NavCoin NAV to OriginTrail TRAC Exchange

Crypto Pair Details: NAV to TRAC

NavCoin NAV

NavCoin is a decentralized cryptocurrency that uses the peer-to-peer blockchain technology to operate with no central authority managing its transactions. The issuance of NavCoin is carried out collectively by the network of miners and joint development by the NavCoin commmunity. The project is open-source and decentralized. Nobody owns or have complete controls over the cryptocurrency. The NavCoin project is open source and available for everyone to take part. NavCoin was known as Navajo Coin, which was rebranding from SummerCoinv2. NavCoin is cryptocurrency designed to be anonymous and simple to use. Established in 2014, it belongs to an older class of cryptocurrencies that came before the current wave of ICOs. NavCoin has stood the test of time well. Over the past four years it has implemented various upgrades, features, and improvements. The team is dedicated and knowledgeable, and as a result the platform has seen consistent growth. However, NavCoin has not seen the kind of growth that the other competitors in the race to be the top privacy coin have seen. Dash, Zcash, and Monero have all outstripped NavCoin in terms of adoption and funding. Recently, the project has seen a comeback, as they’ve begun to emphasize design, usability, and experience. NavCoin wants to make it simple and fast to use private transactions. Since the early days, one of NavCoin’s strong suits has been its fast transaction times. NavCoin sees block confirmations every thirty seconds as opposed to Bitcoin’s ten minutes. This is faster than Monero (2 minutes) and Zcash (2.5 minutes). Dash also averages about 2.5 minute block times, but its masternodes make it possible to send instant transactions. That said, NavCoin has the fastest standard block time of any privacy coin. These fast transactions aren’t expensive either. Where currencies like Bitcoin and Ethereum are having trouble with high miner fees, NavCoin keeps its transaction costs low. The average fee is only 0.0001 NAV to send a standard transaction. Private, encrypted transactions can be more expensive. While most other cryptocurrencies implement some form of proof of work mining, NavCoin was among the first to implement proof of stake. Proof of stake relies on users putting up a portion of their NAV holdings in order to gain an opportunity to create a new block. If the network ratifies the new block you created, you’ll receive an award. If your block is bad or contains fraudulent transactions, the proof of work algorithm takes away all the coins you staked. This incentivizes honest block creation. With NavCoin, it’s possible to earn a 5% interest from staking your NAV. In order to do so, however, you’ll need to operate a staking node on the network. You can do this on your computer by downloading the NavCoin Core client and setting the amount of NAV you want to stake. The team behind NavCoin and Valence is Encrypt S Ltd. However, it’s an open source project. As such, they’ve built up a big community following, and anyone can contribute. NavCoin features a very active development team. New updates come out regularly, usually every week. The Lead Engineer is Crag MacGregor. He is also CEO of Encrypt S Ltd. They’re the blockchain development company behind the NavCoin project. He’s from New Zealand. Nav is also one of the most beautiful, easily understood coins out there. This is in large part thanks to their marketing and creative team. NavCoin’s focus on style, branding, and communication sets them apart in blockchain space. Usability is important for adoption of any early-stage project, and it’s nice to see NavCoin taking this element of the platform seriously. Check out CoinBureau for the full review of NavCoin.

OriginTrail TRAC

OriginTrail provides a helpful protocol solution to the problem of maintaining trust among all players involved in bringing a product to market by making the “chain” in “supply chain” more literal. Using blockchain technology, OriginTrail can append immutable data to products as they take each step along the supply route. Thus, each participant not only verifies that their conditions are being met but that at every previous stage, the right conditions were also met by everyone else. This is achieved by making an application layer that allows data to be collected in the real world, and then stored on the blockchain. OriginTrail started out by testing their tracking with organic beef products in 2014, and they are still mostly involved in the tracking of food products in general. It wasn’t until 2016 that they introduced a blockchain into their system. In January 2018, they raised US$22.5 million in their ICO. Since their ICO they’ve successfully launched their testnet, implemented privacy features, and achieved compliance with the GS1 standards that are integral to their business model. Their roadmap is robust and full of details, citing certifications with international bodies, alliances with companies, and entering new markets. Their mainnet is scheduled for launch in Q3 2018, and thereafter they appear to be on track to having all their services fully operational by 2020. OriginTrail is not the first or only company to recognize that supply chains could benefit a great deal from blockchain technology. Ambrosus is also going for the same market, though they seem to be focused on food and pharmaceuticals specifically. It should be noted that most supply chains have their own specific quirks, and so specialization might be be a good option. Another potential competitor of OriginTrail is Waltonchain, a company based in China that puts heavy emphasis on RFID chip scanning as part of their business model. In other words, where OriginTrail wants to leverage existing systems for their infrastructure, Waltonchain wants to try and establish new standards and methods. OriginTrail’s token is called TRAC, and it’s an ERC-20 token, making it storable on any ERC-20 compatible wallet. The total supply is capped at 500 million tokens. The value in TRACE tokens comes from their utility on the OriginTrail network. Tokens are spent to store, retrieve, and send data about supply chains. Since TRACE can be bought and sold in a speculative market, that creates the potential for the price to go up, which would be counter to the needs of people on the network looking for stable prices for setting and getting data. However, prices for data saving and retrieval will be determined by auction, which should counter increasing token value for those using OriginTrail as a service. The Internet of Things is a topic that gets a lot of press, and the general consensus is that it will be standard practice in the future for almost everything in the world to be tracked and traced for a wide variety of purposes. OriginTrail is one company that is demonstrating a concrete plan for exactly how that will be manifest. There really isn’t much to criticize in terms of the overall intention of the project. OriginTrail has identified a weak point in the very important world of supply chain management, that of reliable transfer of information all the way up and down the chain, and aims to provide a workable and clearly understood solution.

SOURCE: COINGECKO

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