what's namecoin?
Namecoin is the first alternative cryptocurrency, forked from Bitcoin in 2011, designed to provide a decentralized domain name system resistant to censorship. It enables users to register .bit domains stored directly on the blockchain, enhancing privacy and security for internet identities. Namecoin uses a proof-of-work consensus mechanism similar to Bitcoin and has a maximum supply of 21 million coins. It pioneered non-fungible assets on blockchain and remains operational with significant hashrate. The project focuses on decentralizing DNS and supporting free speech by creating a trust anchor for the internet infrastructure.
Namecoin registered "Quantum," the first NFT, in 2014, sold for four dollars.
Was used to register "Quantum," the first NFT ever sold, in 2014 at a Seven on Seven hackathon where artist Kevin McCoy registered the digital artwork on the Namecoin blockchain before selling it for four dollars.
Network hashrate reaches new all-time high, indicating increased mining activity and security.
Security vulnerability discovered allowing potential false ownership claims through bitwise operations on name registrations.
Replay attack vulnerability identified in name registration system, allowing unauthorized recreation of metadata-based offers.
Network maintains second-highest hashrate after Bitcoin, demonstrating substantial security and adoption.