[announce] Namecoin - a distributed naming system based on Bitcoin

[domob]

Probably a little bit of a dumb question, .. But I was wondering why the domain names have to expire 12,000 blocks?
One of the biggest areas of future development and use case scenarios, seems to be that of the open transaction style issuance of stock, bond or for that matter any form of digital unique certificate and tracking of their ownership. At first glance this seems ideally suited to Namecoin, but obviously this breaks down if the certificate expires after a ~ 1year rather than being transferred indefinitely.

Names expire so that a) they can't become permanently unavailable if someone dies or loses their keys, and b) at least some fee is required to keep hold of names, so that people are incentivised to not squat and let go of names they do not intend to ever use (whether the fee is large enough is arguable, though).

Just updating a name every 36k blocks is enough to stop it from expiring, though, so I don't really see how that prevents stocks/bonds to be issued on Namecoin.

[1656761457]

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[TheCrimsonFucker]

Something tells me that soon good things will happen to NMC!
It's impossible for a coin of this magnitude to be below countless useless tokens.

[d5000]

But electrum does not work on the full blockchain, right? So there might be similar problems as we discussed earlier: Some central server providing the name information is needed or the java stuff must be rewritten in python and included into the project.

Yes, that's certainly a problem - major modifications would be needed probably. An electrum-based "name registration/resolving client" would have to look back the last 36000 blocks (the time a name is registered before having to be renewed) to know if a name is registered or not. I sincerily don't know how electrum works internally (besides from "SPV") and if it is a big challenge to store these 36000 blocks (it could be also a pretty big storage requirement, as blocks can have sizes up to 1 MB).

It is however possible that a simple name registration transaction would be possible without much hassle, because in the case the name is already registered in the last 36000 blocks miners would simply reject it.

[22naru]

Something tells me that soon good things will happen to NMC!
It's impossible for a coin of this magnitude to be below countless useless tokens.

need some support and love from big whales:P

[wiked1]

Something tells me that soon good things will happen to NMC!
It's impossible for a coin of this magnitude to be below countless useless tokens.

need some support and love from big whales:P

I think the fact there is now a working electrum client that allows people to store off exchange without having to download the whole chain could make this happen at some stage in the future.Namecoin has maintained stable support even with low volume/liquidity for a long time now.

[gembitz]

First 5 cryptocurrencies that came into origin after bitcoin
https://satoshiuncle.com/first-5-cryptocurrencies/ …

NAMECOIN is one of them

i0coin huge pumping ~ same dev?  ===>


https://www.cryptopia.co.nz/Exchange/?market=I0C_BTC

[domob]

i0coin huge pumping ~ same dev? 

Just to clarify:  I did some work for I0coin (as well as other altcoins), but that was just as a contractor.  I'm not currently maintaining or developing I0coin, and do not plan to do so in the future.

[sokicsokic]

The Great Namecoin Mining Brownout of June 17-20, 2018: Postmortem
https://www.namecoin.org/2018/07/08/brownout-june-17-20.html

[hornetsnest]

i0coin huge pumping ~ same dev? 

Just to clarify:  I did some work for I0coin (as well as other altcoins), but that was just as a contractor.  I'm not currently maintaining or developing I0coin, and do not plan to do so in the future.

Wise decision.No need for a brain surgeon to operate on a rabbit.

[trantute2]

Current NMC-halving date:

Code:

current block   : 408412
remaining blocks: 11588
halving date    : So 7. Okt 20:08:16 CEST 2018

Code: https://bitcointalk.org/index.php?topic=6017.msg32884613#msg32884613

[OgNasty]

Something tells me that soon good things will happen to NMC!
It's impossible for a coin of this magnitude to be below countless useless tokens.

need some support and love from big whales:P

I think the fact there is now a working electrum client that allows people to store off exchange without having to download the whole chain could make this happen at some stage in the future.Namecoin has maintained stable support even with low volume/liquidity for a long time now.

Indeed.  This was a great step forward.

Current NMC-halving date:

Code:

current block   : 408412
remaining blocks: 11588
halving date    : So 7. Okt 20:08:16 CEST 2018

Code: https://bitcointalk.org/index.php?topic=6017.msg32884613#msg32884613

Exciting.  Get the trucks ready.

[MarketMagic]

I picked up some cheap ones on cryptopia last night.I can feel a lunar cycle in my bones 

[trantute2]

Has anyone an ideas what is going on with Namecoin on differerent markets?

Namecoin went up 25% today on coinmarketcap. However, if one analyses the different markets, then the prices are spread out widely:

Wex: between $2.30 and $2.60 with 65% of trading volume
E.g. cryptopia: $0.98 with 1% of trading volume

Is Wex real? Because if this spread were real, then traders would use this spread for arbitrage: Buy on cryptopia, sell on Wex.

This is really really strange.

Edit: I found this:

https://www.coindesk.com/bitcoin-price-nears-10k-on-wex-exchange-as-users-await-withdrawals/

[OgNasty]

Edit: I found this:

https://www.coindesk.com/bitcoin-price-nears-10k-on-wex-exchange-as-users-await-withdrawals/

Coinmarketcap should probably switch to using poloniex for the NMC quote.

[muf18]

Are developers still here watching thread of Namecoin?

We (small decentralized team of Slimcoin project), are integrating Web2Web into Slimcoin, and I have suggested that we could somehow cooperate as - we could provide content and access to website, and Namecoin could provide .bit domains.

Would anybody be interested?

Also as Slimcoin is having tri-hybrid consensus mechanism (PoW/PoS/PoB) it's quite hard to try double-spend, so it seems like a perfect match - secure blockchain with data linking to torrent network + Namecoin great .bit domains, and also secure blockchain with AuxPoW consensus.

[d5000]

@muf18: I'm also a Namecoin fan

There is probably no formal cooperation needed. All what's to be done is to provide tools that connect both functionalities.

The only problem that I see is the need for two tokens, but maybe an integration of an (Barterdex-style) atomic swap mechanism could help here (but that would need BIP65 in both chains).

[domob]

I am watching this thread - but I agree with d5000:  You can probably just go ahead for now.  But do let me know if there's anything where you think you need support from the Namecoin side.

[Elwar]

Is there a spv wallet for namecoin?

Something like bitcoinj?

[d5000]

Is there a spv wallet for namecoin?

Something like bitcoinj?

BitcoinJ has been ported:  ConsensusJ-Namecoin. It is in the beta stage. The last release is from April.

Look at the last page - there we talked a bit about Electrum-NMC, which would be another option. However, it is even at an earlier development stage and if you don't know exactly what you do you probably shouldn't use it for "real coins". Link: https://github.com/namecoin/electrum-nmc

@domob: Thanks! If there is help needed, we'll communicate.

[hornetsnest]

Is there a spv wallet for namecoin?

Something like bitcoinj?

BitcoinJ has been ported:  ConsensusJ-Namecoin. It is in the beta stage. The last release is from April.

Look at the last page - there we talked a bit about Electrum-NMC, which would be another option. However, it is even at an earlier development stage and if you don't know exactly what you do you probably shouldn't use it for "real coins". Link: https://github.com/namecoin/electrum-nmc

@domob: Thanks! If there is help needed, we'll communicate.

Namecoin electrum works fine.You simply need to ensure you do not use segwit transactions.The only thing it doesn't support is domain name registrations.