NameCoin (NMC) is a native coin on the NameCoin blockchain used to pay for registration and transaction fees. Name coin is an experimental technology aims to improve security, privacy, speed and censorship resistance of the certain components of the internet such as DNS and identities. NameCoin is based on Bitcoin technology and is a key/value pair registration and transfer system. The NameCoin securely records and transfers the arbitrary names and transact the NameCoins (NMC). NameCoinShow more [+] implements merged mining which allows the miner to mine more than one blockchain at the same time. NameCoin also solves the problem of producing a naming system that is simultaneously decentralized, secure and human-understandable.
NameCoins (NMC) is used to register the names for the fee of 0.01 NMC. The total supply of NameCoins is same as of Bitcoin i.e 21 million. NameCoins are burned after each transaction. There are two names spaces available to register i.e. DNS and personal. The names need to be renewed after every 35,999 blocks. There is no fee for renewal but transaction fee apply.
The NameCoin is developed by the team of volunteers and academics working to protect free speech online. The team consists of Daniel Kraft as Chief NameCoin scientist. There are 8 other members working on NameCoin project.
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