It’s time for the weekly update! This one is absolutely jammed with good news.
We are very proud to release the Navtech Decentralisation White paper which covers how we plan to decentralise the Navtech System. How we will provide a safe and secure environment for both server operators and users alike.
Navtech Decentralisation Whitepaper
Cryptocurrency technology is decentralised by design. It is believed that rigorous truth is a natural byproduct of an open source platform run by the public. The decentralisation and automation of systems enable people to make informed choices about the systems in which they choose to participate and provides an even playing field as never seen before in history.
As well as the inherently democratic nature of decentralised systems, they offer protection to the participants by providing a safety in numbers hypothesis. This limits the ability of malicious actors to threaten or attack participants in the system due to the number of people involved and the global nature of their relationships.
Another advantage is that they are extremely robust. Once a piece of software has entered the public domain, it becomes impractical and virtually impossible to shut down completely. This enables security to the future of the system and knowledge that if the public deems it valuable it will persist.
Please keep in mind this is a beta document. The rest of the team still need to refine it with me but that will be very minor tweaks at this stage.
Nav Coin Store
With Nav Coin now on CoinPayments.net we really wanted to showcase how easy it is to use NAV during checkout in your online store. We have officially opened a merchandise store for Nav Coin which accepts NAV as a functioning showcase of the gateway!
So far there are only NAV stickers available and also a donation option. I have also added two colours of t-shirts and hats but I am still waiting on some companies to come back to me with some prices of each I would expect them to become available within the week. The donation option is a cheap and easy way to check out the payment gateway and it will be put towards future development and server costs.
I have also put together a guide explaining the steps I took to get the store up and running. You will need to know some basic web development or wordpress at least: http://navcoin.org/guides/wordpress-store
The interesting thing here is that I have trialled purchasing some donations using the Navtech Anonymous System and it worked except it was hard to get the amount exact because of the way the tx-fees work with the random amount of transactions generated by the anon system. I spent some time today coding an update for the Navtech servers which means the tx-fees are taken from the anon processing fee instead of from the senders coins. This means that the amount you get out will be exactly the amount you put in minus the processing fee (0.5%).
I created a calculator to help people figure out how much they need to send: http://navcoin.org/calculators/navtech
For example, if you want to send 1000 NAV through a server with a 0.5% processing fee, it will tell you that you need to send 1005.02512563 NAV in total. Pretty handy, especially for these merchant tool situations.
Anonymous Merchant Gateway
With the Navtech script update deployed and the fee calculator, I can say that we now have not just a Merchant integration, but in fact an Anonymous Merchant Integration!!
I have skipped the Anonymous Merchant Integration project from pending to complete on our projects page: http://navcoin.org/projects
Myself and Mark and Sophia are making contact with business owners in our city of Auckland who are interested in using CoinPayments.net and NAV for payments with the Point of Sale tools. One bar owner has already positively responded and we are meeting with him tomorrow to work out the details of implementing NAV at his premesis.
Petros Anagnostou has advised us that he is setting up a web hosting company and that he will accept NAV through CoinPayments.net. Petros will be offering a discount for services when paid for in NAV. There will be more details on this as the service goes online later this week.
Petros is also going to be one of the first 3rd party network operators of the decentralised Navtech system. He has offered to help beta test the system as a network operator and help us get it ready for launch.
You can check out more about him on his linked in profile, he has quite the resume and I am really pleased to have him on board for this.
We are still looking for at least 1 more network operator to take part in the beta test of decentralisation over early December. If you have access to some web servers, you know your way around linux and you want help, please send me a PM.
Petros is actually being amazingly helpful. He has suggested that we start up an Ambassador program for NAV. We have had the translations of the OP which is a good start but now we are looking to place ambassadors for NAV Coin all around the world. There will be some NAV bounties dished out to ambassadors, but it is mainly a role for someone who is invested in NAV and wants to see it succeed.
If you’re interested in becoming a NAV Ambassador for your region, please jump on our slack channel and we can discuss the details in #ambassadors
That’s about everything i think. We will be publishing some articles on the news blog and also across some of the news sites later in the week to support the whitepaper release and the store launch. Keep your eyes peeled for those.
I gotta go, its almost 6am here. I will post this update and some of the articles up tomorrow after I have big sleep!