Hello and welcome to this blog post about Navcoin NAV White Paper. I am very excited to know that you are interested in this amazing technology, you will be going to amazed by the incredible potential of the blockchain.
There is a lot to learn about this futuristic tech, lets get started to dive into the Navcoin NAV white paper and start to leverage it to build a more secure and trusted ecosystem for Industry 4.0 applications.
The aim of this blog post is to help you quickly understand about the philosophy behind the Navcoin (NAV).
I can ensue you that, you will be able to understand every bits and pieces related to Navcoin (NAV) after going through the Navcoin NAV white paper.
Without wasting any further time lets get started to dive right in and lets understand white paper first.
What is white paper?
A white paper is an informational, influential, well-structured document, usually published by an organization, to provide in-depth information about a specific solution.
A white paper is used to provide a good insight into the challenges for a specific problem and a proposed solution for the same.
Navcoin NAV White Paper
Navcoin NAV white paper will be going to provide you, all the information that is needed to get started with Navcoin (NAV), including the inspiration for creating, the problem it is trying to solve and the solution proposed by Navcoin (NAV).
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NavCoin is an open-sourced digital currency with privacy-enhanced features. Transactions that occur on the blockchain of NavCoin are made in a peer-to-peer fashion with no need for intermediaries. With NavCoin, one can choose to store and transact coins publicly (NAV) and privately (xNAV). If one chooses to transact privately, it will not be possible to link a transaction to its sender or receiver, or even view the amount that was sent. This has been made possible by NavCoin’s self-developed privacy protocol called Boneh-Lynn-Shacham Confidential Transactions (blsCT).
NavCoin was invented in 2014 and had no pre-mine or ICO. With block times of 30 seconds, one can stake their coins to earn rewards through Proof of Stake Version 3 (PoSv3) for helping to secure the network. NavCoin’s current supply is 66,768,000 NAV with a block reward of 2.5 NAV, hence a decreasing inflation model. From the 2,5 NAV, 2 NAV are redirected to the staker who found the block, and 0,5 NAV are accumulated in a decentralized treasury used to fund community initiatives based on the outcome of DAO votings.
NavCoin’s decentralized autonomous organization (DAO) enables the community to be self-funded its treasury, self-guided through consultations, and self-governed through consensus changes. Anyone who holds coins on the public side (NAV) can participate in the DAO by staking their coins. Each stake is the equivalent of one vote, and there is no minimum amount required to take part.
NavCoin Core is forked from bitcoin core v13.0, and as such, it inherits its P2P protocol and most of the RPC commands. This documment will reflect the new methods and implementations.
White Paper Link: Navcoin NAV White Paper
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