testing of the claims process for the Community Fund is largely
completed and the final pieces of this puzzle are falling into place for
the fund’s launch on the mainnet. There’s still a few things the Core
Team and community are working on to line up for the launch and also set
up for future development of the NavCoin protocol.
NavCoin Core are working with Prodpeak from NavExplorer.com
to build the tools necessary to create, browse and vote on proposals.
NavCoin Core are working on a full redesign of the NavCoin.org website
which will better explain NavCoin’s eco-system and how to get involved
in the Community Fund. We’re also launching a separate website which
will be a collaborative workspace for teams working on proposals. We are
aiming to get these last pieces ready within the next 4 weeks to
coincide with the mainnet launch of the Community Fund claims mechanism.
Content Team are also shooting a video to promote the Community Fund in
early October which we hope to have released soon after the launch of
the Community Fund on the mainnet.
quite a lot going on, so I want to talk through our plans for the next
few releases of NavCoin Core so you can understand what is happening
when and how it fits into the mid-term game plan.
NavCoin Core 4.4.0 — Community Fund
4.4.0 is planned to contain 3 soft forks which can be individually
signalled but will be automatically signalling yes in the new version.
We are expecting to publish v4.4.0 about 4 weeks from now.
Version Bit 6
This version bit signals for the soft fork to activate the claims mechanism for the Community Fund. You can read more about the NavCoin Community Fund on the NavCoin website.
Version Bit 14
version bit signals for the soft fork to activate NPIP0003. This is
largely a technical improvement which consolidates mined Community Fund
contributions to every 500th block instead of every block to reduce
blockchain bloat. You can read more about NPIP0003 on the NPIP GitHub.
Version Bit 16
version bit signals for the soft fork to increase the Community Fund
contribution from 0.25 NAV to 0.50 NAV per block. The reason why we’re
proposing to increase the Community Fund to 0.50 NAV is partly due to
the current price of NAV being quite low and secondly to retain the
80:20 ratio we originally intended with the fund when after NPIP0004
switches mining to a static block reward of 2 NAV per block. You can read more about NPIP0004 on my Reddit post.
a fixed block reward of 2 NAV and 0.5 NAV to the Community Fund,
overall inflation will be around 4.17% per annum and exponentially
deflating. Mining rewards would be as high as 10.5% per annum with the
current network weight but will more realistically be around 5% once
more miners start up.
think it’s best to bundle these three soft forks together into a single
wallet version since they are all to do with the Community Fund. We
also don’t want to release soft forks too frequently because they become
mandatory updates once locked in.
you disagree with all of these, simply don’t upgrade to 4.4.0, or if
you disagree with one of these proposals you are able to turn off the
particular version bit you disagree with.
NavCoin Core 4.5.0 — PoSv3
4.5.0 is planned to contain 2 soft forks which again can be
individually signalled but will be automatically signalling yes in the
new version. We are expecting to publish v4.5.0 about 4 weeks after
v4.4.0 is published.
are conscious of trying to find a balance between having too many
consensus changes voted on simultaneously and releasing too many wallet
versions for people to keep up with. We are hoping 4 weeks between these
version gives everyone enough time to be informed and update.
Version Bit 15
version bit signals for the soft fork to activate NPIP0004. This change
will modify the staking mechanism for NavCoin to be a static reward of 2
NAV per block instead of a percentage based on coinage. You can read
more about NPIP0004 on the NPIP GitHub or further discussion and rationale is posted to this reddit thread.
Version Bit 4
version bit signals for the soft fork to activate NPIP0002. This change
will allow for Cold Staking addresses to be created and for seperate
spending and staking keys to be used on hot or cold wallets. You can
read more about NPIP0002 on the NPIP GitHub.
These two soft forks will bring NavCoin’s consensus protocol to be inline with the PoSv3 spec as outlined by Blackcoin. It makes sense to group these two consensus updates together.
you can choose to (or not) support any or all of these by signalling
yes or no on the correct version bit once NavCoin Core v4.5.0 is
NavCoin Core 5.0.0 — Privacy Upgrade
the Community Fund development finished, the main protocol development
focus of the NavCoin Core developers will be on upgrading NavCoin’s
privacy capabilities. Alex posted about this on Reddit a couple of days ago, so head over there if you want to join the discussion.
previous privacy solution NavTech was an innovative solution when it
was released in 2015, but there have been many innovations in private
transactions since then. Instead of sinking time into solving some of
the inherent issues which NavTech faces, the NavCoin Core developers
have planned a solution to bring the privacy on-chain to make it
trustless, decentralised and without reliance on a third party.
always, we are committed to being innovators in the cryptocurrency
space and our solution is not simply copying and pasting some lines of
code from another project. We have taken the time to survey the privacy
space, sort the good from the bad and come forward with our own solution
that uses tried and tested fundamentals but is unique, innovative all
while still being simple to use.
details about NavCoin’s new privacy solution will be released when we
get closer to releasing the alpha build on the testnet. Integrating the
new features and thoroughly testing it will require some effort, it
might take us a couple of months at least to get the alpha ready.
Privacy is one of the core principals of NavCoin’s manifesto and the
Core Team will be dedicating our efforts to making NavCoin’s privacy
thing to note is that the privacy solution we’ve designed has a
prerequisite that NavCoin’s consensus protocol is PoSv3 compliant. So
it’s important to make these changes in the correct order so they can
all be smoothly deployed when ready.
the new privacy solution is deployed, the NavCoin Core team will be
focused on continuing the Kauri Wallet build which will then unlock a
lot of the roadmap’s upcoming projects for development like the Kauri DAEx and NavMorph. It will also allow us the space to commence work on the Alpha build of the Valence Platform.
the community fund active we also hope to see a lot more projects from
other dev teams and community members get added to the community roadmap
in the near future.
Personally I’m excited to see what plays out over the next months as all the community’s hard work comes to fruition.
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