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Description for currency

NavCoin (NAV) is an open-source and decentralised Proof-of-Stake Version 3 (PoSv3) cryptocurrency that aims to provide affordable and fast digital payments with a clear focus on privacy and simplicity. NavCoin launched in April, 2014, with no Initial Coin Offering (ICO) or pre-mine and is instead completely self-funded by a community of volunteers who believe in the project, its principles and the direction that it’s taking. Volunteers can propose both technical and non technical contributions and get paid for their work through NavCoin’s decentralised Community Fund (CF). As a result of the CF’s dual consensus mechanism, the funding of a passed proposal will initially be locked while waiting for its work to be completed and then only paid out if at least 70% of the voting participants agrees to do so given a minimum network participation rate of 50%. The voting power of the CF equals ones stake in the network with no minimum quorum required. An example of a completed CF proposal is when NavCoin was made the world’s first carbon neutral cryptocurrency by offsetting the carbon footprint of its network.

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rank 382


0.00001 ₿
market cap
675.3 ₿
vol 24h
$27 688
2.68 ₿
Trade 300+ coins without creating an account on any exchange

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