NavCoin is a decentralized cryptocurrency that uses peer-to-peer in order to operate. It is open-source and anyone can participate. The block time is 30 seconds and uses Proof of Stake as its consensus mechanism. In the future, they will be implementing Lightning Network which will allow cross-chain atomic swaps with supported currencies. Navcoin was built on the framework that “when people are free to act in their own best interests, they naturally work in the best interests of society also.”
NavCoin allows anyone to submit an improvement they would like to see. The investors staking NavCoin can then vote yes/no for that proposal. In order to be accepted, at least 50% of those staking must vote and of that 50%, 75% must vote yes. This incentivizes investors to vote in the direction they want to see. Once accepted, the payments are distributed to the project. Every year 250,000 NAV are accumulated into the Fund. There is a 20,000 NAV Bug Bounty to anyone who can hack the fund. No one has direct access to the fund or the ability to change how it is distributed. The only way NAV can be spent out of the fund is by the voting mechanism. To read more technical details click here.
NavCoin is currently being traded on Binance, Bittrex, Poloniex, Cryptopia, LiteBit, YoBit, and Upbit. Back in January 2018 it reached a high of about $4.60 and is currently trading around $.35 (at time of writing).