Nav Coin (NAV) — The Unbreakable Code

Nav Coin has been quietly overlooked as the world’s first fully anonymous cryptocurrency. It has been actively developed for the last three years, but remains in the shadows of the better known alt-coins. This cryptocurrency takes the widely accepted, Bitcoin Core, and adds all the benefits of being scalable, dynamic, lightweight, and accessible. Today, Nav Coin trades at $1.16 however, I see this cryptocurrency reaching $15 a coin in 12 months because of its partnership with Changelly, development of Anonymous Dapps (ADapps), ability for coin holders to earn 5% interest through staking, and the additional drivers that I have highlighted below.

Basics:

  1. Launched in April 2014, Nav Coin is a cryptocurrency based off the Bitcoin Core and is being managed from Auckland, New Zealand
  2. This project was launched by the company, Encrypt S Limited, based out of New Zealand
  3. Nav Coin runs on a dual blockchain that breaks any link between the addresses of the sender and receiver of a transaction
  4. No expensive hardware or extreme use of energy is needed to mine this coin, which makes it accessible to everyone
  5. Ticker: NAV
    Price: $1.16
    Ranking by Market Cap: 53
    Market Capitalization: $72,252,374
    Circulating Supply: 62,089,922 NAV
    Average Trading Volume: $6,434,647
    Block time: 30 seconds
    Consensus: PoS

Team:

  1. Craig MacGregor is the project lead on Nav Coin. He is also currently the CEO of Encrypt S limited, which provides Blockchain consulting services
  2. The Nav Coin team currently has 5 engineers working on this project
  3. 5 new digital marketers have recently been added to the team, which means they will be aggressively ramping up their marketing efforts
  4. The team is VERY transparent and active. They consistently hold weekly development updates and provide a real time roadmap update of their plans to the community
  5. The Nav Coin developers are extremely active on Slack and social media, constantly making themselves available to answers any questions from the community

Drivers of Growth:

  1. Nav Coin is the world’s first fully anonymous cryptocurrency that operates on a dual blockchain. This feature breaks any link between a sender and recipient of a transaction, referred to as NavTech
  2. Nav Coin’s partnership with Changelly, a cryptocurrency exchange provider, will allow users the optionality of sending any of the 25 accepted cryptocurrencies anonymously through NavTech. Meaning, if a user wanted to send Bitcoins to another individual, but wanted the security offered by NavTech, they would simply check the box, “anonymous transaction”, before finalizing the transaction. This will convert the Bitcoins into Nav Coins before sending them to the receiver, and convert the Nav Coins back into Bitcoins before reaching the destination address

3. Nav Coin is currently the only team in the market developing Anonymous Decentralized Apps (ADapps). This feature will give both the developer and user full anonymity. As a point of reference, Ethereum was the first protocol to introduce Dapps, and we saw what happen to the price of that coin

4. Nav Coin will soon launch the functionality of smart contracts, which will continue to extend its application and wide spread adoption

5. Nav Coin provides users with access to Tor and Onion nodes, which allows users to completely mask their IP addresses

6. The Nav Coin team will create a community fund to support and develop projects that will run on top of the Nav Coin blockchain

7. Nav Coin is SegWit activated so users can benefit from faster transactions times and it will be compatible with the Lighting Network once it’s launched

8. The Nav Coin community is one of the most proactive and forward thinking of all cryptocurrency projects in the market right now. Don’t believe me? The community voted and activated SegWit all in about 2 weeks. As a point of reference, it took the Bitcoin community years

9. Nav Coin’s anonymous transactions are based on RSA technology, which is a widely accredited algorithm. Far more studied and used compared to Monero’s, CryptoNote, and Zcash’s, ZKSnarks

Headwinds:

  1. There is a lot of competition in the market surrounding privacy/anonymous coins
  2. Since regulation will always trail innovation, the digital currency space can be subject to new regulations in the future
  3. As of now, Nav Coin’s growth has happened purely through word of mouth. There has currently been no marketing dollars spent on this project

Summary:

Based on the current valuations of projects similar to NAV:

Monero:

Price: $138.48
 Market Cap: $2,129,572,890
 Rank: 10
 Circulating Supply: 15,377,976 XMR

ZCash:

Price: $342.32
Market Cap: $929,023,971
Rank: 16
Circulating Supply: 2,713,881 ZEC

Without incorporating a growth rate my 12 month price target for NAV is:

Current:

Price: $1.16
Ranking by Market Cap: 53
Market Capitalization: $72,252,374
Circulating Supply: 62,089,922 NAV

12 Month Price Target:

Price: $15
Market Cap: $573,084,075
Rank: 20
Circulating Supply: 65,194,418 NAV

Taking into account a compound average growth rate of 20% my 12 month price target would be closer to $18 a coin.

I hope you enjoyed this week’s write up! Go Nav Coin!!

I want to give a shout out to Hacker Noon for publishing my last week’s post. Also, due to heavy demand I’ve been convinced to post 2x/week. Thanks for all the love!