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> 2. hand-wavy name coin reputation thingy. This idea makes no sense. Using namecoin to keep track of identities makes perfect sense. That's precisely what it
by GigabyteCoin 13y ago
> 2. hand-wavy name coin reputation thingy. This idea makes no sense.
Using namecoin to keep track of identities makes perfect sense. That's precisely what it was created to do. See http://dot-bit.org/Use_cases http://dot-bit.org/Use_cases
Obviously the reputations would need to be stored somewhere, but using Namecoin to say "this arbitrator is definitely the arbitrator you are trying to use for arbitration" would work perfectly well.
- VMG 13y agoAdding to this, some reputation is already stored in the blockchain. Former sellers on SR can prove to be owners of previously used addresses.
- mburns 13y agoBitcoin can already do third-party arbitration and Bitcoin addresses (and/or GPG) can already track identity. How does Namecoin help?
- GigabyteCoin 13y agoNamecoin can keep track of the initial date that the particular identity was registered. It can allow for the owner of the identity to quickly update information for everyone to see in the blockchain. It helps a great deal when it comes to keeping track of identities. You can store up to 1kb of data inside a namecoin registration. The above cannot be said of Bitcoin addresses or GPG.