Bitcoin Press Release: In late July, the Nav team announced that their Electrum Mobile Wallet had gone live. This news came off the back of a successful coin swap, giving Nav Coin a modern code base that is a platform for a huge range of possible new features. One feature already released since the upgrade is the POS (proof of stake) web wallet, available at poswallet.com.
NAV is starting to gain serious interest from investors, with a price increase following each new feature release.
This interest is driven by Nav Coin’s place at the cutting edge of crypto technology. Their release of the world’s first mobile wallet for an X13 coin marks their second groundbreaking advance in the crypto world – their first being development of the world’s first fully anonymous cryptocurrency. This full anonymity is made possible by an Anonymous Transaction Network, which runs using a private subchain.
The new mobile wallet uses its own custom version of Electrum, which the Nav team have open-sourced on their GitHub account.
The team behind Nav Coin, a proof of stake currency, like to keep things light and user-friendly, and this is their reasoning behind building a mobile wallet using their own custom version of Electrum.
They said: “We chose to use an Electrum-based wallet because of their extraordinary lightweight technology. No one wants to carry the blockchain around on their phone, and we love Electrum’s light chain.”
We chose to use an Electrum-based wallet because of their extraordinary lightweight technology. No one wants to carry the blockchain around on their phone, and we love Electrum’s light chain.
Rather than relying on full download of the blockchain, the light chain carries out time-lapsed check-ins of the headings.
A number of other features of the mobile wallet were discussed in the team’s latest announcement. An excerpt follows.
“It has improved battery and data usage because of its light chain (the data use is near zero). It is always on and ready to use, as there’s no need for the blockchain to catch up. The entire wallet takes up only 6MB of space, which is 1% of what other wallets use. It is ridiculously secure; all the keys are stored on, and never leave your device, and your wallet can be encrypted with a password to prevent malware and theft. You also won’t need to stress if you lose your device, as the mobile wallet has an easy backup, allowing you to retrieve your coins with a simple twelve-word mnemonic.
The wallet has the capability to store and exchange between Bitcoin and Litecoin using shapeshift.io. Following the addition of Nav Coin to Shapeshift, users will be able to exchange from BTC or LTC to NAV directly within the wallet, without having to sign up to an exchange.
The other thing we really like about our new mobile wallet is its capacity for growth. Our open source code will be available on GitHub, so users can build and add their own features, or even fork it for use with any other X13 coin!”
To build interest even further, Nav Coin developer Craig Macgregor ran a Twitter promotion offering shares of 100,000 Nav Coins to early wallet downloaders, with the first 1,000 users each winning a stake of 100 Navs. This caused a flurry of downloads and an instant Twitter craze among cryptocurrency users.
Given the hype surrounding Nav Coin’s latest developments, and the fact that that hype is so well backed up by credible and exciting technology, many onlookers and crypto enthusiasts are realizing that both the coin and its innovative mobile wallet may be a sensible and sound investment.
The future’s looking bright for Nav and its investors. This wallet is just the latest in a long list of anticipated new features, which include: an iOS version of the mobile wallet; a thin client for desktop; a raspberry pi staking unit; and the highly anticipated decentralization of the anonymous network.
Their sights are also set on what they plan to be their third groundbreaking advance in the crypto world: ANONYMOUS TRANSACTIONS FROM A MOBILE WALLET.