- Zahingir Alam Last Update: March 31, 2017

Namecoin  is specially a cryptocurrencie service like Bitcoin, Dogcoin etc . But bit coin has a different method like it decide and it work with DNS system or domain system.Namecoin is divisible down to 8 decimal places.Namecoin currently uses the .bit domain. Dot bit domains are not currently awarded, hence to resolve domain names, one must have either a copy of the Namecoin “block chain” , or access to a public DNS server that participates in the Namecoin system.Namecoin uses modified Bitcoin software, and like Bitcoin there is a limit of 21 million Namecoins.

 

 

Merged Mining & Addresses-
Namecoin use peer to peer system to handle their network. Indeed, proofs of work for Namecoin are valid proof—of-work for Bitcoin and miners can mine both currencies at the same time,a practice known as merged mining. Virtually all Bitcoin miners merge-mine Namecoin as well.Proposed potential uses for Namecoin besides domain name registration include:Identity systems, Messaging systems, Personal namespaces, Notary or timestamp systems , Alias systems.Payments in Namecoin are made to addresses (based on digital signatures). Addresses are human readable strings of 33 numbers beginning with the letters N or M .This makes Namecoin pseudonymous, but not anonymous.

 

What Is Namecoin?-

Visit – Namecoin

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