4 ms·

Domains on the blockchain?

• kardos 8y ago
  https://namecoin.org/ https://namecoin.org/
  • znpy 8y ago
    I was about to get some namecoins and register my .bit domain name but I decided to dig a bit more before going all in. Correct me if I'm wrong (seriously, please do) but it seems to me that namecoin being (technically) a fork of bitcoin, shares most of bitcoin's problems, in particular regarding mining and exchange. Here was my doubt: suppose that I get namecoins and obtain .bit domain name, how do i keep it registered? Do i have to mine? Do i have to renew by "spending" namecoins? Can i get namecoins on exchanges? (spoiler to last question: yes). Here is how it might just fail: given that namecoins has mostly the same cryptographic properties of bitcoin, if namecoin was to become widely adopted then everybody would start mining and selling namecoins, making namecoin price skyrocket at the point where 1) mining namecoins to keep your domains would become super expensive 2) people would burn "real" money on gpu mining and asic miners, accumulating large amounts of coins and keeping them hostage (that is, hoping to sell them for a lot of "real" money).
• arnoooooo 8y ago
  You'd still have to agree on what rules to base your blockchain on. This is a political issue, not a technological one.