Cryptocurrencies’ dark horse to swap for a thoroughbred

Sophia LockhartNav Coin Updates0 Comments

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NAV coin, which holds the auspicious title of the world’s first fully anonymous cryptocurrency, announced a coin swap that comes with a list of game changing improvements for the coin. The news has lead to an ongoing price surge.

NAV’s coin swap to set off a chain of game changing improvements

“The goal of the NAV coin swap is to improve the performance of NAV for it’s investors and give us the code base to launch NAV into a strong future. Our future will be development heavy; we pride NAV on being a tech strong coin and we like keep on the cutting edge of altcion technology – after all we are nerds.”

-NAV Development Team

Updates for the new NAV coin wallet

The freshly skinned NAV wallet in trademark colors blue and purple is not just a pretty face.

The New NAV wallet includes:

  • the capability to connect to Bittrex with API keys to trade NAV directly from within the wallet.
  • encrypted private messaging from wallet to wallet.
  • the ability to look up transactions from directly within the wallet.
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Screen shot of the new Nav Coin wallet

The direct connection with bittrex surely looks pretty smooth. You can see the current market orders, place and cancel orders as well as see your trade history.

Top on the list is

BIP0032 – Hierarchical deterministic wallets

Bip 32 is considered one of the key updates in moving crypto currencies forward into a modern user-friendly place. It is the capability to generate wallet addressed from a single private seed, which allows the user to regenerate key pairs from the seed if the wallet is lost. Thus backup frequency is reduced. This wallet generation method is compliant with web & mobile wallet standards.

The NAV team has indicated that a mobile and web wallet build is high on their list of priorities. This would be a massive advancement for a small coin like NAV.

Full Automatic TOR implementation

The wallet can now be used in conjunction with the TOR network which uses Onion Routing to mask the IP of users on the network. This will give the privacy and personal freedom of NAV’s anonymous transactions a new whole new level

BIP0038 – Passphrase-protected Private Key

Capability to encrypt and encode a passphrase protected private key. Typically intended for use on paper wallets and physical coins. Users will now be able to store their coins offline in secure cold storage.

BIP0100 – Floating block size hard limit

Maximum block size is increased to 20MB with the maximum size for mined blocks set to 10MB. Block size is dynamic and changes in response to the volume of transactions. This future proofs the coin to be capable of handling all perceived future transaction volumes.

A full list of updates and future projects can be found at navcoin.org/upgrade#new-features

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djselery’s reaction to the update on bitcointalk.org

Reception

NAV Coin Development Team announced their coin swap on the 14th of April on the NAV bitcointalk.org forum. Instantly causing a stir amongst altcoin investors. The price has since more than doubled as has the trading volume. If the market statistics from the last time NAV introduced major improvements, we can expect large upward trend over the coming weeks.

“We’re very happy to giving back to our investors and NAV traders, “ says NAV Coin developer Craig MacGregor.

The team has has proved dedicated to getting all users onto the new block chain. Now that the official coin swap on Bittrex has successfully completed, they have offered an on going manual swap and urge any investors who missed the swap to use this service.

For more information on how to swap you coins, visit the website:
navcoin.org/upgrade

All coins are swapped at a value of 1:1 and there are the same total number of NAV on the new and old block chains so they retain the same value.

The team have also expressed to the forum their intention to follow up the coin swap improvements with software downloads for a raspberry pi staking unit, as well as what will be the worlds first fully anonymous mobile wallet (from the bip32). This extra layer of improvements is being dubbed by the community as ‘NAV 2.1’

You can become NAV Coin investor by trading NAV on one of these exchanges:

Bittrex:
bittrex.com/Market/Index?MarketName=BTC-NAV

Poloniex:
poloniex.com/exchange#btc_nav

Alcurex:
alcurex.com/#NAV-BTC

Cryptopia:
cryptopia.co.nz/Exchange/?market=NAV_BTC

You can see more details about NAV Coin and it’s upcoming updates on:
navcoin.org

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