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15891020 No.15891020 [Reply] [Original]

What the fuck is namecoin and why is it’s hashrate so high.

>> No.15891059

It's a decentralized domain name service based on bitcoin. It has been around since 2011

>> No.15891067

>>15891020
just some "on a mission to decentralize the world!" blah blah, seems to be just as old as bitcoin

https://www.namecoin.org/docs/faq/

>> No.15891094

>>15891020
it's an ancient altcoin that is merge mineable with bitcoin and is still mined by a lot of the bitcoin miners. maybe someone else could explain the technical background of its original intent better but I think it was supposed to be used to pay for web hosting using its own tld, but it never really took off for a number of reasons.

>> No.15891096

Old project, even older developers. I think the one of the devs said he didn't hodl his bitcoin. Remember kids, always hodl.

>> No.15891110

Yea it looks like a cool idea. Decentralized websites you can’t censor. Why is the hashrate so high? Mining profitability? Or does their has work in a different way to support their decentralized websites?

>> No.15891152

>>15891020
Lmao newfag

>> No.15891157

>>15891094
Interesting, that’s what I gathered but wasn’t sure.

>> No.15891164

>>15891096
kys

>> No.15891217
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15891217

>>15891164

>> No.15891238 [DELETED] 

Namecoin never got any traction. The the top level domain .bit was never officially launched. In order to access sites, you have to download the whole blockchain and mount a local DNS server. The project is pretty much dead.

I believe it could be revitalized with enough interest, though. Browser plugins and a update allowing them to retrieve sites directly from nodes would let regular users access namecoin websites without downloading anything. Would be pretty cool.

>> No.15891250 [DELETED] 

Namecoin never got any traction. The the top level domain .bit was never officially launched. In order to access sites, you have to download the whole blockchain and mount a local DNS server. The project is pretty much dead.

I believe it could be revitalized with enough interest, though. Browser plugins and (possibly) an update allowing them to retrieve DNS info directly from nodes would let regular users access namecoin websites without downloading anything. Would be pretty cool.

>> No.15891576

>>15891110
you mine it for free when you mine bitcoin

>> No.15892041

It's going to BTFO Blackcoin and Peercoin