Author: Stefan Thomas 2011-12-13 02:39:42
Published on: 2011-12-13T02:39:42+00:00
In a discussion on the Bitcoin-development mailing list, Jorge Timón suggested using Namecoin as an alternative to FirstBits. However, Luke-Jr pointed out that Namecoin has the same problem as FirstBits in terms of domain grabbing, but .bit domains are cheap and make it easier for people to grab them. The problem with FirstBits is that the names already grabbed have fixed private keys that are known by their originators, making them untradable. Names in Namecoin can be transferred or traded securely, strong cryptography is built-in, and it shares mining without bloating the Bitcoin blockchain. It serves as a decentralized DNS alternative at a time when domain seizures are on the rise, even absent any court order. One suggestion was to use one of the DNS-based solutions that Amir suggested and require standard-compliant clients to be able to look up .bit (i.e., Namecoin) domains as well, providing a pragmatic solution while giving security and true decentralization for the more paranoid users.
Updated on: 2023-06-04T21:59:29.222329+00:00