About the coin

Navcoin, launched in 2014, is an open-sourced digital currency designed to offer fast and reliable payments with innovative technological and privacy features. It allows users to store coins in a Navcoin wallet, enabling them to make public or private transactions, earn rewards through staking for network validation, or enhance privacy by mixing coins. Navcoin operates as a fully Decentralized Autonomous Organization (DAO), allowing anyone to participate by staking NAV in their wallet, thereby obtaining a say in protocol governance and voting on community proposals.

Main features

Unique to Navcoin’s cryptosystem is the ability to convert public NAV coins 1:1 to xNAV, a privacy coin that guarantees untraceable transactions. Additionally, Navcoin has introduced wNAV, a wrapped representation of NAV, usable in ecosystems like Ethereum and Binance Smart Chain (BSC). Navcoin was launched without pre-mining or an ICO, ensuring a fair and transparent initial distribution of the supply.

How it works

Navcoin’s privacy-enhanced features are achieved through xNAV, a privacy coin based on decentralized, trustless, and permissionless technologies. xNAV is built on the self-developed privacy protocol blsCT, which merges Boneh-Lynn-Shacham (BLS) Signatures and Confidential Transactions (CT). BLS compresses a group of signatures into a single compact signature, shielding the origin of individual transactions, while CT obfuscates the amount of coins in a transaction. xNAV also uses Stealth Addresses, public-key cryptography, and the Dandelion++ protocol to ensure personal privacy. Navcoin’s network is secured by a Proof of Stake (PoS) consensus mechanism, allowing users to earn passive income by staking NAV to validate transactions. The governance system enables all public NAV holders to participate in platform governance, with no central authority controlling Navcoin.