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Namecoin

Namecoin

If you are looking to enter the world of finance there are many things that you must be clear before doing so. The first thing, that you don’t really need a university degree to be able to make good investments and save correctly; Nor will this give you the good common sense that an experienced person in the world of Finance has to be able to make a smart investment, although it will give you invaluable knowledge that will open the doors to different jobs and companies.



The second, that in order to make good financial decisions you do not have to rely solely on savings. Saving is important, saving money for as long as it is needed is a very smart move. But, just by saving you will not grow financially. This is because, the only thing that can make you grow financially apart from having an excellent job, is making smart investments.

Now, the term used to refer to smart investing has changed over time. For one time it was the real estate market, for another it was the computer market. Nowadays, the panorama has changed a lot, but good investments have not moved far from the world of technologies, as is the case of cryptocurrencies, that is, it has caused a lot of boom in different media worldwide.



Cryptocurrencies are the smart investment of today, to be able to invest in them you have to know a little about them. Specifically, you have to know a little about the different cryptocurrencies that are in the current market, as is the case with Namecoin.

What is Namecoin?

Namecoin is the name given to a cryptocurrency, and a very particular one, since it was the first that ended up being a kind of spin off of the primary code of bitcoin. And, even though it is very much based on the original code of bitcoin, it has lots of little differences that make it a unique and attractive cryptocurrency to different people around the world. It also uses a distribution algorithm known as SHA-256, and is currently limited to 21 million units.

On the other hand, regarding the differences it has with bitcoin, you can talk a little about how it stores the data. Namecoin, interestingly, has the ability to be able to save your data within the same blockchain which is quite unique for a cryptocurrency.

Likewise, at the beginning, the initial proposal of Namecoin was based on a DNS system but totally decentralized and that in turn used the same database as that of bitcoin. But, due to the difficulties that were encountered along the way in the development of this cryptocurrency, the idea that it was a kind of add-on or complement to bitcoin was abandoned, which is why a cryptocurrency was developed. really different from this one.

So, because it uses a storage system regarding the DNS record, there has been a lot of talk about the potential that this cryptocurrency has for its users, such as the implementation of an identity system, a namespace, the power use communication between processes and even the implementation of an alias system; and much more.

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