At present commemorates the thirteenth anniversary of the primary altcoin, the crypto asset Namecoin (NMC), whose community debuted on April 18, 2011. Though the token has dimmed over time, the community stays underneath energetic growth and its proof-of-work (PoW) hashrate ranks among the many highest within the crypto ecosystem.
Whereas Usually Forgotten, the First Altcoin Turns 13 At present
13 years in the past at this time, the primary and longest-standing altcoin got here into being. Following Satoshi Nakamoto’s launch of Bitcoin on Jan. 3, 2009, precisely 835 days later, the Namecoin community went stay. The initiative is a decentralized, open-source cryptocurrency and blockchain forked from Bitcoin’s codebase.
At its core, Namecoin establishes a decentralized area title system (DNS) and identification administration framework, fortifying web infrastructure towards censorship and privateness incursions. The principal utility lies in registering and resolving “.bit” domains, none of which reply to a single authority. Notably, the “bitcoin.bit” DNS title holds the excellence of being the primary non-fungible token (NFT) asset.
Up to now, individuals have minted a whole lot of hundreds of .bit domains. To safe one among these domains, you could first get hold of Namecoin’s native token NMC, and set up the Namecoin Core shopper or another pockets geared up for title administration. Inside the shopper, provoke the `name_new` command (omitting the .bit extension) to order your required moniker, fastidiously noting the transaction ID and random salt.
After patiently awaiting roughly 12 blocks to discourage entrance‑operating assaults, execute `name_firstupdate` together with your salt and chosen knowledge—similar to an IP deal with—to finalize possession. Thereafter, holders might make use of `name_update` to change or renew their area and resolve .bit addresses by way of browser extensions, personal DNS servers or suitable software program—paying all charges in NMC and assuming the position of registrar.
On April 18, 2025, NMC trades at $0.98 per coin, a far cry from its all-time peak of $13.11 on Nov. 29, 2013. It has not revisited these lofty worth ranges since, and the token typically slips from collective reminiscence. Nonetheless, growth stays vibrant: in December 2024, Namecoin Core 28.0 Beta was launched, contributors introduced at key conferences all through 2024 and 2025, and new options like SocksTrace proceed to obtain funding from the NLnet Basis’s NGI0 Core Fund.
Though the community and token fade from mainstream crypto dialog as years roll by, Namecoin boasts one of many highest proof-of-work hashrates at this time. At 487.40 exahash per second (EH/s) on April 18, 2025, its computational energy is immense. This distinctive hashpower derives from merged mining with bitcoin. Merged mining permits bitcoin miners to safe NMC with out additional processing value. Consequently, a number of main BTC mining swimming pools allocate a share of their huge hashpower to Namecoin.
Namecoin’s enduring existence, sustained by merged mining and steady developer contributions, highlights its position as a pioneering experiment in decentralized area providers. Its sustained hashrate and ongoing protocol enhancements illustrate the crypto group’s dedication to Bitcoin’s sister chain. Whereas its token worth stays modest, Namecoin’s safety achievements may very nicely reaffirm its affect within the house going ahead.
