You’ve heard of Bitcoin. You’ve probably even heard of Ethereum. Maybe you’ve heard of Litecoin or some other cryptocurrency. But I bet you have never heard of Nav Coin. Now, I’m not here to try to convince you to buy Nav Coin or any other cryptocurrency, but I am here to try and convince you that Nav Coin is doing everything that all the other cryptocurrencies do. Moreover, this cryptocurrency has been flying under the radar for a long time and it could be discovered by value traders very soon. But before we begin, let us get into what cryptocurrencies actually do!
What Can Cryptocurrencies Do?
Cryptocurrencies are a lot more than just currency. For example Ethereum can host decentralized applications on top of its blockchain. Ethereum is not alone in this space, there is also NEO, Lisk, Waves, EOS and Stratis (among others). Aside from decentralized applications, one can host ICOs, launch crowdfunding campaigns and build smart contracts on top of the Ethereum Blockchain.
Cryptocurrencies Can Be Anonymous!
Cryptocurrencies can be anonymous. With Bitcoin, if your identity is linked to a wallet address, then you can be tracked and traced. The trail of money from wallet to wallet is completely public. All that anyone has to do is find out which wallet address is linked to you. From that information, anyone can trace the money trail back to whoever or wherever it ends up. This is a huge problem for people that want to remain anonymous.
In the anonymous game, we have Dash, zCash and Monero (among others). These coins solve the anonymous problem in different ways, but none of them offer a solution for decentralized applications. That’s right, applications built on top of the Ethereum blockchain have their data open for the public eye. There currently is no anonymous solution for decentralized applications, but there is one development team about to release a whitepaper for exactly that!
Introducing Nav Coin, A Cryptocurrency Like Ethereum But Anonymous!
Nav Coin’s developers are set to release the whitepaper (in 2018) for how they will go about building the first anonymous decentralized application platform (Anon Dapps). The team is set to meet in Europe next year to deliver a prototype. The team will be upgrading Nav Coin and the Subchain to implement smart contracts. The Anonymous Decentralized Apps (ADapps) will be built on top of Nav coin’s existing dual blockchain system.
Unlike Ethereum, you won’t need to learn a new programming language to build decentralized applications. You see with Ethereum, developers must learn another language (called Solidity) in order to build smart contracts and applications on top of the Ethereum blockchain. With Nav Coin, developers will be able to use their native language to build applications. So we are talking about Java, Swift, Python and other popular languages.
Cryptocurrencies Can Morph
As of now, we don’t know of any cryptocurrency that can morph. Aside from the upcoming build of Nav Coin’s polymorph, no cryptocurrency can morph from one form to another. What are we talking about? Well, think of yourself entering a shop that only accepts Bitcoin. You look into the wallet on your phone and realize you only have Litecoin to spend. What are you supposed to do? Well, aside from pulling out your regular old Mastercard/Visacard, you could use Nav Coin’s Polymorph Technology. You would be able to instantly morph your Litecoin into Bitcoin without having to open up an exchange and without any trading. With Nav Coin’s Polymorph, the user chooses their input currency & amount, output currency & destination address. Polymorph will exchange whatever currency is input to NAV with Changelly, send it through the dual blockchain private payment platform NavTech, then exchange it back to the specified output currency and then send it to its destination. Neat right?
Cryptocurrencies Are Fast
Make no mistake, cryptocurrencies are fast. Yes, it is ridiculous to have to wait ten minutes before you can buy something, but they are still faster than your visa/debit tapping. Visa/Debit transactions only look “immediate” because they are cheating. You see when you tap your visa card, your money was not actually received by the payee, instead your bank gives the payee’s bank a sort of assurance that it will get its money. Think of it like a bartender’s tab, you pay at the end of the night. Between banks, there is an overnight settlement where each bank works out who owes each other what, based on the flow of their customers’ transactions. With cryptocurrencies, no such shenanigan happens.
When you send a Bitcoin, it is sent and confirmed within 10 minutes (can be up to an hour in some cases). Some cryptocurrencies have managed to bring that figure down to 2 seconds (crazy right?). This is what people mean when they say blockchain will do to banks what the internet did to media. If you are curious about Navcoin, a Nav can be sent in as little as 30 seconds. It is not the fastest, but it’s also not the slowest!
Nav Coin has plenty going for it. The blockchain has 30 second transaction time, 20 MB scalable block size, NavPay, Polymorph, anonymous transactions and soon to be anonymous decentralized application platform. You may think that this coin is already in the billions of dollars in market cap, but it isn’t. Nav Coin is currently flying under the radar with a market cap of $140 million dollars. We can understand why the coin hasn’t picked up any major hype as it is not the only anonymous coin, it doesn’t have the fastest transaction times and it doesn’t yet offer decentralized applications like Ethereum. But all of that is about to change in 2018. It is only a matter of time until the Nav development team unveils their Anon Dapps platform to the world. Only then will the cryptocurrency world realize that Nav Coin has really packaged everything into one single coin!