Namecoin to ruble exchange rate

Name coin is a cryptocurrency created on the basis of Bitcoin. In principle, this is far from the first and not the last coin created according to this principle. But still, the project under consideration has a lot of features.

Of course, Namecoin has common features with all cryptocurrencies. For example, no ties to banks or any other financial or government systems. The goal of the Namecoin project is to make it possible to maximize the expansion of payment system options that exist today.

Namecoin was the first cryptocurrency project - a fork of Bitcoin. This is historically the first fork, although few have heard of this coin or understand how it differs. We will try to correct this injustice today by presenting information about what features the fork has and why it has not yet taken a leading position in the market.

Although there is no doubt about the latter - too much competition does not allow the project to become a leader. Nevertheless, people still doubt whether it is worth investing their hard-earned money in this cryptocurrency. There is always the possibility that even a project forgotten on the cryptocurrency market can “take off” if favorable circumstances exist.

Basic information about Namecoin

Surprisingly, despite the fact that the Namecoin cryptocurrency is considered the second coin to appear after Bitcoin, not much is known about it. Basically, the information is related to the fact that the coin is a fork of Bitcoin, and this is where all the statements about it dry up. Nevertheless, the project largely remains of interest to traders and investors.

So, let's start with the history of the appearance of this coin. The project was implemented on April 18, 2011. As stated above, the base for the new product was Bitcoin. It was its source code that was taken to implement the project in question.

The coin has the following features:

• The use of alternative type DNS servers, thanks to which the site has its own history, distinguishable from its progenitor;
• This coin is a deflationary cryptocurrency, although its market capitalization is only $26,326,305;
• The platform, like its progenitor, provides 21 million available coins. Emission is constant;
• There is a direct connection with ICANN. Simply put, Namecoin is dependent on ICANN. You can work with it only after you pass verification at ICANN.

Unfortunately, almost everyone has already forgotten about Namecoin. Knowledgeable people believe that this coin has no prospects. In some ways they are right, since the project is not developing. The last weak updates were carried out in 2014. And 4 years for the cryptocurrency market is like a century. Nevertheless, let’s not write off the coin just yet. Perhaps a miracle will happen and it will announce itself with a new jump in the rate or some kind of original update. Let's wait and see.

Cryptocurrency Namecoin

This digital money emerged from Bitcoin as an alternative means of payment. The basis was the decentralization of the system, as well as the creation of domain addresses that increase the advantage of using Namecoin.

All users register domains by paying for the creation of an account and periodically renewing its validity. This creates additional guarantees of user responsibility, but also creates certain obstacles in the popularization of cryptocurrency.

There are two ways to get Namecoin digital money - by purchasing from other users or by mining. The mining algorithm is combined with Bitcoin, which allows you to simultaneously receive rewards for supporting both blockchains.

At the same time, combination with the Bitcoin blockchain provides the functionality of digital money data with additional security and reliability. In the context of network decentralization, this makes cryptocurrency in demand for use in bill payments, transactions and transfers.

However, despite its distinctive features, the popularity of the Namecoin cryptocurrency, as well as its practical application, are questionable. This creates questions about the development potential of the project and its future.

Similarities with Bitcoin

Since Namecoin NMC and Bitcoin come from the same “family” and are even related to each other, it is natural that they have a lot in common.
If we combine all the common features into groups, we can distinguish two main parameters. Based on them, you can see the similarity of these coins. Let's look at how cryptocurrencies are similar to each other:

1. Decentralization of the system. Of course, a peer-to-peer system can hardly be called something original in the modern cryptocurrency market. But when we talk about cryptocurrencies in 2011, such a system was new. Thanks to the decentralization of Naimcoin and Bitcoin, anonymity is guaranteed. The possibility of influence on their course by states or financial institutions is also excluded. Also, transactions on both of these networks cannot be reversed. Overall, these two cryptocurrencies have something that makes every popular digital coin different. Simply put, decentralization refers to the financial independence of the cryptocurrency pair in question.
2. Limited edition. Since Namecoin is an alternative coin to Bitcoin, they have the same emission. The number of coins for both one and the other is 21 million units. In addition, they have the same algorithm used for mining – SHA-256. Interestingly, users have the opportunity to simultaneously mine both one and another coin without losing power.

But at the same time, the coin has many differences from Bitcoin.
For example, the fact that you need to register your domain name. Moreover, this process sometimes lasts about two hours. And the domain must have a unique name, and coming up with one is quite difficult. In addition, registration is paid, although the price is symbolic - only one cent. By the way, another common feature is the determination of the fee for the formation of a block by miners. But the payment is dynamic. This was done to provide an incentive to develop the site. True, as time has shown, this incentive was not strong enough - Namecoin fell below zero more than once.

