The following post by crypto_sIF is being replicated because the post has been openly greylisted(for 1.8 hours).
(It was approved by the mods at: 2019-01-26T13:57:29.000Z)
The original post can be found(in censored form) at this link:
np.reddit.com/r/ CryptoCurrency/comments/ak0aai
The original post's content was as follows:
The History, The Current State And The Future Of NavCoin
This is it. If you're interested to see what NAV is all about, this is the ultimate guide for you. You will learn about the history of NavCoin and how it evolved. You will learn about the current state and features of NavCoin and you will learn about the exciting new features that are planned and coming up in the (near) future.
So buckle up, this is going to be a long ride!
Table Of Content
- Introduction
- What is NavCoin?
- The History
- Introduction
- SummerCoin
- Rebranding to SummerCoinV2 /NavajoCoin
- Rebranding to NavCoin
- The Current State
- Introduction
- Core Team
- Features
- Tutorials And Guidelines
- Community
- Where can you use NAV?
- The Future
- Upcoming Features
- Outro
- Surprise :)
Introduction - What is NavCoin?
- NavCoin is a cryptocurrency that has been publicly traded since mid 2014. It's a fork of the latest version of Bitcoin Core with many additional features and functionalities which differentiate NAV from other cryptos.
- NavCoin has been one of the first projects to switch to Proof of Stake and is still using PoS to validate and generate blocks. NavCoin didn't have an ICO or a premine. It is self-funded from the beginning and primarily, but not solely maintained by developers of Encrypt-S?-?the NavCoin Core team (see below for more info about the team).
- NAV is trying to simplify cryptocurrencies for the masses. It does this by providing features which make it easy to use like the implementation of OpenAlias, which allows people to send NAV to an email-like address (for example [cryptosif@nav.community](mailto:cryptosif@nav.community)). It also provides very easy to use desktop and mobile wallets.
- NAV also provides optional privacy. You can send transactions publicly or private, as you prefer.
- It's block speed is really fast with about 30 seconds per block. Transactions are confirmed as spendable within only 30 second which makes it ideal for retail and e-commerce.
- Extremely low transaction costs (0.0001 NAV/transaction)
- High levels of scalability (260+ transactions per second)
- It currently has a market cap of 11.6kk (as of writing) and trades for about $0.18 / 4'872 Sats per NAV. The circulating supply is 64kk with no max supply (with an inflation of about 4%).
- Staking NavCoin currently yields about 8–10% of your holdings per year. This number depends on how many NAV are currently staking. The minimum return is about 4% (if every single NAV would be staking).
- NAV is available on many different exchanges with the biggest ones being Binance, Bittrex and Poloniex.
- In Italy, the adoption of NAV actually is quite high already. Here is a map that shows, where you can pay with NAV in different stores in Italy: https://www.google.com/maps/d/viewer?mid=1bkvfwu2GHkgNYF63ryZvUiU4Z3-hZmik&usp=sharing You can use it to pay in Bars, Pubs, Tattoo stores, grocery stores, hotels, recording studios and even for a cardiological examination.
The History
Introduction
The following chapter will summarize and break down the history of NavCoin in a few sentences. NAV started a long time ago, went through rebrandings and changes of the core team before it became what it is today.
SummerCoin
NavCoin was initially first introduced under the name SummerCoin on April 23 in 2014. SummerCoin was a fork of the Bitcoin blockchain. It used to have a PoW/PoS hybrid algorithm with a block time of 45 seconds.
SummerCoinV2 /NavajoCoin
Soon after the initial launch of SummerCoin, the original developer left and SoopY (soopy452000 on bitcointalk) took over as the main developer and rebranded the project to SummerCoinV2 respectively NavajoCoin and introduced new features.
The name NavajoCoin was chosen in honor of the Navajo Code Talker. The unbreakable Navajo code was used to encrypt highly classified military information and commands and decrypt the same in WW II.
SoopY introduced a technology which allowed sending transactions anonymously and private. This technology was called "Navajo Anonymous Technology". SoopY also released a new wallet and set the Proof of Stake rewards at 10% for the first year, 5% for the second year and 2% for every year after.
