Nav Coin is a interesting project that has a very solid foundation with a TON of potential for the future. Their roadmap is jam packed with things that could make Nav a game changing coin.
Nav is one of my favorite coins and in this write up I will be exploring all aspects of why I think it is a great investment. As always, please do not take this or anything I say as investment advice. I’m just sharing my thoughts and please do your own research before making an investments.
My Research CriteriaWhen I’m researching a coin I will look at a handful of different criteria to determine if I’m interested in investing in it. The criteria I look at is as follows:
Coin Basics: Basic coin information and details
Unique Selling Proposition (USP): What makes this coin unique?
Team: Determine the quantity and quality of the team
Transparency and Communication: Do they keep investors in the loop?
Community: Determine if there is a active community around the coin
Competitor Comparison: How does the coin compare to its competitors?
Investment Potential: How big could this coin be in the future?
I will be running NAV through each one of these criteria points to determine the quality of investment.
Coin BasicsBefore we get into the details of this coin, let’s first look at the basic coin details so you can get a better feel for what Nav is about.
-Created June 2nd, 2014 as SummerCoinV2 then Rebranded to Nav Coin
-Current Market Cap: $15.6 million
-Based off Bitcoin 0.13
-Proof of Stake at 5% Annually
-Uses a Dual Blockchain (called the Subchain) to offer Optional Private Transactions
-30 Second Transaction Time
-Segwit Activated
What Makes this Coin Unique?Before we get into what makes this coin unique, I want to make it clear that Nav’s fundamentals and foundation are extremely solid. Since Nav is based on Bitcoin, it contains all of the great features of Bitcoin which gives Nav a strong foot to stand on when building out more unique features.
If a coin doesn’t have a solid foundation to begin with, it will be hard to sustain long term. It would be like trying to build a mansion on quick sand.
Utilizes Dual Blockchain Technology (NavTech)NavTech is something that initially caught my eye when I was researching Nav for the first time. Nav runs on two blockchains (called the sub chain) which is used to break any link or relationship between the sender and receiver when sending payments.
This technology allows the users to send optional anonymous payments through their wallet. When sending a payment, you have an option to choose between a normal payment and an anonymous payment.
From my research, Nav isn’t the most private or anonymous coin bit it does add a layer above normal transactions (such as Bitcoin). However, the Nav team is busy working on an upgrade to the NavTech which will bring even more anonymity and privacy to payments.
Segwit ActivatedSegwit was activated on May 21st, 2017 and becomes one of only a handful of other currencies to have Segwit. This provides a lot of benefits to the coin, but the biggest one being that Nav is now able to run Lightning Network whenever it becomes ready to use.
The other major benefit of Segwit is that it is now possible run smart contracts on the Nav platform. This opened up a huge opportunity and paved the way for ADapps (more on this in a minute).
Other Features:30 second transaction times
5% annual interest when staking
Custom Raspberry Pi’s called NavPi that can be used to stake
Low transaction fees
The features mentioned above would already make this coin severely undervalued at $15 million market cap. However, they aren’t the main reasons why I’m excited about the potential of this coin.
Upcoming FeaturesThe main reasons why I’m excited for this coin are below.
NavTech PolymorphFrom Nav Coin’s websites:
“ NAVTech Polymorph is a fusion of NAVTech’s Anon transactions and Changelly’s instant exchange. It will enable users to send any one of 25+ cryptocurrencies anonymously through the dual blockchain powered NAVTech anonymous transaction system.”
This is huge.
Let me give an example of why this is a game changer. If I wanted to pay someone anonymously and only had Bitcoin then Polymorph would allow this to happen. Here’s how: BTC goes in, it gets converted to Nav and put through the dual blockchain and then BTC is spit back out to the person you wanted to send it to.
This adds a layer of anonymity to all of the currencies on Changelly by using Nav.
Some other benefits of Polymorph are summed up perfectly by Colvano in the Nav Coin ANN forum:1. Marketing: Polymorph will provide a huge marketing opportunity. The partnership with changeling gives trust for new users. Also there is an actual product that can be marketed. There is no need to specifically focus on NAV Coin, polymorph is the product and potential users will find out about NAV Coin and how it works.
2. Unique product: NAV Coin is no longer just another alt coin with anon capability. NAV Coin offers a product that is unique.
3. Volume: NAV Coin will see a growth in usage because of how polymorph works. This will create more transaction on the blockchain, which also enhances privacy. More transactions will bring more transaction fees into each block, profitable for stakers.
4. Locked up coins: To process anon transactions one has to lock up NAV Coins. The more NAV coins are locked up for Navtech, the less nav is available for sale.
5. Anon fees: Anon transactions are currently processed by a number of servers. Future development aims to enable everyone to easy process anon transactions. At the moment this is possible for everyone, however setting up a navtech server isn’t easy for everyone. Every anon transaction comes with a fee for the processing node. The more transactions, the more fees can be collected. So next to the 5% stake reward, NAV coin holders can also generate a number of TX fee for income.
6. Exchange volume: the instant exchanging will work with exchanges. The more transactions are done with polymorph, the more transactions are made with exchanges. This way nav coin volume grows on the exchanges. Volume is important for exchanges and traders.
Currently, the Nav team is 33% done with and is getting closer each week to releasing it publicly. It’ll be interesting to watch how the market reacts to this.
Anonymous DApps (ADapps)I briefly mentioned this above, but this innovation could be huge for Nav. We are all aware of the huge Dapp craze going on right now with Ethereum but one market that is completely untapped are anonymous DApps.
Nav is still in the planning stage for this, but if done correctly Nav would be the first platform to offer something of this kind. This would provide increased anonymity for both the developers and the users.
Projects in niches that are geared towards being anonymous such as gambling, sports betting, black market and others could see a huge benefit by switching over to Nav. If this were to happen Nav would see a huge use case that would really take the coin to the next level.
In a recent blog post update on July 6th, there was mention of people and projects that are interested in Nav’s DApp platform if/when it becomes a real thing. So it sounds like once it gets off the ground there could be immediate interest once it launches.
Another thing to keep an eye out for the very near future regrading Nav’s DApp platform is the whitepaper that being released soon. In a July 19th blog post, the following was said:
While the Engineering team have been making progress on our various development projects it has freed our Chief Engineer Craig MacGregor to continue working on the draft white papers for the upcoming Anonymous Dapp platform. Most of the research for the platform was finalised on Craig’s trip to Berlin with Alex and now it is simply a matter of formalizing it into a series of documents for public consumption.
I would expect a nice boost in price and more people becoming interested in Nav once this whitepaper is released.
Final Thoughts Regarding Upcoming Features
Nav Coin already boasts an impressive amount of new tech and features in their current state. However, I think we will see Nav really explode once they begin releasing more info about their upcoming keystone projects. This is what can really take Nav to the next level and I’m excited to see how thngs unfold.
The TeamUnlike a lot of coins out there, the NAV team are 100% transparent about who is on the team. This includes real names, actual pictures and links to all of their LinkedIn profiles. Someone outside of Crypto might think this would be standard practice, but it isn’t. The simple fact that we know exactly who is behind NAV goes a long way to build trust.
The Nav team is located in Auckland, New Zealand and the majority of the team members are from the University of Auckland. Nav is a project of Encrypt S Limited, which is a company that provides blockchain products and services. The lead developer, Craig MacGregor, is the CEO of this company.
Continued here:
https://medium.com/@jshocrypto/nav-coin-investment-overview-e79ffffefd99
