What the hell is namecoin?

[dikidera]

I am reading the description..but i am sorry i just dont get what it does. Will it allow me to register my own domain or something?

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[ribuck]

Namecoin lets you register your own name in the .bit top-level domain. For example, you could register dikidera.bit

For browsers to be able to see .bit domains, they must have their DNS settings changed. It's easy enough to do. Of course there needs to be a DNS server somewhere that will serve these domains, but that's not a problem.

Like Bitcoin, the Namecoin system is peer-to-peer and can't easily be shut down.

In addition to registering domain names, you can be a namecoin miner. This is vaguely analogous to being a domain name registrar, in that you can charge fees for mining the blocks that contain people's domain name registrations and renewals.

[Conqueror]

I am reading the description..but i am sorry i just dont get what it does. Will it allow me to register my own domain or something?

Just visited namecoin "super modern" website.
But didn't figured it out!

[Bit_Happy]

NMC was the first alt coin, back when "devs" (and miners) had much higher standards... ah the good old days.