whats the difference between namecoin and bitcoin

[perfectchoice4u]

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

[1714684602]

1714684602

[1714684602]

1714684602

[1714684602]

1714684602

[1714684602]

1714684602

[drknark]

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.

[Poortorich2018]

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"