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Navcoin (NAV) is an open-sourced digital currency with privacy-enhanced features. Transactions that occur on the blockchain of Navcoin are made in a peer-to-peer fashion with no need for intermediaries. Following the release of Navcoin Core 6.0, it’s possible to store and transact coins both publicly (NAV) and privately (xNAV). When making a private transaction, it will not be possible to link the transaction to its sender or receiver, or even view the amount that was sent. This is made possible by Navcoin’s self-developed privacy protocol called Boneh-Lynn-Shacham Confidential Transactions (blsCT).
Navcoin was invented in 2014 and had no pre-mine or ICO. With block times of 30 seconds, one can stake their coins to earn rewards through Proof of Stake Version 3 (PoSv3) for helping to secure the network. Navcoin’s current spendable supply is 69M NAV with a block reward of 2.5 NAV, hence a decreasing inflation model. From the 2.5 NAV, 2 NAV are redirected to the staker who found the block, and 0.5 NAV are accumulated in a decentralized treasury used to fund community initiatives based on the outcome of DAO votings. Navcoin’s decentralized autonomous organization (DAO) enables the community to be self-funded through its treasury, self-guided through consultations, and self-governed through consensus changes.
