Created in 2013
every 10 minutes
500 kB - 1 MB. (lower than Bitcoin’s)
SPV backed by PoW (e.g. BitcoinJ+libdohj)
Namecoin is a cryptocurrency that was created in 2011 by an anonymous developer. It is based on the Bitcoin codebase and operates on a decentralized blockchain network. The main purpose of Namecoin is to provide a decentralized domain name system (DNS) that is resistant to censorship and domain hijacking. One unique feature of Namecoin is its halving mechanism, which occurs every 210,000 blocks. This means that the block reward for miners is reduced by half, which helps to control inflation and ensure the long-term sustainability of the network. In addition to its use as a currency, Namecoin has also been used to create non-fungible tokens (NFTs). These tokens are unique digital assets that can be used to represent ownership of a variety of different things, such as artwork, music, or even virtual real estate. Despite its relatively low profile, Namecoin has attracted a small but dedicated community of users and developers. Its founder, who goes by the pseudonym "Vinced," remains active in the community and continues to work on improving the network. Overall, Namecoin represents an interesting and innovative approach to decentralized DNS and digital asset ownership. While it may not be as well-known as some other cryptocurrencies, it is certainly worth keeping an eye on for those interested in the broader blockchain ecosystem.
Namecoin staking is a process that allows users to earn rewards by holding and validating transactions on the Namecoin blockchain. This is done by locking up a certain amount of Namecoin in a staking wallet, which then participates in the consensus process and helps to secure the network. Staking rewards are distributed to users based on the amount of Namecoin they have staked and the length of time they have been staking. This incentivizes users to hold onto their coins and contribute to the network, which helps to increase its security and reliability. To get started with Namecoin staking, users need to download a staking wallet and transfer their coins into it. They can then begin staking by selecting the option to participate in the consensus process. It is important to note that staking does involve some risk, as users may lose their staked coins if they fail to maintain a consistent connection to the network or if they are found to be engaging in malicious behavior. Overall, Namecoin staking is a great way for users to earn rewards while contributing to the security and reliability of the Namecoin network. By holding and validating transactions, users can help to ensure that the network remains decentralized and resistant to attacks.
Current Namecoin price is
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