Namecoin

Namecoin (NMC) is an experimental open-source technology that improves the decentralization, security, censorship resistance, privacy and speed of certain components of the Internet infrastructure, such as DNS and identities.

For the technically minded, Namecoin is a key/value pair registration and transmission system based on Bitcoin technology.

Rate as of 08/14/2020

• Rate:
  0.435442 USD
• Symbol:
  NMC
• Rating (CMC):
  610

Algorithm

Bitcoin frees up money, Namecoin frees up DNS, identities and other technologies.

Namecoin software is used to register names and store their associated values ​​on the blockchain, a shared database distributed securely by a peer-to-peer network. This software can subsequently be used to query data from the database and restore it.

If you use Namecoin to register or otherwise own names, or to move Namecoin coins, then you should periodically back up your wallet. As with Bitcoin, the keys to your wallet are stored in your wallet.dat file.

Benefits of Namecoin

• Securely records and transmits arbitrary names (keys).
• Attaches value (data) to names (up to 520 bytes).
• Performs transactions with the digital currency namecoins (NMC).
• As with bitcoins, Namecoin names are difficult to censor or seize.
• Views do not generate network traffic (improves privacy).

Namecoin was the first fork of Bitcoin and is still one of the most innovative altcoins.

It was the first to implement federated mining and decentralized DNS. Namecoin was also the first solution to the Zooko Triangle, a long-standing problem of creating a naming system that is both secure, decentralized, and meaningful to humans.

What applications is Namecoin suitable for?

Keep in mind that Namecoin values ​​are limited to 520 bytes, and that the block size limit ranges from 500 kB to 1 MB (this is less than Bitcoin). Considering that on average blocks occur every 10 minutes (usually ranging from 1 to 60 minutes), and that names should be updated at least every 35,999 blocks, try to determine whether your application will fit well into blocks. if it becomes widespread.

Domain names and identities are applications that are near the upper limit of what Namecoin can handle. For example, the Namecoin blockchain cannot be misused as a decentralized storage for files. There are a number of other decentralized systems that can serve this purpose more effectively.

In many cases, if you want to store data that is larger than 520 bytes, or data that is updated too frequently, you may choose to store just the hash content or public key on the blockchain, along with information about where to get the full data. Subsequently, the complete information can be authenticated using Namecoin as a trust anchor without storing all the data in Namecoin.

An example of this use case is the ability to delegate .bit domain names to an external DNSSEC name server authenticated by a DS record on the blockchain.

What does Namecoin have in common with Bitcoin?

• The total number of coins is 21 million, minus the lost coins.
• At the beginning, 50 coins are generated with each block; The reward decreases to the widow every 210,000 blocks (approximately every 4 years).
• Security: Most Bitcoin miners also mine Namecoin, which gives it stunning difficulty.
• Pseudonymous Founder: Vince, like Satoshi, never revealed his identity in the real world and disappeared around the same time, leaving the Namecoin project to fend for itself, now thriving only thanks to the help of devotees from the FLOSS community.
• Free/independent open source platform: anyone can improve the code and report issues on GitHub, and even use it for other projects.

Advantages and Disadvantages of Namecoin

There is not a single product in the world that could be called absolutely bad or, conversely, ideal. If you look closely, you can find pros and cons in any thing. Unfortunately, in the case of Namecoin block-explorer, you don’t even need to search. As they say, everything is in plain sight. Let's take a closer look at the pros and cons of this system and start with the good, namely the pros:

• The main advantage is high security. Of course, if we consider the protection theoretically, then it is possible to hack it, but doing this in practice is very difficult. And it’s pointless - it’s so expensive that no one will take it. It is not economically profitable, since it is necessary to exceed the total capacity of all user resources;
• The second advantage that once attracted users was the ability to mine Bitcoin and this coin in parallel. That is, people can earn more, since such a symbiosis has practically no effect on power.

Now let's add a little negativity. Unfortunately, NMC has significantly more disadvantages than advantages. So let's look at them:

• To work with Namecoin, you need to register a domain name. At the same time, as we wrote above, this name must be original. But thanks to this, cybersquatting can be carried out. That is, register promising domains and resell them when a buyer appears;
• The independence of these coins is very conditional. Problem with ICANN. Only by registering a domain there will you be able to become a member of the system. Simply put, if a common center is used that controls users, then decentralization itself is excluded, since there is still a controlling body. This does not interfere with operation and does not in any way affect the operation of the network, but still makes the system vulnerable. Why are users not happy?
• At the same time, there is a positive and negative side to the fact that the mining of Bitcoin and Namecoin are closely related to each other. Many pools engaged in mining these coins may fall at one moment, then no one will even think about returning the money. And all because of problems with Bitcoin;
• Well, the main problem is the lack of any updates. One gets the feeling that the team has long abandoned its brainchild and is not interested in its development. It seems that this is not an assumption, but a fait accompli. There have been no updates related to NMC for a long time. To be more precise, four years. Naturally, few people will want to work with a product that even its creators abandoned.

