Namecoin NMC to ECC ECC Exchange

Crypto Pair Details: NMC to ECC

Namecoin NMC

Namecoin is a domain name registry service and was the first coin to fork Bitcoin. Similar to registering a .com or .io domain name, you register a .bit domain on the network. This domain is censorship-resistant and impervious to activity tracking. Governments and large corporations control traditional domain name services (DNS) servers. This control is how the Chinese government, for instance, can block websites that go against their beliefs. To prevent this level of censorship, Namecoin uses blockchain technology to distribute its DNS amongst the users on the network. A pseudo-anonymous founder by the name of “Vince” created Namecoin in 2011. Since then, Vince has disappeared, but a core development team has kept the project alive. The project has several developers listed on the official website and benefits from the contributions of numerous anonymous developers as well. Namecoin has been fully functional for a few years, now, and the development team posts updates several times a month. Namecoin was the first cryptocurrency to use Auxiliary Proof of Work (AuxPoW) for its consensus. By using AuxPow, Namecoin and Bitcoin can be mined simultaneously. In this consensus, the child blockchain depends on the proof-of-work of parent blockchain, which means If a new block is created on Bitcoin blockchain, it will also be added to the Namecoin blockchain. NameID is another technology brought by Namecoin. It serves as an open service for securely registering human-readable names in a decentralized way. NameID is a combination between Namecoin and OpenId, where users can easily convert their Namecoin Identities into OpenIDs. This makes NameID a solution to Zooko's triangle, which states that there are three desirable properties (Human-meaningful, Decentralized, and Secure) for name participants in a network protocol and any participant can only inherit two properties at a given time. Namecoin is among some earliest cryptocurrencies. During its existence in the market, it has seen a high volatility on some occasions, which can be attributed to many reasons. Namecoin has been around in the cryptocurrency market much longer than most cryptocurrencies today; however, despite this, it has not gotten much attention until recently. In 2014, it was among the top ten cryptocurrencies by market capitalisation, which is now changed due to the introduction of hundreds of new cryptocurrencies. Namecoin was abandoned by its creator which can be seen as a red flag by many. The project is currently being developed with the support from its community. The current team has been actively taking the project forward and also provides regular updates on social media channels.

ECC ECC

After the originators of ECC left the project for dead in 2015 a developer named Greg Griffith decided to take it over and revive ECC in 2017. Since that point Greg (main developer), his team and the newly grown community is working hard to push the project in the right direction: a new website has been set up, whitepaper and roadmap have been released and a completely new wallet (Sapphire) has been developed and will soon be released. Much more will follow... ECC is an open-source, innovative multi-chain platform. Our network operates with a financial core which allows it to function not only as a currency-transferring platform, but will also serve as a solid infrastructure for future commercial technologies. All of our multi-chain services are implemented with extra focus on user-friendliness, as well as offering unlimited commercial potential; all the while, maintaining a safe and decentralized platform. Our developers are currently engineering the multi-chain core with our flagship services such as: file transfer and storage; decentralized messaging and currency transfer; right on top of the blockchain. Our services implement ANS (Address Name Service); which means that users can send and receive coins and data simply by using nicknames rather than the long, cumbersome wallet addresses we are used to seeing. For ECC, this is only the beginning. When development of the multi-chain foundation is completed with our easily-navigable interface and open-source platform, future developers can create new services right on top of our network! Exciting, isn’t it? We think so too. At ECC, we strive to develop ground-breaking innovations; all with absolute privacy and security through our blockchain services.

SOURCE: COINGECKO

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