The startup Onename made a big announcement at the Blockstack Summit 2015 where co-founder Muneeb Ali revealed the decision: it is switching from Namecoin’s blockchain to Bitcoin Namecoin network is not decentralized and the mining group Discus Fish controls 60-70% of its hashing power.
Namecoin is a blockchain-based Domain Name System (DNS) which became known an effective solution some five years ago. It was one of the first large-scale altcoins introduced in 2010; however, it has never been able to challenge the other competitors like Bitcoin, Litecoin and even Dogecoin.
According to a statement the startup will post a blog with more details on the latest decision. No commentary as of yet from the Namecoin founders has come.
DIS uses a unique way to create a ‘name’ or unique profile to accompany users’ online blockchain verified identity. Additionally, the open-source identity provider began its project in March 2014 with the ability to create a name instead of a binary number solution or a Bitcoin address. After the decision was made public, a lot of people in the community showed their happiness and said that it is after all the victory of the strongest blockchain.
Credit: mql5.com
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