In general, since 2014, users began to gradually leave the system. Only you can decide whether to follow their example or whether it is better to believe in this cryptocurrency and give it another chance. We are talking about cryptocurrencies, and you can expect anything from this market. Including new life for an old project.

How to mine NMC

The peculiarity of mining the Namecoin cryptocurrency is that it can be mined along with Bitcoin. As a result, the user gets the opportunity to make more profit.

So, let's look at how Namecoin is mined using solo mining as an example:

• 
  Go to the official website namecoin.info and download the miner program. Please note that there are a couple of versions of this program on the resource, so choose the one that suits your computer. The reference point is the version of the operating system;

• Install the downloaded program using the installer file. It is better to install to “C:\Documents and Settings\Username\Application Data\Namecoin”;
• When you are done with the installation, create a “bitcoin.conf” file;
• Next, add “rpcuser=your_user”, “rpcpassword=your_pass”, “rpcport=8336”, “server=1” to the newly created configuration file.

When the operations are completed, you can start mining coins. By the way, if you are going to mine in a pool, the recommendations described above are not suitable. You need to use the recommendations given by the pool where you are going to work.

Where to store Namecoin

After mining, coins need to be stored somewhere. Naturally, Namecoin wallet is used for this - a wallet for storing NMC. But how to get it? Everything is pretty standard. In order to store your money, it is enough to register a domain. But we have already said that the domain name must be original. Well, one more nuance - it must be opened in the “.bit” zone.

However, registering a domain name is not a free procedure. You need to pay one cent for it. This is not much, but the very fact of payment is not encouraging. In addition, registration is not instantaneous. It takes two hours. At the same time, you cannot disconnect from the network the entire time the procedure is taking place.

In addition, if you create an official Namecoin wallet, take into account its features:

• Parallel issue of cash. Thanks to this, you can earn extra money;
• The wallet has excellent protection against interference from banks and even national governments;
• You have to pay to use the domain. The subscription fee is charged exclusively in Naimcoins;
• A domain has a life cycle. It is 36 thousand blocks, which in real time is about 6-8 months. When this period expires, the procedure must be repeated or paid 0.005 Namecoin to continue working.

NMC course:

Exchanges trading NMC currency

Since this cryptocurrency is one of the very first in the world, it is traded on major exchanges. For example, the most popular cryptocurrency exchanges that trade these coins are collected in this table:

Today, on all these exchanges, the exchange rate for both the ruble and the dollar is different. But on average it is about 1.87 dollars or 144 rubles. However, before choosing an exchange, look at the most favorable rate.

Cryptopia

The Cryptopia cryptocurrency exchange was founded in 2014 in New Zealand.
This is a multi-fork resource with a large range of cryptocurrency pairs. In addition, it has a good daily turnover of funds - more than a billion dollars. As for trading with Namecoin, the following pairs can be used on this exchange:

• NMC/BTC. The trading turnover for this pair on the exchange is 324,642 rubles or 2817,212 NMC. At the same time, the exchange rate on the exchange is 115.24 rubles or 0.00021118 BTC;
• NMC/DOGE. The daily trading turnover for this pair is 140.82 rubles or 1.277 NMC. The coin rate here is 110 rubles or 315 DOGE;
• NMC/LTC. The daily turnover for this pair is zero, so you will have to wait a long time to buy coins. And the exchange rate is 128 rubles or 0.014 LTC.

Commission for trading transactions is 0.2%.

Yobit

The Yobit cryptocurrency exchange is one of the largest platforms. There are many cryptocurrency pairs here (surely, it is one of the largest exchanges in this regard). This can be seen from the number of cryptocurrency pairs with Namecoin:

But there are a lot of unpleasant rumors around this exchange. For example, problems with withdrawing funds often occur on the site. This makes it difficult to trust her completely. In addition, users say that the exchange is bankrupt. Whether you believe her or not is your decision, but it’s better to be on the safe side.

Livecoin

The Livecoin cryptocurrency exchange has everything a trader needs.
You can also trade NMC cryptocurrency here. True, the most popular pair remains NMC/BTC. The trading volume for this pair is more than a million rubles or 9012 Namecoin. The rate is 113 rubles or 0.00020805 BTC. The total daily trading turnover on the exchange is about two billion rubles. In general, if you have decided to buy yourself Namecoins, then this resource is perfect for this.

