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Title: whats the difference between namecoin and bitcoin Post by: perfectchoice4u on June 17, 2011, 03:30:39 PM Ive been reading a lot of posts and im seeing some different stuff on namecoins, what is this a new form of bitcoins? Sorry for the dumb questions, this is all new to me.
I'm starting mining and some different bitcoin related projects, and cant wait to be a more active member of the forum. Theres a pretty steep learning curve, but im doing the best i can with it. Some of the stuffs a bit too technical for me, and so i feel I've got a lot of really dumb questions that I even sometimes see answers for on the forums, but that dont make sense to me. Anyways, thanks Title: Re: whats the difference between namecoin and bitcoin Post by: drknark on June 17, 2011, 05:28:12 PM Bitcoin was designed to be a currency.
The idea with the namecoin variation is that it is supposed be a decentralized DNS (http://en.wikipedia.org/wiki/Domain_Name_System (http://en.wikipedia.org/wiki/Domain_Name_System)). You can use namecoins (by paying a fee to the network) to register .bit domains. Currently one needs to use a special DNS server to resolve .bit. Namecoins can be mined in the same way as bitcoins. Namecoins can be traded for bitcoins at https://exchange.bitparking.com/main (https://exchange.bitparking.com/main). Title: Re: whats the difference between namecoin and bitcoin Post by: Poortorich2018 on May 14, 2018, 03:20:22 PM Namecoin is a cryptocurrency that is mined with bitcoin software as bonus. It is based on the code of bitcoin and uses the same proof-of-work algorithm. Like bitcoin, it is limited to 21 million coins.
ˈbitˌkoin/Submit noun a type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. "bitcoin has become a hot commodity among speculators" a unit of bitcoin. "bitcoins can be used for online transactions between individuals" |