaction (blsCT) protocol and Dandelion++ to ensure untraceable transactions. Its integration with services like NavPool and NavBridge enhances its functionality across various blockchains.
Navcoin was founded in 2014 by Craig MacGregor, a blockchain engineer who also founded Taxoshi. The project is developed by a global team of contributors.
Navcoin was launched without pre-mining or an ICO, and does not have traditional backers or investors. Instead, it relies on community involvement and decentralized funding through its Community Fund.
Navcoin ensures network security through its Proof of Stake (PoS) consensus mechanism, allowing users to validate transactions and earn rewards while reducing energy consumption compared to traditional Proof of Work systems.
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