NavCoin is an open source project which allows anyone to contribute, this allows it to have a community initiative which means no-pre mine or initial coin offering. NavCoin developers have recently put a proposal system in place which allows members of the community to propose projects, budgets and initiate network votes to schedule funds. The funds are protected and will never be accepted without a positive vote from the majority of the NavCoin stakers.
Transaction times for an anonymous NavCoin transaction is around four minutes but for a normal, not anonymous transaction is takes the maximum of thirty seconds and with the average fee for NavCoin only 0.0001 this wipes Bitcoin and Ethereum off the table.
NavCoin core is a “paper wallet” and is desktop based that runs on operating systems such as Windows, Linux, and MACOS and requires you to download the 2GB blockchain this wallet is mainly used for cold storage of NavCoin. NavPay is an easy to use “Light Wallet” that involves no blockchain download and can be downloaded on your mobile device. Finally NavPi this software turns your personal Raspberry Pi into a low-cost way to help maintain the network.
NavCoin uses proof of stake (POS) which is a process of confirming blocks on the network. Rewards are paid out based on coinage and weight this gives four percent staking rewards when running a full node wallet supported by the network, anyone can do it with a normal computer or Raspberry Pi by using the wallets stated above (NavCoin Core or NavPi).
NavCoin uses 166,481 KWH compared to Bitcoin which is 37,120,000,000 KWH and Ethereum’s 10,210,000,000 KWH. This makes NavCoin energy consumption rate 233,000 times smaller than Bitcoin along with thirty-second block times.
Overall NavCoin is an open-source project that has a lot of key features to enhance the potential of the coin, with this coin being out of the top 100 coins on coinmarketcap. I’m really surprised it has great potential as ongoing projects allow it to evolve into the future. My personal theory since NavCoin being listed at the start of this year on “Binance” one of the world’s biggest exchanges, coins tend to dump I believe it is extremely undervalued and by the end of the year should reach a market cap of six hundred million.
