EDIT: Alright my friends I'm off to sleep now. But if someone decides to download NavPay and post the wallet I might still send him some NAVs tomorrow evening 😛
I am a fan of NAV and I would like anyone of you to take a look at NAV Coin and what better way is there to do this with a giveaway so everyone can see for themselves how fast and easy NAV Coin is.
Additionally to the giveaway I want to give the interested ones of you some more infos & teasers about NAV and what I think makes it unique and valuable.
- Of course like always: This is no financial advice and DYOR.
First the info about the giveaway so that the people who are only here for the free money don't have to scroll down a wall of text… I won't judge you – you do you! 😛
But maybe some of you guys will come back later to read more about NAV after you see how nice the mobile wallet of NAV is.
To get some free NAVs, all you have to do is the following:
- Download the app NavPay from the Android Play Store
- Follow the steps to set up your mobile wallet
- Backup your private key (the random words) so you could restore your wallet if you phone breaks or sth. like that!
- Post your public address as a comment in this thread, so I can send you some NAVs
If you liked the experience, I'd be happy to hear back from you
In the next 2 hours, I'll be giving away NAVs worth about $200 in total (but split up of course, so that everyone will get some to try out the mobile wallet NavPay etc.).
Some additional links:
- Web Wallet of NavPay (use this web wallet on any iOS device until the app is approved by Apple)
- Android Wallet NavPay
Thats all for the giveaway, now follows the additional infos.
2. Additional Infos about NAV
Nav Coin has been publicly traded since mid 2014. It's a decentralized cryptocurrency which is built on the latest version of Bitcoin Core with many additional features and functionalities which differentiate Nav from other cryptocurrencies. I'm going to dive into the details of these features later on in this post.
The aim of Nav Coin is to simplify cryptocurrencies. In my opinion, this (the mainstream-adoption) is one of the most important topics for all cryptocurrencies in general. Nav is directly adressing this issue by providing very easy to use tools (wallet, mobile wallet, etc.).
2.2 Facts & Figures
- Funding: Compared to other cryptocurrencies, Nav Coin did not have an ICO or a premine. It is self-funded but soon a Community Fund will help with additional resources
- Market cap: ~72.4kk
- Circulating supply: ~62.7kk
- Consensus Algorithm: Proof of Stake (5%, soon reduced to 4% due to community fund)
- Max supply: max. 5% (soon 4%) (realistically about 2-3% since not all coins are staking)
- Currently trading for: 1.15 USD | 14'230 sats
- Binance [ETH | BTC | BNB]
- Bittrex [BTC]
- Poloniex [BTC]
- Upbit [BTC]
- LiteBit.eu [EUR]
- Cryptopia [USDT | BTC]
The team was recently expanded and consists now of the following people.
More infos and links to linked in about the core team is found on the first page of the official NAV website (just scroll down a bit).
2.3.1 Core developer contributors
- Craig MacGregor: The main developer and sponsor of the NAV Core team
- Alex V: Core developer
- Paul Sanderson: Core developer
- Matt Paul: Core developer
- Mike Delucchi: Core developer
- Rowan Savage: Core developer
2.3.2 Core content contributors
- Kieren Hyland: Digital content creator
- Laura Harris: Digital content creator
- Josh Drummond: Digital content creator
- Mark Sloane: Digital content creator
- Guy Sinclair: Digital content creator
- John Darby: Digital content creator
- Carter Xiao: Designer
2.3.3 Community developers
Since NAV is open source and the core team is encouraging the community to contribute to NAV, there are many more people working on NAV like sakdeniz who is creating a second desktop wallet, slothmike who is working on a reddit tipbot or Prodpeak who is developing an alternative block explorer.
2.3.4 Weekly updates
The core team is releasing weekly updates about the ongoing projects on their website so that anyone interested can see the current status of the roadmap items.
2.4 Main Features
2.4.1 Optional Private Payments
With Nav Coin you have the ability to send private payments. The privacy is optional so you can choose to send non-private or private payments.
