NAV Coin employs proof-of-stake to achieve distributed consensus and mine coins. Holders of NAV Coins may stake their coins on full-node wallets (nodes which have downloaded the complete blockchain) and receive approximately 5% of their staked amount per-annum. Staking rewards are distributed when a group of coins is staked (the node generates a block that is accepted by the network), and is based on how long the coins which won the stake have not been used in a transaction. For instance, a group of coins which have not been used for a full year will generate 5% of their value, whereas a group of coins which have not been used for half a year will generate 2.5% of their value, et cetera.
The NAV Coin community voted on and passed a proposal in 2017 which would change staking rewards such that 1% of the generated coins go to a community fund to support future development and marketing activities, with the remaining 4% still going to stakers. This change is slated to go into effect sometime in 2018.
Due to the way staking rewards function, NAV Coin does not have a maximum number of coins. If every NAV Coin in existence is being staked, NAV Coin has a maximum rate of inflation of 5% annually. It is estimated that currently around half of the coins in existence are actively being staked, so the observed inflation rate of NAV Coin is 2-3% annually
NavTech is a dual blockchain system for sending private NavCoin payments. Essentially – the transaction information is encrypted and sent through a second blockchain, which breaks the link between the two addresses. It’s easy to use and comes pre-configured in the latest NavCoin wallet. It is open source, anyone can setup their own servers or contribute to NavTech’s development.
The NavPi StakeBox is a pre-configured Raspberry Pi that runs the NAV Coin daemon and a PHP based web wallet. The NavPi StakeBox is promoted as a means of reducing the energy costs associated with securing the NAV Coin network, as a Raspberry Pi consumes less electricity than a desktop or laptop computer.
The NAV Coin team also distributes a Raspberry Pi image that can be used on any commercially-available Raspberry Pi 3.
- NAV Coin Core
- Official Desktop Wallet [Windows/Mac/Linux]
- Official Web Wallet