Hi Everyone. We are making good progress on our end. We are currently testing the anonymous transactions using the new block chain and everything is looking good so far!
When we complete this step, we will be able to supply the new code base to Bittrex and initiate the coin swap. I would expect that we can begin the coin swap this week coming as previously stated.
We are also in the process of distributing articles about Nav and the coin swap to various crypto news outlets to make sure we give everyone the best chance of hearing about the swap and swapping their coins as well as pushing the public profile of Nav!
Bittrex have supplied us further information about how the swap will take place. It is very simple from your perspective.
All you need to do is to send your Nav to Bittrex before the end date of the swap.
At the end date all Nav wallets will be put into maintenance mode, meaning there will be no trading, depositing or withdrawing. We will then send Bittrex the balance of new Nav coin equal to the amount which everyone has deposited. They will decommission your old Nav addresses and link your current balance to the new block chain with all the new coins we have loaded ready for withdrawal. When the Nav wallet comes out of maintenance mode you are then free to resume trading or withdraw your coins to the new wallet.
We will make the new wallet available to the public before the end of the coin swap date so that everyone is prepared to withdraw their coins.
Bittrex have performed many of these coin swaps in the past and have had no previous issues. They are a very reliable exchange which has never had any problems with hacks or other suspicious behaviour from its operators. We trust that Bittrex will perform this swap in a swift, reliable and professional manner.
We strongly recommend that everyone use Bittrex as the swap mechanism. Manual swaps after the end of the Bittrex coin swap are possible but it does take us a reasonable amount of effort per swap and I'm sure you would rather we are busy working on new Nav features like the mobile wallet rather than being flooded with coin swaps to perform.
I will post again soon when we have sent the source code to Bittrex and agreed on a date for the coin swap to occur.
I am very excited to get this under way, the new wallet is awesome!
Regards,
Craig.