Namecoin is a value pair registration and transfer system based on the popular and oft-used Bitcoin technology. It makes use of open source technology that offers an enhanced level of security, better privacy, and superior speed of specific components such as high resistance to censorship, DNS, and identities. While Bitcoin provides freedom from conventional currency, Namecoin provides freedom from DNS and identities.
The operation method of Namecoin is nearly the same as Bitcoin. In fact, many cryptocurrency experts regard Namecoin as one of the best protected and highly secure cryptocurrencies. That’s why Namecoin is recommended as a great choice for investment for those who believe that cryptocurrencies are the future of trading and investment. Namecoin transactions are controlled without any centralized administration and by using the P2P network. Namecoin and its processes cannot be tampered or interfered with in any way.
Namecoin is designed to establish and relocate arbitrary names. It can also assign a value to the names. Namecoin offers the ability to deal in NMC, its digital currency. It is difficult to control or seize Namecoin just as is the case with Bitcoin.
Namecoin is being accepted by an increasing number of online stores and services. In the near future, one of the easiest ways of spending this cryptocurrency is to spend it for online purchase. It is also a great investment resource when it is mined or when it is purchased through an exchange. The example of Bitcoin is there for everyone to see. Namecoin can also be used for building a diverse portfolio of investment.
Namecoins mining is similar to the mining process of Bitcoin. Experts recommend merged-mining which is a process in which Namecoins are mined as a by-product of Bitcoin mining and can be obtained for free. However, there are limited mining pools that offer the facility of merger mining. The two reliable and popular pools that offer this facility are Eloipool and p2pool software. Miners without any access to specialized hardware for Bitcoin can choose to mine any coin that’s CPU-friendly and then exchange it for Bitcoin and NMC later. Namecoins can be also bought at some cryptocurrency exchanges.
Namecoin identity can be safe if your wallet ID and the computer has been adequately protected.
The market capitalization of NMC is $42,351,529 as of date. Currently, there are 14,736,400 NMC available for supply.
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