Namecoin is an open source technology which improves certain components of the Internet’s infrastructure (such as the Domain Name Service and online identities). The Namecoin blockchain, which is built on the Bitcoin technology, improves upon existing infrastructure by providing better decentralization, higher security, less censorship, increased privacy, and faster speeds to certain components. Other features include merged mining (where miners can mine more than one block at once), a solution to the Zooko’s triangle issue, and the attachment of identity information to domain names (and other services such as email, Bitmessage, and Bitcoin addresses). Users can also easily access .bit and .onion domains through Namecoin.
Namecoin (NMC) is the digital asset that can be sent over the Namecoin blockchain and used to power the various features of its blockchain.