NavCoin Collective
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NavCoin Collective

Navcoin Core 7.0 (Discovery) Is Now Released!

Navigators,

The spaceship is ready for take-off! Today we’re releasing a new version of Navcoin Core named Discovery, and it’s already available for our community to download from our Github releases page. See its release notes for a detailed list of changes.

What’s new

The Navcoin Core team has proposed a set of new protocol changes, which will only get enforced and activated after a majority of the network signals its acceptance:

  • Burn Transaction Fees: We propose that transaction fees are effectively burnt and removed from the circulating supply, as opposed to the current protocol, where fees from a transaction included in a block are added to the staking reward.
  • Super Proposals and Dao Upgrade: We propose a change to allow the combined vote of more than one consensus parameter simultaneously. In addition to this change, we propose the creation of a new type of Community Fund proposals. This new type of proposals, to be named Super Proposals, would coexist with normal Proposals. They would differ from the normal proposals in that they would print the requested coins instead of subtracting those from the amount available in the Treasury. As such proposals would impact inflation in the same way a consensus change does, its approval threshold would be increased in comparison to legacy proposals to match the requirements needed for approving consensus changes.
  • xNAV mixing protocol changes and Private Tokens/NFTs: We propose to optimise the cryptographic verification protocol of the transaction candidates used in the xNAV mixing protocol, in order to halve their size by combining the 2 range proofs in 1 single proof. This will greatly reduce network load and improve the performance of the nodes. Additionally, we propose to modify the transaction’s output serialisation format, in order to better compact the different transaction fields. By creating special signal bits, we will compress scalars serialised as empty vectors down to 1 byte, thus reducing the transaction size slightly as well as creating room for a more creative use of the outputs. We’re also proposing to introduce the ability to mint private tokens as well as NFTs on Navcoin’s blockchain. These tokens are built on top of our self-developed privacy protocol blsCT, the same cryptographic protocol that enables private transactions on our network through xNAV. Transferring value through a private token will veil transaction details such as the sender, receiver and amount. Although the NFT’s associated metadata will remain public for verifiability purposes, their transfers will benefit from enhanced privacy hiding the sender and receiver.
  • dotNAV, an on-chain naming service: We propose the launch of an on-chain naming service, denominated dotNAV. Users would be able to buy names with the suffix .nav directly on the NAV blockchain, and later associate those names to NAV/xNAV addresses, internet resources, etc.

How to upgrade

Download the pre-built binaries for your operating system from our Github releases page and proceed as normal. No extra actions are required.

You can verify the integrity of the binaries by verifying the Gitian signatures available here against the public key 2782262BF6E7FADB (keys.gnupg.net) or by checking the SHA256SUM of the distributed packages against the one we’ve published in our Github releases page.

If you wish to build from source, you can find thefull details within our documentation site.

When do I need to upgrade? Is it mandatory?

We recommend everyone to upgrade as soon as possible and participate in the voting to decide for the activation of the new protocol rules. The votings will start today, November 24th. Once a majority of 75% of the staked blocks signal a positive vote for any of the protocol upgrade proposals, during a period of 20160 blocks, such upgrade will get locked in. When reaching such state, every node MUST upgrade to NavCoin Core 7.0.

20160 blocks after the block where any upgrade is locked in, the new protocol will come into effect and every node running an older version will stop staking and accepting new blocks. Nodes upgraded which voted no for any activated change, will still continue to function normally and accept the new consensus rules.

In no case will the activation happen prior to the 15th of December. The concrete date will depend on how fast the network upgrades and the count of positive votes each of the changes is able to get. Once a new consensus rule gets locked in, we will announce it through our communication channels.

How can I vote for the new protocol rules?

Navcoin Core 7.0 will vote ‘YES’ by default to all the different upgrades. If you wish to change your vote for any of the proposals, you will be able to do it introducing the following entries in your navcoin.conf file:

For voting ‘NO’ to xNAV upgrades for Navcoin Core 7.0.0:

rejectversionbit=33

For voting ‘NO’ to dotNAV:

rejectversionbit=34

For voting ‘NO’ to Burn transaction fees:

rejectversionbit=9

For voting ‘NO’ to Super Proposals:

rejectversionbit=11

Do I need to set up anything different if I’m an exchange operator?

Please add the following options in your navcoin.conf file:

excludevote=1

blsctmix=0

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