NavCoin
On August 12, 2014, Craig (current lead core developer, pakage on bitcointalk) started to get involved with NAV by helping to set up a website [10].
It was officially announced that Craig joined the core team as a "Wallet & Web Developer" on November 06, 2014.
The last tokenswap and restart of the blockchain of NAV happened on May 12, 2016.
Soon later, SoopY stopped showing up and Craig stepped into the role of the lead core developer. Since then, Craig has assembled a strong team with which he built NavCoin into what it is today.
Currently, Craig and the NavCoin Core team is located in New Zealand and they are actively developing many ground-braking features which differentiate NAV from other cryptocurrencies. You will read more about that later in this article.
The Current State
Introduction
The year 2018 has been a thriving year for the NavCoin ecosystem. Despite the USD price of NAV not reflecting it, in 2018 the core team has developed a whole bunch of new features. Also the core content creators published the first official guidelines that function as an orientation guide for community content creators. This chapter will give you an overview of the current team, the features, the prior mentioned guidelines and the community of NavCoin.
Core Team [1]
Last year, the core team has grown alot. It contains of developers, content creators and interns. The core team are employees of Encrypt S, the New Zealand's leading blockchain R&D lab. Encrypt S is developing blockchain solutions since 2014 and values building open-source software highly.
Craig MacGregor?-?Chief Executive Officer
Craig is the CEO of Encrypt S and the founder of NavCoin. He is one of the world's most experienced blockchain developers. Craig founded NavCoin in 2014 and is developing software for it since then. He has assembled a strong team of like-minded people. Craig also speaks at seminars and conferenced. Some of the companies and conferences he did blockchain education sessions at are Oracle, Xero, Air New Zealand, Blok Tex and trademe. Together with the team, he is also doing a education series on YouTube where he explains upcoming features in-depth for the community.
Alex Vazquez?-?Chief Technical Officer
Alex is the CTO of Encrypt S and the most active contributor to the NavCoin core Github. He has incredible knowledge of blockchains and proposes and implements solutions for challenges and features. He supports community developers frequently and answers any questions of the community thoroughly. Like Craig, Alex is developing software for the NavCoin ecosystem for a very long time. Alex speaks at universities at times and educates students about the blockchain technology.
Paul Sanderson?-?Lead Software Engineer
Paul is the Lead Software Engineer at Encrypt S. He has a flair for technology. His technical and management skills are perfectly suited for consultancy and investment advising. He also frequently contributes to the NavCoin core source code.
Rowan Savage?-?Senior Software Engineer
Rowan is a full stack software engineer with more than a decade experience in developing complex front-end web applications. He joined Encrypt S in February 2018 and has since been involved in the Valence Plattform, the Kauri Wallet and NavCoin Core. You will read more about these feature/projects later.
Carter Xiao?-?Lead UX/UI Designer
Carter specializes in user-centric design and is also very talented with 3D animation, motion graphics and programming. One of NavCoins core principle is "Simplifying Crypto" and UX/UI is a very important part of that.
Matt Paul?-?Software Engineer
Like Rowan, Matt is a full stack Software Engineer. He joined the core team in Mai 2017 and has since worked on NavPay, NavPi, the Kauri Wallet and NavCoin Core. Kieren Hyland?-?Chief Strategy Officer Kieren is one of the employees that are working for Encrypt S for a very long time. He is the CSO and is a digital strategist and growth hacker with a passion for new technology and has a lot of experience in online marketing. Laura Harris?-?Creative Director Laura has a combination of commercial and creative flair. She manages the social media accounts for NavCoin and ensures, that NavCoins' message is always powerful, relevant and distinctive. John Darby?-?Content Creator John is an internationally awarded Technology and Financial sector marketing communications specialist. He is one of the Core Content Creators for NavCoin.
Features of NavCoin [2]
The following features are currently available and have been developed in the last months and years. It is sorted from newest to oldest.
Static Block Reward
The soft-fork for the enabling o...
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