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Author Topic: whats the difference between namecoin and bitcoin  (Read 2605 times)
perfectchoice4u
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June 17, 2011, 03:30:39 PM
 #1

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
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June 17, 2011, 05:28:12 PM
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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). 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.
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