This week has seen the successful rollout of the new NavTech Subchain, and the Encrypt-S NavTech servers are back online. The Coinomi wallet has been updated, and there are some new services that have integrated with NavCoin.
NavTech Subchain Upgrade Success
The NavTech Subchain – the second blockchain which powers NavCoin’s private payments – has been upgraded and deployed. The Subchain’s source code is now aligned with version 4.1.0 of NavCoin Core and has inherited all best parts of NavCoin.
The old Subchain was hitting its technological limits, especially as the NavCoin Core developers look to deploy more advanced applications like NavMorph, which require similar infrastructure, and integration with NavTech.
The Subchain Upgrade has enabled NavTech to halve the processing cycle time, which doubles throughput and reduces transaction fulfilment time. The NavTech fee has been lowered from 0.5% to 0.1% making it cheaper to send private payments. The RSA encryption strength used to store data on the Subchain has been increased to 2048 bit encryption – it is calculated to take a desktop computer over 6.4 quadrillion years to crack a single key (source).
The NavCoin Core developers are also working to decrease the minimum NAV required as an input to a private payment which is currently approximately five NAV (depending on how the transactions are randomized). NavTech can handle values lower than five NAV, but the wallets require some modification to do so.
The upgrade itself went smoothly and NavTech private payments are processing without a hitch from the NavCoin Core and NavPay wallets.
Coinomi Wallet Update
We’re pleased to let you know that NavCoin is back up and running in the Coinomi wallet (as of v1.7.11). You can once again access, spend and exchange your NAV within Coinomi. The NavCoin Core developers have been working closely with the Coinomi team to resolve the issue originating from our December hardfork and their efforts and everyone’s patience is appreciated.
NavPay iOS approval
Just as an update – the process of getting NavCoin approved by the iOS store is still underway.
NavCoin Core developers have talked to Apple’s team by phone about NavPay’s application, and their questions/concerns were minimal. Final approval is still pending and unfortunately Apple haven’t indicated a time when they will move the application forward.
New Listings For NavCoin
Godex is an instant crypto to crypto exchange and has listed NAV as one of their currencies. They charge 0.5% for the transaction, have no limits/maximums, and have over one hundred currencies to swap between. Check them out here: https://godex.io/
NAV has also been integrated into Vaulty.io which is a free tool that helps you accept payments in crypto. Just select the cryptocurrencies you would like to support, and it creates a unique URL for you to send users to. Check out this article for more information: https://hackernoon.com/introducing-vaulty-io-e683aea93c89
NAV was ranked in the top 50 on Crypto Miso, which is a website that ranks cryptocurrencies based on Github activity.
Note: With all third-party services, please do your due diligence, be careful with sending large amounts of crypto, and don’t blindly trust anyone. While the NavCoin Core team will alert the community to new services that support NAV, please don’t take that as an endorsement.
That’s all for this week.
NavCoin Core team