So I spent a portion of the weekend really digging into the namecoin code and concepts. And the short take away was that I’m stunned that it hasn’t taken off more and have a bigger following. Now I understand lots of people are in crypto just for a quick buck, but I’m more of a person who is fascinated with the blockchain and what this type of technology means for our global future. And that’s why I was fascinated with Namecoin.
Backdrop for those who are unfamiliar with Namecoin (NMC)
- Namecoin was really the FIRST altcoin forked off of Bitcoin http://namecoin.info/
- The goal was to build a decentralized information registry service
- It was built to transfer arbitrary keys and values and timestamp them into the blockchain
- You are able to register .bit domain names (Either takes setting your DNS to http://www.opennicproject.org or using a combination of proxies/custom solutions)
- You can store identity information into the blockchain
- You can have notary services built into a transaction
Other Pieces of Information
- https://bit.namecoin.info/ Provides information on how to use .bit domain names
- In fact you can register .bit domains here https://getdotbit.com
- NameID (https://nameid.org/) opens the door to information/identity security
I understand most of the current implementations are extremely GEEKY and not very user friendly and this is probably the chief reason Namecoin and its ideas haven’t taken off but its really encouraging to see a coin built around what the blockchain can offer and support.
Thoughts? What are other people’s experience with Namecoin?