#Navcoin (NAV) is an open source digital currency with privacy-enhanced features.
Navcoin (NAV) is an open source digital currency with privacy-enhanced features. Transactions on the Navcoin blockchain are done in a peer-to-peer manner without the need for intermediaries. Following the launch of Navcoin Core 6.0, it became possible to store and trade coins both publicly (NAV) and private (xNAV).
▶️What is Navcoin (NAV)?
Navcoin was invented in 2014 and did not have an ICO. With block times of 30 seconds, cryptocurrency can be deposited to earn rewards via Proof of Stake Version 3 (PoSv3) to help secure the network. Navcoin's decentralized autonomous organization (DAO) allows for self-financing through the community's treasury, self-guiding through consultations, and self-governance through consensus changes.
Additionally, NAV and #xNAV represent currencies in the Navcoin network. NAV is public coin used for transparent payments, staking, and governance, and xNAV is the private coin used to hide payment details from external observers unless they are authorized to view the transaction history via a shared view key. NAV can be purchased or traded on exchanges and then converted to xNAV at a 1 to 1 ratio.
▶️Navcoin's network is secured by the Proof of Stake (PoS) consensus mechanism, which means anyone can use their NAVs to validate transaction blocks. The PoS mechanism is inclusive in nature and allows all community members to act as network validators.
In comparison, the Proof of Work (PoW) consensus mechanism Bitcoin uses requires miners to run powerful computers that can compute large mathematical problems to process transactions. The first computer to "fix" the problem receives a reward for doing so, and this mining process requires expensive hardware, access to cheap electricity, and excessive energy. PoS eliminates these resource intensive requirements and the 5v Raspberry Pi can successfully participate in staking on the network.
▶️NAV coin ranks 587th with $ 35,633,680 according to CoinMarketCap data as of the time of writing. In addition, it can be stated that the 24-hour trading volume of NAV Coin, which is traded with 0.5002 USD against the dollar, is 764.925.
Traded with 0.000008884 BTC against Bitcoin, Navcoin hit the bottom with $ 0.00005 on October 13, 2014, and broke a record with $ 5.53 on January 7, 2018. There are currently 71,237,328 Navcoins in circulation, which is stated to be a maximum of 71,237,328 Navcoins.
▶️Where To Buy NAV Coin?
NAV Coin can be purchased quickly and securely through Binance , the world's largest cryptocurrency trading platform in terms of transaction volume .
In order to purchase NAV Coin, you first need to become a member of Binance and then send fiat money. After sending a fiat money such as Turkish Lira or dollar, a purchase can be made on the Bitcoin (BTC) NAV transaction pair where the NAV Coin is traded.
In addition, on #Binance , users can make purchases at the desired price by placing a purchase order not only at market value but also at a lower value. For this, it will be enough to use the Limit tab and enter the amount you want to buy and the price you want to buy.