Namecoin's DNS system is based on the concept of online Bitcoin cryptocurrency. Here, protection of a domain / DNS pair is provided by the method of distributed calculation of hash, so no one can withdraw your domain, as it recently happened with many torrent trackers and poker sites (more precisely, domain withdrawal requires computational resources incompatible with the importance of the task).
In addition, the impetus for creating this system became known failures in the DNS, which is generally
considered unreliable and vulnerable to
cache substitution .
Skeptics will say: well, of course, now you can, with money that nobody uses, pay for a site that nobody can enter. But there is another point of view: this is an alternative DNS system, and if its popularity grows at the same explosive pace as the value of Bitcoin currency, then who knows ...
In Namecoin, all calculations are performed in blocks separate from Bitcoin. The rest of the system is completely identical, but instead of individual coins, domain / DNS pairs are used here, and instead of financial transactions - new, first-update and update transactions. Accordingly, to get such a pair, that is, to register a domain, you need to calculate the Namecoin block on your computer (pay 0.01 NC). In short: install the namecoind, then launch one of the standard bitcoin miners and redirect it to the server and port where the namecoind works. The level of complexity is now very small, so even on a CPU you can quickly generate a block. Full registration and configuration instructions are
here .
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Each transaction is stored on each computer running on a distributed computer network. The domain registration period is considered to have expired after the calculation of 12,000 new blocks.
Now in Namecoin domains are registered only in the zone .bit. The power of a distributed computer network ensures that two identical domains do not appear and that your DNS address cannot be assigned to any third-party site.
Project code on githubIn order for Namecoin to gain popularity, you need to make a proxy, extensions to the browser and raise the DNS server.
On this topic:Pirates for creating an alternative DNS system