Nav Coin uses a different approach to achieving privacy than other coins. Nav uses the so called NavTech. NavTech is a dual blockchain system. Essentially, the transaction information is encrypted, split in smaller transactions and sent through a second blockchain, which completely breaks any links between the sending and the receiving address. If you're interested in this technology, you can find the whitepaper on the official NAV website.
At the moment, private payments are processed by trusted servers. Everyone can operate a server themselves or can use the existing ones. The team is working on NavTech 2.0 'Rimu' which will make these servers obsolete, since every wallet will act as a private payment processor which will further push the decentralization.
2.4.2 Proof of Stake
Nav Coin uses the consensus model Proof of Stake which lets holders of Nav Coins earn a reward of 5% in interest of the coin they stake. Staking coins is very simple, you just have to have the wallet open and running.
5% rewards also mean, that there is an inflation of maximum 5% per year. But it is actually lower (at around 2-3%) since not all coins are staking. So if you are staking, you will earn more than the yearly inflation.
Here is a very detailed article about how Nav Coins Proof of Stake works.
2.4.3 Fast transaction times
Nav Coin has a really fast block speed. Transactions are confirmed as spendable withing only 30 seconds which makes it ideal for retail and e-commerce which in my opinion is one of the main points in real-life adoption. There was a video posted recently on the official twitter account which shows how NAV was used to purchase groceries in a store in Rome… That's real-life adoption!
Like mentioned above, Nav Coin uses a Proof of Stake consensus model.
Most of us have read about the immense energy consumption of Bitcoins Proof of Work model. In my opinion, this is not feasible for the future.
With the PoS model of Nav Coin, you can stake your coins on a Raspberry Pi which uses only about 18kWh of power annually if run 24/7! This is much more environment friendly!
Nav Coin even sells their own preconfigured and ready to use NavPi Stakeboxes. Since they're out of stock very fast every time, you can create your own NavPi by following the step-by-step tutorial of the community member /u/navtechservers
2.4.5 Community Fund
Since Nav Coin did not have an ICO or premine, they're fully self financed at the moment.
The community has voted for a community fund which will propel the development and marketing of NAV greatly.
When the community fund is implemented, the PoS reward will be reduced from 5% to 4% per year. Each block will generate 0.25 Nav which will be allocated for the community fund (about 21'600 Nav per month).
Both the Nav Coin Core team and the community will be able to propose projects and budgets which the community (the stakers) will vote for. The payouts happen when everyone votes that the work is completed. The aim of this is to fund the development and ongoing success of NAV. You can read more about it here.
NavPay is NAVs mobile wallet. It's one of the first mobile wallets that allows private payments. There are already real world merchants accepting Nav thanks to the NavPay app like Pasticceria Piemontese in rome and you can even pay for a cardiologic examination using Nav.
NavPay has a very simple and beautiful user interface. Download it for this giveaway and take a look yourself!
Using a combination of lightning network transactions and exchange integrations, NavChange will be a Valence-powered application which facilitates instant exchange between NAV and other currencies
NavChange is a feature which is planned to be launched in 2018.
Here is an example of how it is possible to send Bitcoin anonymously with Nav Coins NavChange.
For the traders: NavChange will greatly increase the volume for Nav.
2.4.8 Valence Plattform (Anonymous Distributed Apps)
At the moment, Nav Coin is "just" a currency. But this is going to change in 2018.
The team is in the latest phase of finishing the whitepaper of the Valence Platform which will enable the development of Anonymous Distributed Apps Platform (aDapps) (think of Ethereum's smart contracts, but with privacy!). Valence is a platform that gives developers and businesses a new set of tools to help them realize their ideas on the blockchain.
The whitepaper is probably coming in the next 1-2 weeks!
There are some people who will say that NAV tries to do too many things. I don't agree with these guys. I think this is the main point that speaks for NAV. NANO might be faster (even tho NAV is almost instant as well), XMR might have better privacy (used by Monero fans but never really proven), ETH might have a more accepted dApps platform (we'll see what the whitepaper brings)… but who combines all of these features in one project?
NAV is a jack of all trades.
Thanks for reading this far and now post your NAV public address so I can send you some NAVs! 😀