And these are not all the advantages of this site. For example, you can use fiat money. However, in order to deposit and withdraw funds you need to go through verification. And the platform itself looks clear even for a beginner, so if you use this exchange for the first time, you’ll quickly figure it out.

In addition, there is a convenient exchanger on the site. And withdrawing money is very simple - there are no limits after verification. Enter the amount and wait for the money to arrive in your account.

Bleutrade

Bleutrade is a South American-based cryptocurrency exchange launched in March 2014. The main distinguishing feature of this cryptocurrency platform is the large number of tokens that can be bought and sold. Let's look at the most popular pairs where Namecoin is involved:

Today, the total trade turnover on this site is more than six million rubles. There is just a nuance, since the service does not work with fiat currencies. Therefore, if you want to buy coins for rubles or dollars, you will first have to exchange them for one of the coins presented above. But this inconvenience occurs on many exchanges.

Namecoin: cryptocurrency to ruble rates

Current cryptocurrency rates at scry.info – monitor fluctuations online. Information comes from the largest exchanges and is processed in real time. You can see exchange rate changes for most of the most popular fiat currencies. Online charts, automatic converter and news will allow you to quickly navigate the current market trends in the relationship between scry.info and cryptocurrencies.

It is always worth remembering that the cryptocurrency exchange rate is quite volatile. It can either grow by several percent in a couple of minutes or fall. This volatility attracts most investors, who constantly monitor the price of cryptocurrency in order to buy at the lowest price, and then wait for growth to sell at the highest. You can buy cryptocurrency quickly and at a favorable rate in the Matbi online exchanger. The service has been operating for more than five years and can offer users not only the exchange of cryptocurrencies, but also their reliable storage. Matbi's built-in crypto wallet supports four leading cryptocurrencies: Bitcoin, Litecoin, Dash and Zcash. A high level of protection for users’ crypto assets is provided by “cold” wallets, as well as three-factor authentication when entering your personal account (PIN code, email code and SMS code, which can be replaced with Google Authenticator). The service is also interesting to users, as it includes a multi-level affiliate program. 24-hour technical support promptly answers all user questions. How to become the owner of cryptocurrency in Matbi is discussed in detail in this video.

Estimate!

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NMC Forecast and Course

In the past, when looking at the Namecoin rate, the chart showed positive dynamics, but this happened until 2013. After this, a disappointing thing happened to the NMC rate - it began to fall. If in 2013 coins were sold at a price of more than $13 per token, then in 2014 the price fell by almost half and was already about $7.5.

However, if they continued to pay the same amount for one coin, many would be happy, but this did not happen. The rate fell first to one dollar, and then to 75 cents. Until 2020, the cryptocurrency was quoted approximately at this level, without rising higher.

In the summer of 2020, the price of the coin rose again and amounted to three and a half dollars. By the fall, the exchange rate fell again and was quoted slightly more than the dollar. But during the rapid rise of Bitcoin in the winter of 2017-18, the value increased again, although it failed to reach its former heights. At that time, 1 Namecoin in rubles cost 425 rubles, and the exchange rate to the dollar was 7.5 dollars.

Now the rate has fallen again, although it has not reached its historical minimum. Given all this, Namecoin's prospects are mixed. But if before the site was at a dead center, now the situation has shifted.

Although the developers do not really think about the development of the project. In this regard, jumps in the coin’s exchange rate are most likely associated with an increase in the price of Bitcoin. Therefore, investing in a coin is risky. However, it is not so expensive that you can't risk it. It’s better to have a small reserve in case the price starts to rise again.

Namecoin to ruble exchange rate

Namecoin to ruble exchange rate
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Please help improve the text on the site. It has been automatically translated from English and often requires human intervention. Namecoin and Russian Ruble with exchange rates as of August 12. Enter the amount to be converted in the field to the left of Namecoin. Click on Russian Rubles or Namecoins to convert between that currency and any other currencies. The Namecoin is the domestic currency of no country. The Russian ruble may also be called the Russian ruble. A synonym for the currency code RUB can also be R. The Russian ruble consists of kopecks. The Namecoin exchange rate is as of August 12. The Russian ruble exchange rate is as of August 10. The NMC conversion factor consists of 12 digits. The RUB conversion factor consists of 6 digits. You can correct a bad translation yourself. Copyright reserved C Stephen Ostermiller Privacy Policy. Add your comment to this page. Leave a comment Comment Subject: Your name will be shown with your comment: Options Round to lowest currency unit.

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