Navcoin is a native cryptocurrency of the Navcoin blockchain platform created on the Navcoin blockchain network platform whose transaction takes place from one peer to another without involvement by the government thus is being considered to be a decentralized asset.As a native coin of the Navcoin blockchain, Navcoin was created to be used to pay for transaction for sending Navcoin to other users as well as to enable different developers to use it to pay for the fees for running their Dapps on the Navcoin platform. Developers of different Dapps can also use the Navcoin to create and issue the tokens of their Dapps on the Navcoin blockchain thus those tokens can serve the purpose based on the usage of the Dapps.Navcoin will also enable users of different tokens created and issued on the platform to be able to swap those tokens to Navcoin. Since Navcoin is a proof of stake coin, users of the platform can use the Navcoin by locking them in the Navcoin core wallet for a given period of time to secure the Navcoin network thus in return they will receive reward
Navcoin transaction takes place on the Navcoin blockchain explorer based on block height and timestamp. Here is a view of the Navcoin transaction;
To view how the transaction takes place on the Navcoin blockchain, you can follow the link below;
Navcoin project was started and launched in 2014 with the main objective of solving the problem of scalability as well as easing transaction on the network .
Founder Of Navcoin
Navcoin was created by Craig Macrgegor who is a blockchain technologist with the main objective of becoming a native coin for its Navcoin blockchain platform thus Easing transaction rate on the network as well as solving the problem of scalability which is being faced by platforms like Ethereum.
Process of creating Navcoin
Unlike cryptocurrencies like bitcoin and Ethereum which are released through the mining process using power supply and internet using the proof-of-work consensus, for Navcoin, that is not the case. Instead, Navcoin was created to become a proof of stake coin.During its launch, some amount of around 50 million coins were released. Since Navcoin is an inflationary coin, during its first staking program, 20% of the coins staked will be released followed by 10% the second year. from there, the inflation rate of reward declined to 5% per anum from the coins staked. Let say that in the first year the amount staked was 10,000,000 coins ,then this will bring an inflation rate of 2000,000 coins in that year. If in the second year, the coins staked is 20 million then its inflation rate will be 2 million coins as well .After that, the inflation rate becomes 5% the whole year. You can either become a solo staker or can pool your coins to a staking pool to increase your reward. As a solo staker, your reward can go up to 5% per year while when you pool your coins to a staking pool your reward can go up to 10% the whole year since the staking pool will also be rewarded the fees income generated which they can distribute to stakers based on their leasing amount. The more the staking the more the reward. To become a solo staker, you only need to download the core wallet for Navcoin and make sure to deposited some Navcoin amount over there.Here is how the Navcoin reward process looks like;
To stake staking Navcoin, you can download the Navcoin core wallet for windows, Linux and Mac or you can join a pool staking from below https://www.navpool.org
Maximum circulation of Navcoin
Unlike other cryptocurrencies which have a maximum capitalization in their blockchain network, for Navcoin, their is no maximum cap. Instead, it is an inflationary coin. During its launch, 50 million coins were released. After that, when its staking kick off in 2014, 20% of the coins staked were to be released followed by 10% the following year and 5% another year respectively.
Currently, 1 Navcoin is worth more than $0.08 and its price is expected to increase over the next period of time. Navcoin is being abbreviated as NAV.
Converting my Navcoin to other cryptocurrencies
To convert your Navcoin to other cryptocurrencies such as bitcoin and Ethereum, you need to have a cryptocurrency exchange account. If you don't own one then you can follow the link to open a cryptocurrency exchange account for easy conversion of your Navcoin to Bitcoin or Ethereum. Here is a list of exchanges where you can easily exchange your Navcoin to your favorite cryptocurrencies;
Storing my Navcoin
To store your Navcoin, you need a Navcoin wallet. You can either store online or offline. To store your Navcoin online, you can either use Navpay, NEXT, magnum wallet or coinomi wallet. To securely store your Navcoin offline from being stolen by hackers, you can download offline Navcoin core wallet for Linux, windows or mac
Transferring my Navcoin to other Users
If you want to transfer your Navcoin to another user, the two of you must have trust in each other. The trust should be the Navcoin address provided for by the receiver while the sender must have the Navcoin balance in their account to send to the receiver. For the sender, a blank space to insert the receiver address and another blank space to insert the amount to send to the receiver is indicated. Here is how it looks like;
Knowing more About Navcoin
If you feel that you need to learn more about Navcoin, then you can follow them on their site. Here is the link redirecting you to Navcoin platform website
You can as well read their white paper to learn more about their idea from below
You can also join as a community member in any of their social media platform from below to follow the discussion made by other community members;
Now that you know, I think that it is time for you to start earning some Navcoin coin by simply staking them on your navcoin core wallet or by leasing your coin to a navcoin pool to secure the network. The more your staking the more your reward.If you feel that we should also own some Navcoin for simply helping you know about then here is our Navcoin address;