Rank #N/A
nmc Namecoin
$ 0.556
0.00%
0.05919 BTC
919 satoshies0.00%
Market Cap
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24 Hour Trading Vol
12,891.9666 $
Circulating Supply
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Total Supply
21,00 MLN.
Max Supply
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Fully Diluted Valuation
11,71 MLN. $
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About Coin
Namecoin is a domain name registry service and was the first coin to fork Bitcoin. Similar to registering a .com or .io domain name, you register a .bit domain on the network. This domain is censorship-resistant and impervious to activity tracking. Governments and large corporations control traditional domain name services (DNS) servers. This control is how the Chinese government, for instance, can block websites that go against their beliefs. To prevent this level of censorship, Namecoin uses blockchain technology to distribute its DNS amongst the users on the network.
A pseudo-anonymous founder by the name of “Vince” created Namecoin in 2011. Since then, Vince has disappeared, but a core development team has kept the project alive. The project has several developers listed on the official website and benefits from the contributions of numerous anonymous developers as well. Namecoin has been fully functional for a few years, now, and the development team posts updates several times a month.
Namecoin was the first cryptocurrency to use Auxiliary Proof of Work (AuxPoW) for its consensus. By using AuxPow, Namecoin and Bitcoin can be mined simultaneously. In this consensus, the child blockchain depends on the proof-of-work of parent blockchain, which means If a new block is created on Bitcoin blockchain, it will also be added to the Namecoin blockchain. NameID is another technology brought by Namecoin. It serves as an open service for securely registering human-readable names in a decentralized way. NameID is a combination between Namecoin and OpenId, where users can easily convert their Namecoin Identities into OpenIDs. This makes NameID a solution to Zooko's triangle, which states that there are three desirable properties (Human-meaningful, Decentralized, and Secure) for name participants in a network protocol and any participant can only inherit two properties at a given time.
Namecoin is among some earliest cryptocurrencies. During its existence in the market, it has seen a high volatility on some occasions, which can be attributed to many reasons. Namecoin has been around in the cryptocurrency market much longer than most cryptocurrencies today; however, despite this, it has not gotten much attention until recently. In 2014, it was among the top ten cryptocurrencies by market capitalisation, which is now changed due to the introduction of hundreds of new cryptocurrencies. Namecoin was abandoned by its creator which can be seen as a red flag by many. The project is currently being developed with the support from its community. The current team has been actively taking the project forward and also provides regular updates on social media channels.
Where is Namecoin available for purchase?
You can exchange NMC tokens on both decentralized and centralized crypto platforms. The favored choice for purchasing and trading Namecoin is CoinEx, notably the NMC/BTC pair, which saw a trading volume of $ 6,595.18 in the past day. Additionally, AltcoinTrader is popular alternative for trading tokens.
What is the highest value Namecoin (NMC) has ever reached?
Namecoin (NMC) reached its peak price at 13.11 $ on 29 November 2013, approximately 11 years ago ago. Presently, the current price is -95.75% lower than this all-time high.
What is the historical minimum price for Namecoin (NMC)?
The minimum price reached for Namecoin (NMC) was 0.0009151 $, documented on 26 May 2023, more than a year ago. In comparison, the current price is 60,662.97%, it above this historical low.
What is the fully diluted valuation of Namecoin (NMC)?
The fully diluted valuation (FDV) of Namecoin (NMC) stands at $ 11,71 MLN.. This figure reflects the maximum potential market capitalization, considering that the current circulating supply is at its maximum of NMC tokens. The realization of this FDV might take several years depending on the emission schedule of NMC tokens.
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