The First Altcoin Network Namecoin Marks 13 Years With Unwavering Hashpower

by

On this blessed day, thirteen years past, behold the quaint spectacle of the first altcoin, Namecoin (NMC), which, like a stubborn specter at a dinner party, refuses to depart despite dwindling glamour. Launched on an auspicious April 18, 2011, its token’s sparkle may have dulled, but its network’s proof-of-work hashpower persists with the tenacity of a cat demanding supper.

Thirteen Years of Namecoin: The Altcoin That Won’t Take a Hint

Long after the enigmatic Satoshi Nakamoto heralded Bitcoin on Jan 3, 2009, exactly 835 days later (not a moment sooner or later), Namecoin materialized—an audacious offspring forked from Bitcoin’s code as if whispering, “Why not me?”

At its heart, Namecoin is a decentralized domain name system (DNS) and identity steward, cloaked in blockchain finery to shield the internet’s corridors from censorship and nosy parkers. It proudly offers “.bit” domains, which, unlike your usual web addresses, answer to no earthly authority. The “bitcoin.bit” domain enjoys the peculiar honor of being the very first non-fungible token (NFT) — thus proving even domain names can chase fleeting fame. 🎩

after about a dozen elusive blocks thwart all front-running swindlers, the `name_firstupdate` spell is cast with salt and desired details—perhaps an IP address, if you’re feeling adventurous—to cement your domain’s claim. Subsequent `name_update` charms permit renewal or modification, all payable in NMC. Then, the intrepid domain lord may navigate the internet’s labyrinth via browser extensions, private DNS servers, or compatible sorcery.

As of April 18, 2025, NMC trades at a humble $0.98 per coin, a far cry from its gilded peak of $13.11 on Nov. 29, 2013—proof that even blockchain royalty can suffer stage fright. Nonetheless, development dances on: December 2024 saw the birth of Namecoin Core 28.0 Beta, while contributors polished their wands at illustrious gatherings throughout 2024 and 2025. The mysterious SocksTrace feature still draws funding, thanks to the benevolence of the NLnet Foundation’s NGI0 Core Fund. 🧦✨

Though the network and token slip quietly from the limelight, Namecoin’s proof-of-work hashrate remains among the cryptosphere’s titans—an impressive 487.40 exahash per second (EH/s) as of this very date. This mighty force arises from merged mining with Bitcoin, whereby noble Bitcoin miners lend their enormous computational brawn to NMC’s cause at no extra toil. Thus, several leading BTC mining pools altruistically allocate their colossal hashpower to keep Namecoin ticking like an aristocrat’s antique clock.

So here we stand, bearing witness to Namecoin’s obstinate longevity—propelled by merged mining’s magic and tireless developers—that it might forever hold the title of pioneering decentralized domain sovereign. Though its token’s shimmer may be modest, Namecoin’s steadfast security and continuing innovations could well ensure its influence is more than just a footnote in the crypto annals.

Read More

2025-04-19 00:57