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Like bitcoin, it is limited to 21 million coins. Unlike bitcoin, Namecoin can store data within its own blockchain transaction database. The original proposal for Namecoin called for Namecoin to insert data into bitcoin's blockchain directly. Namecoin's flagship use case is the censorship-resistant top level domain. A peer-to-peer network similar to bitcoin 's handles Namecoin's transactions, balances and issuance through SHAproof-of-work scheme they are issued when a small enough hash value is found, at which point a block is created; the process of finding these hashes and creating blocks is called mining.

The issuing rate forms a geometric seriesand the rate halves everyblocks, roughly every four years, reaching a final total of 21 million NMC. Namecoins are currently traded primarily for USD and other cryptocurrencies, mostly namecoin blockchain api online exchanges. To avoid the danger of chargebacksreversible transactions, such as those with credit cards or PayPal, are not advised since Namecoin transactions are irreversible.

Payments and records in the Namecoin network are made to addresseswhich are Base58 -encoded hashes of users' public keys. They are strings of 33 numbers and letters which begin with the letter N or M.

Initially addresses beginning with 1 existed but this was changed to avoid confusion with Bitcoin addresses. Each Namecoin record consists of a key and a value which can be up to bytes in size.

Each key is actually a path, with the namespace preceding the name of the record. The current fee for a record is 0. Namecoins used to purchase records are marked as used and destroyed, as giving the fee to miners would enable larger miners to register names at a significant discount.

In Septembera discussion was started in the Bitcointalk forum about a hypothetical system called BitDNS and generalizing bitcoin.

On block Namecoin activated the merged mining upgrade to allow mining of bitcoin and namecoin simultaneously, instead of having to choose between one or the other; this fixed the issue of miners jumping from one blockchain to another when the profitability becomes favorable in the namecoin blockchain api. Two years later, in June namecoin blockchain api, NameID was launched.

The main site itself is accompanied by an open protocol for password-less authentication with Namecoin identities, a corresponding free-software implementation and a supporting extension for Firefox. In OctoberMichael Gronager, main developer of libcoin, [30] found a security issue in the Namecoin protocol, which allowed modifying foreign names. It was successfully fixed in a short timeframe and was never exploited, except for bitcoin. In Februarya plug-in for Firefox compatible with Windows and LinuxFreeSpeechMe, was released, providing automatic resolution of.

This is available by downloading the Namecoin blockchain and running it in the background. Namecoin blockchain api month later, in MarchOnename was released. It is another identity system built on top of the Namecoin protocol that stores usernames and personal profile data in the Namecoin blockchain. Onename later in Namecoin blockchain api switched user profiles from Namecoin to the Bitcoin blockchain, citing the higher hashrate of Bitcoin as the reason. Namecoin blockchain api MayKevin McCoy and Anil Dash introduced Monegraph, a system that links Twitter accounts and digital assets such as artwork in the blockchain, allowing proof of ownership of such assets.

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October Learn how and when to remove this template message. Archived from the original on Interview on Alternative Currencies". Bitcoin's Revolution Moves Beyond Currency". Archived from the original on November 18, Retrieved 24 February Namecoin and Bitcoin will be The new anti-censorship and secure domain resolving Namecoin-based plug-in". Plans to Relinquish Namecoin blockchain api Control of Internet".

Ethereum Ethereum Classic KodakCoin. Dogecoin Gulden Litecoin PotCoin. Dash Decred Primecoin Auroracoin. Proof-of-authority Proof-of-space Proof-of-stake Proof-of-work system.

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We migrated our blog. Check out the new Blockstack blog! We're excited to announce that Onename is opening up its API to the outside world for developers to register, update, and perform lookups on blockchain-based user identities also known as blockchain ID.

Our API allows developers to register and update passcards while keeping ownership of private keys completely client-side. This is a big enabling factor for many types of decentralized applications. It greatly simplifies things for developers: The API is meant for ease-of-use and reliability.

The complexity of dealing with the blockchain is hidden from developers, as they don't need to run servers or deal with blockchain-level errors and can simply focus on their application logic. Further, most of the software underlying the API is open-source and developers can play with it themselves. We use this API in our own production system and a few companies like Stampery and Kryptokit have already started using it. If you're a developer, check it out and if you plan on using it too, we'd love to hear about how.

Check out the Onename API. The Onename API provides a common interface to a couple of separate sub-systems that we've built over the past year. Our current production system is built on Namecoin and we've solved several scalability challenges of Namecoin along with extending the basic functionality provided by the underlying blockchain. The Namecoin daemon namecoind is a monolithic piece of software where network operations, database management, wallet functionality etc is all done in the same process.

Further, namecoind currently has poor memory management. Figure a shows read performance for namecoind read calls for 30, passcards user profiles. We used a local client to avoid wide-area latency in our test runs. Namecoind, MongoDB, and memcached have comparable performance to a dumb echo server namecoind is making extra calls for certain profiles because of bytes per record limit. When namecoind has "enough" memory, read-calls are mostly network bound.

Figure b shows the performance of a single call to fetch the entire namespace data from namecoind-2GB, namecoindGB, and MongoDB respectively. Using namecoind for read-calls really shouldn't require this much memory. Memory requirements and reliability namecoind also crashes a lot are the two main reasons why instead of deploying a lot of namecoind nodes, we instead deploy our custom index of namecoind data available here.

One surprising use case of blockchain that we discovered is using it for cache invalidation. Our index of Namecoin data needs to stay in sync with the blockchain. Similarly, for building our search index, we get a copy of all passcards and process them. When passcards are registered or updated, we need to refresh our search index. This requires cache invalidation; our search index is made from a cached copy of the namespace and, as the original data changes, our index gets outdated.

Using the blockchain makes search index syncing fairly simple. The above figure shows our architecture for the search API. Onename API server is open to the Internet and can talk to our private subnet that runs namecoind nodes, search API server s , and the search index. Blockchain is kept in-sync by talking to the Namecoin P2P network and when new data is detected in blocks, the search API server triggers a search index refresh.

Explicit cache invalidation is a powerful use case of blockchain and we found it to be very useful. It only keeps UTXOs for addresses in your own wallet in the index. Jameson Lopp Bitgo has a great writeup on the challenges of blockchain indexing. The task requires going through all transaction in all blocks and saving only the outputs that haven't been spent yet.

Below are two observations:. This was inherently a linear operation and 1 decoding of data and 2 inability to easily find specific UTXOs slowed down processing. We quickly switched to saving decoded data from transactions in an external datastore MongoDB and created custom indexes to speed up processing.

The above graph shows the performance improvements from low-hanging fruit like database optimizations ensuring indexes for frequent queries, using find. Performance improvement from even basic optimizations was significant, given the large data set. We plan to look at ways to parallelize this operation more and will report back on any interesting findings. Meanwhile, try out our API and feel free to give us feedback!

Home Follow me Twitter Github onename. The API we're releasing today is important for two main reasons: Blockchain for Cache Invalidation: Below are two observations: