Question 1

Has the Price of Namecoin (NMC) Increased or Decreased Today?

Accepted Answer

As of today, the price of Namecoin (NMC) is around LTC 0.01567131, showing a -0.01%, which means it has decreased in the last 24 hours.

Question 2

What Is Namecoin (NMC)?

Accepted Answer

Namecoin is a unique cryptocurrency that functions as a domain name registry service. It was the first coin to fork from Bitcoin. Unlike typical domain registrations such as .com or .io, Namecoin allows you to register a .bit domain on its network. The main point of divergence is that .bit domains are resistant to censorship and less susceptible to activity tracking, due to the decentralized nature of the blockchain technology that underpins Namecoin.

Question 3

Who Created Namecoin?

Accepted Answer

Namecoin was brought to life in 2011 by a pseudo-anonymous founder known only as “Vince”. After Vince's disappearance, a core development team has been diligently maintaining and updating the project.

Question 4

How Does Namecoin Work?

Accepted Answer

Namecoin was the first cryptocurrency to implement Auxiliary Proof of Work (AuxPoW) as a consensus mechanism. This unique method allows Namecoin and Bitcoin to be mined at the same time. In simple terms, if a new block is created on the Bitcoin blockchain, the same block will be added to the Namecoin blockchain. This feature effectively makes Namecoin a \"child\" blockchain that relies on the \"parent\" Bitcoin blockchain's proof-of-work.

Question 5

What Makes Namecoin Unique?

Accepted Answer

Namecoin introduced NameID, a technology that provides an open service to securely register human-readable names in a decentralized manner. NameID is a merger of Namecoin and OpenId, essentially allowing users to convert their Namecoin identities into OpenIDs. This gives NameID a unique solution to Zooko's triangle, a concept that states that name participants in a network protocol can only have two out of three desirable properties at any given time - being Human-meaningful, Decentralized, and Secure.

Question 6

How Has Namecoin Performed Over the Years?

Accepted Answer

Namecoin is one of the earliest cryptocurrencies, and over its lifespan in the market, it has exhibited high volatility at times due to various factors. Although it was among the top ten cryptocurrencies in terms of market capitalization in 2014, this ranking has since fallen due to the entrance of numerous new cryptocurrencies into the scene.

Question 7

Who Is Developing Namecoin Now?

Accepted Answer

Although Namecoin was abandoned by its original creator, the community driven project is currently being developed and consistently updated by a core team. This team provides regular updates via the official project's social media channels.

Question 8

What Is the Total Supply of Namecoin?

Accepted Answer

Namecoin has a circulating supply of around  and a total supply of 21.0M.

Question 9

Where Can I Buy or Trade Namecoin (NMC)?

Accepted Answer

Namecoin (NMC) can be purchased and traded on the following exchanges: CoinEx, YoBit. It is always critical to ensure you are using trusted platforms when dealing with cryptocurrencies to prevent losing your investments.

Convert NMC to LTC

Try our Crypto Pro app