The Second Life for Namecoin

Namecoins is not just a plain crypto currency for trade is base for a more important system – the decentralized domain name system or the decentralized DNS.

14 Total views
0 Total shares
The Second Life for Namecoin

Namecoins is not just a plain crypto currency for trade is base for a more important system – the decentralized domain name system or the decentralized DNS. This network consists of pages having the .bit domain. The main problem diagnosed in the recent time was the ability to take over any page on this domain with no special permissions or abilities.

Currently there are more than 104000 such pages on the .bit domain; none of them was taken over of violated. As it is known the owner has to change the name of the page every 250 days so it does not expire and to receive such a domain you need to pay less than a whole Namecoin. Namecoins can be used for other purposes as this, but it happens very rarely. The main reason for its existence was and still is the strong from the cryptographically point of view storage and transmission of keys and values. As it is one of highest domains of the TLD and is separate from the classic domains of the DNS network browsed by the most users all over the world, it can ensure safety and lack of censorship over the network. On the one hand it might appear useful for the black market, terrorists and other criminals, but ones that suffer are the people aiming to tell the truth to the society. One of the most recent and most important examples is the page Wikileaks, who was placed on the .bit domain.

To enter this sites users have to update their browser, do not matter what they are using, to view the pages on this alternative network. The users have encountered several problems – among them safety. A page or value can disappear with no trace leaving the system with another drawback and disadvantage for further users. The Kraken Exchange and their developers currently are trying to fix all the problems that have occurred.

One is that the domain can be taken over as the protocol can be described as dead, the second the routine of the reservation of the domain name – it can be easily changed and not only by the owner.

The Kraken representative also ensures that everything up to block 139872 on the network is safe and protected from these issues. Currently the implementation should overall reduce the dread of the problems.

The developers or let us better call them activist behind the resurrection work over Namecoin warn not to buy domains from people until they are not sure about their safety. Just prove the block for the updates. When all the updates will take place the network will regain its safety. The kraken exchange company will provide all the necessary information to the users to mind further problems and issues.

If this work will go on that successfully Namecoin might return to its leading positions among crypto currencies and ensure more safety for information and voicing of alternative opinions that will provide fresh air to both politics and economics of the whole world.

 

×

Hottest Bitcoin News Daily

For updates and exclusive offers, enter your e-mail below.