The Nav Coin Foundation, the anon-system test team, and Nav Coin’s highly supportive community are proud to announce the release of the newly upgraded network. Dubbed ‘Navtech,’ the network boasts a dual-blockchain powered, anonymizing, value transfer system.
The Nav Coin team has spent the last two months putting the final touches on the new anonymous system. This is big news not just for Nav Coin enthusiasts, but online communities as a whole that are interested in anonymity, blockchain tech, and value transfer solutions.
Today’s launch was a critical piece of the puzzle for Nav Coin in preparation for the upcoming decentralization of the anonymous network. The decentralization work will continue immediately with the Decentralisation Whitepaper slated for release in early November. When the system is ready, trusted server operators will join the decentralized network testing process. Shortly after testing is completed and the new system is running in a truly anonymous, decentralized manner, the network source-code will be released. Once decentralized, members of the public will be able to host their own processing servers and earn Nav Coins for the transactions the process.
In addition to the optional anonymous transaction service, Nav Coin’s biggest strength is it’s super fast network speed. It’s no secret that Bitcoin has an average transaction time of 10 minutes, with transactions over heavy periods taking much longer. With a block time of 30 seconds combined and a scalable block size of up to 20MB, the Nav Coin network is able to handle 1300 transactions per second. Nav Coin fills a niche where the giant that is Bitcoin can’t at present, almost instant transactions and the ability for anonymity with the simple click of a tick box.
This has been a big year for Nav Coin, however, the next few months will really be NAV’s time to shine. Here’s what we have planned for the coming weeks after today’s Navtech launch, and the soon to be decentralization network upgrade:
Official NAV Web Wallet: 95%
An X13 capable, custom Electrum server that can create fully-qualified wallets, and will be released with the option for self-hosting. The NAV team will provide a website and service integration support if you need.
A low-energy NAV PoS Staking solution based on the Raspberry-Pi platform. NAV’s highly anticipated touch-screen staking unit, offers a more energy efficient way to setup wallet a address, view your balance, and an easy to use withdraw option.
Decentralization Implementation: 85%
The release of the new Navtech value-transfer system, was a key piece of the decentralization network implementation. The new architecture allows Navtech servers to operate in trusted clusters and form their own private mesh network of processing servers which anyone will be able to run and earn rewards from.
These status numbers represent an agreed completion grade given to the project by the core devs, volunteer community devs, and when necessary, the community test participants. This method of voting by group has helped the NAV team meet every goal earlier than expected, and within a reasonable two-week period when releasing later than expected.
To learn more about the design of the new network head over to https://navcoin.org and have a look at the whitepaper. If you’re not very technical or you just don’t have the time, please take a look at the whitepaper cheat sheet. Any questions or concerns about the current or future iterations of Nav Coin can be addressed in the Nav Coin bitcointalk forum thread, Slack channel, or Twitter.
The navcoin.slack.com is open for any and all questions regarding user or node setup. Join the channel #navajocoin-faq if you’re a new user or maybe you’re just curious and would like some information. For guides and general help regarding NAV wallets, nodes, source-code, or platform-specific guides, please visit https://navcoin.org/guides. Although highly-technical questions are welcomed, and encouraged, please understand that the NAV team will only answer these types of questions in the official NAV BitcoinTalk thread https://bitcointalk.org/index.php?topic=679791.0 . This is so there’s a public record of all technical related responses regarding NAV, Navtech, and the upcoming network upgrade.
Don’t be discouraged to join yet another site. Come ask questions, play around, or even troll our community. As long as it’s all in good spirit, we need more people to try and break our code, network, wallets, and anything else you can think of. Rewards are granted for bug-hunters, cryptographers, network specialists, professional security researchers, or just some wise guy with skills, so feel free to collect the bounties listed on the official NAV website at https://navcoin.org/bounty.