NavCoin focuses on the development of a digital currency that enables lightning fast and cheap transactions. In the future, they will also support decentralized applications that are directly encoded in the blockchain.
NavCoin was originally created in June 2014 as SummerCoin (a fork of Bitcoin). The project has undergone a lot of rebranding and has finally been renamed NavCoin. NAV is a cryptocurrency based on Bitcoin, but the developers have changed several important functions of Bitcoin. First, NavCoin implements a secondary sub-chain known as NavTech.
The strong points of NavCoin were the fast transaction times. NavCoin sees block confirmations every thirty seconds as opposed to Bitcoins ten minutes. This is faster than Monero 2 minutes and Zcash 2.5 minutes. These fast transactions are also very cheap. Where currencies such as Bitcoin and Ethereum have problems with high miners' fees, NavCoin keeps transaction costs down. The average fee is only 0.0001 NAV to send a standard transaction. Private, encrypted transactions can be more expensive.
The NavCoin was introduced in 2014 and has since been tradable at various exchanges. You can use the NAV token as a form of value transfer, similar to the way you would use Bitcoin. There is no maximum edition of the NavCoin.
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