Namecoin was and still is the first fork of Bitcoin and the most innovative altcoin. It was the first solution to Zooko’s triangle. This was the long
Namecoin was and still is the first fork of Bitcoin and the most innovative altcoin. It was the first solution to Zooko’s triangle. This was the long standing problem of naming system production that is secure and decentralized. Namecoin cryptocurrency is an experimental technology which improves security, privacy, speed of certain components, decentralization and censorship resistance. With Namecoin, you don’t have to keep waiting for payment to get to your account. This cryptocurrency is issued and managed without the need of a central authority. Each time a user makes payment, they receive interest because there is no bank or government in charge. Namecoin provides its users with an economic method of saving and spending their money privately without having taxation bodies in their country being curious about what business they are involved in to earn such cash.
As things are getting digital, your payment should get digitized too, and using Namecoin only gets you where other currencies cannot get you within the shortest time possible. If you want to meet your financial needs using a currency that will not disappoint you in your business transactions, then opt for Namecoin.
The best thing about namecoin is that there is no central government which will govern the print and all other related issues. However, there is a special software that is used by miners to helps them solve the equations. Miners are issued with a certain number of namecoins which ensures that people are issued with namecoins at all times when needed. Mining also keeps the site secure, fair and stable. The tougher the mining process the lower the target and the higher the target the easier the mining process. This means that while mining may seem easy and doable by just anyone, it is still a difficult process that requires specialization.
When it comes to market, there is no restriction of age. Anyone is legitimate to use namecoin regardless of age or even profession. Namecoin ensures that anyone fits and meets the need of using the currency without restriction of any kind. Thus making everyone good at receiving and sending payment as well as mining the currency. Like normal currency, the namecoin value does rise and fall depending on how many people are using the coin and how the miners are producing the coins for exchange. It is also added advantage that there are rewards and blockchains that help make namecoin markets interesting to observe and use. Regardless of which country individuals are in.