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Namecoin Price Today in US Dollars

The Kitco Namecoin price Index provides the latest Namecoin price in US Dollars using an average from the world's leading exchanges.

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Namecoin Basics

WHAT IS NAMECOIN?

Namecoin is an experimental open-source technology which improves decentralization, security, censorship resistance, privacy, and speed of certain components of the Internet infrastructure such as DNS and identities.

WHAT CAN NAMECOIN BE USED FOR?

Namecoin protects free-speech rights online by making the web more resistant to censorship. It also attaches identity information (such as email, Bitcoin and Bitmessage addresses) to an identity of your choice. It also proposed ideas such as file signatures, voting, bonds/stocks/shares, web of trust, notary services, and proof of existence.

HOW DOES NAMECOIN COMPARE TO BITCOIN?

Namecoin was the first fork of Bitcoin, and is still considered to be one of the most innovative ‘altcoins’. It was the first to implement merged mining and a decentralized DNS.

WHAT ARE ALTCOINS?

The term ‘altcoins’ is short for alternative coins. Given that Bitcoin was the first cryptocurrency to surface in the market, the other digital currencies that emerged are referred to as altcoins.

WHAT IS BLOCKCHAIN?

A blockchain is a digital ledger recording cryptocurrency transactions, maintaining records referred to as ‘blocks’ in a linear, chronological order.

WHY USE A BLOCKCHAIN?

Using a blockchain ensures security and manages digital relationships as part of a system of record.

WHAT IS DISTRIBUTED LEDGER?

A distributed ledger is a database, digitally recording transaction information using cryptography, making it secure and unforgeable.

WHAT IS THE DIFFERENCE BETWEEN A BLOCKCHAIN AND A DATABASE?

There are several differences between a blockchain and a database, including the level of control. Blockchains are under a decentralized control, whereas a centralized database creates a dependent relationship between users and administrators. Users tend to prefer confidentiality, which is better achieved through a centralized database. Performance also differs, as a centralized database is able to compute information faster than blockchains.