Namecoin (NMC)
Rank #745
Market snapshot
- Price
- $1.01
- Market cap
- $14.9M
- 24h volume
- $10,276.25
- Circulating supply
- 14,736,400
- Total supply
- 14,736,400
- Max supply
- N/A
What is Namecoin?
Namecoin (NMC) is a cryptocurrency designed to enhance the decentralization and security of the Internet. It allows users to register names and store associated values on a blockchain, providing a decentralized alternative to traditional DNS systems.
How Namecoin works
Namecoin operates on a peer-to-peer network, enabling users to generate NMC through mining. It utilizes a decentralized TLS (HTTPS) certificate validation process, which is backed by blockchain consensus. The Namecoin software facilitates the registration of names and the storage of values in a shared database that is distributed across the network.
Key information
- Symbol
- NMC
- CMC rank
- #745
- Network / platforms
- N/A
- Categories
- Mineable, Proof of work, SHA-256
- Date added
- Apr 28, 2013
Key characteristics
Namecoin is an experimental open-source technology that enhances decentralization, security, censorship resistance, privacy, and speed in Internet infrastructure. It is categorized under mineable, proof-of-work, platform, and SHA-256 tags by CoinMarketCap.
Documented uses
Namecoin can be used for decentralized DNS, providing a secure way to register domain names. It supports off-chain TLSA records for TLS server authentication, enhancing security for users.
Official resources
Risks
Digital asset prices can be volatile and can change materially. Users should verify the contract address and network before transferring assets. Self-custody requires secure private-key and recovery-phrase handling. Centralized platforms can involve operational, custody, and counterparty risk. Availability and regulatory treatment can vary by jurisdiction. Transaction finality and reversibility can differ by network.
Transfer and custody notes
Verify the asset name, network, and the destination details before transferring. Verify destination address and network before sending assets. Review the custody method, including self-custody versus a third-party platform. Understand that transfers may be irreversible and that CoinLoom does not confirm exchange availability.
FAQ
- What is Namecoin?
- Namecoin (NMC) is a cryptocurrency that aims to improve decentralization, security, and censorship resistance in various components of Internet infrastructure, such as DNS and identities.
- How does Namecoin work?
- Namecoin operates on a peer-to-peer network, enabling users to generate NMC through mining. It utilizes a decentralized TLS (HTTPS) certificate validation process, which is backed by blockchain consensus.
- What are the key features of Namecoin?
- Namecoin is an experimental open-source technology that enhances decentralization, security, censorship resistance, privacy, and speed in Internet infrastructure.
- What are the risks associated with Namecoin?
- Digital asset prices can be volatile and can change materially. Users should verify the asset and network before transferring assets.
- Where can I find official resources for Namecoin?
- You can find official resources for Namecoin on their website at https://www.namecoin.org/.
- How can I verify the acquisition of Namecoin?
- Verify the asset name, network, and the destination details before transferring. Understand that transfers may be irreversible.
Related cryptocurrencies
Listed from stored network and category relationships, not a similarity score.
