NAV coin, which holds the auspicious title of the world’s first fully anonymous cryptocurrency, announced a coin swap that comes with a list of game changing improvements for the coin. The news has lead to an ongoing price surge.

NAV coin swap to set off a chain of game changing improvements.

“The goal of the NAV coin swap is to improve the performance of NAV for it’s investors and give us the code base to launch NAV into a strong future. Our future will be development heavy; we pride NAV on being a tech strong coin and we like keep on the cutting edge of altcion technology – after all we are nerds.”

- NAV Development Team

Updates for the new NAV coin wallet

The freshly skinned NAV wallet in trademark colors blue and purple is not just a pretty face. The New NAV wallet includes:

  • The capability to connect to Bittrex with API keys to trade NAV directly from within the wallet.
  • Encrypted private messaging from wallet to wallet.
  • The ability to look up transactions from directly within the wallet.

The direct connection with bittrex surely looks pretty smooth. You can see the current market orders, place and cancel orders as well as see your trade history.

Top on the list is Bip 32 - Hierarchical deterministic wallets.

Bip 32 is considered one of the key updates in moving crypto currencies forward into a modern user-friendly place. It is the capability to generate wallet addressed from a single private seed, which allows the user to regenerate key pairs from the seed if the wallet is lost. Thus back up frequency is reduced. This wallet generation method is compliant with web & mobile wallet standards.

The NAV team has indicated the a mobile and web wallet build is high on their list of priorities.

Bip 38 - passphrase protected private key.

Bip 38 - is the capability to encrypt and encode a passphrase protected private key; typically intended for use on paper wallets and physical coins. Users will now have the option of passphrase encrypted secure offline storage.

Bip 100 - floating block size hard unit.

Bip 100 - increase the maximum block size to 20MB, and the maximum size for mined blocks to 10MB.  The Block size will be dynamic and change in response to the volume of transactions. This future proofs the coin to be capable of handling all the perceived future transaction volumes.

A full list of updates and future projects can be found here.

Reception

NAV Coin Development Team announced their coin swap on the 14th of April on the NAV bitcointalk.org forum. Instantly causing a stir amongst altcoin investors. The price has since more than doubled as has the trading volume. If the market statistics from the last time NAV introduced major improvements, we can expect large upward trend over the coming weeks.

“We’re very happy to giving back to our investors and NAV traders, “ says NAV Coin developer Craig MacGregor.

The team have also expressed to the forum their intention to follow up the coin swap improvements with software downloads for a raspberry pi staking unit, as well as what will be the worlds first fully anonymous mobile wallet (from the biip32). This extra layer of improvements is being dubbed by the community as ‘NAV 2.1’.

The coin swap will be handled by trusted exchange Bittrex who have already handled multiple coin swaps in the past.

The coin swap date is set for 31st May. To swap your coins, send them to your Bittrex account anytime between now and 31 May 2016 and they will be automatically switched to the new coins on 31 May.

All current investors are advised to send their coins to Bittrex before that day.

Despite the effort connected to the swap procedure NAV investors seem happy to do so in the face of rising value of their investment.

You can become NAV Coin investor by trading NAV on one of these exchanges: Bittrex and Poloniex.