Can Namecoin obsolete ICANN (and more)?
theumlaut.com
theumlaut.com
http://tools.ietf.org/html/draft-grothoff-iesg-special-use-p...
Whitepaper and FAQ are not quite up to date but you get the idea. From: https://github.com/nmushegian/dns/blob/master/whitepaper.md#...
- Namecoin issues new coins to miners as a reward for performing merged mining with the Bitcoin network. The namecoin supply is being inflated at nearly 30% per year for several more months, then over 10% for the next several years. Domainshares only ever shrink in supply, when fees are destroyed as implicit dividends.
- Namecoin attempts to service multiple namespaces at once. .p2p is highly specialized for servicing the .p2p TLD namespace. The use case is the same as Namecoin's "d/" namespace, which is used for the .bit TLD.
- Namecoin's name registration price is fixed at any given time and is independent of the name itself. Domainshares utilizes an auction-like mechanic to incentivize price discovery for names, making sure the final owner pays what it is actually worth. The majority of the final cost will have gone to the network as dividends by the time the auction is over, with a small fraction having gone to bidders as a reward for price discovery.
- As a result of the fact that domains are expensive and there are dividends on shares but not domains, there is a high opportunity cost to squatting: holding a domain without making good use of it.
Domainshares utilizes an auction-like mechanic to
incentivize price discovery for names, making sure
the final owner pays what it is actually worth.
How would this work for, say, google.com ?- The price starts at 0 and people bid it up to the market value
- If someone makes a bid B1, then someone makes a next bid B2 = B1 + D, then person 1 receives (B1 + D/2) and the remaining D/2 gets paid as fees to network (and thus become shareholder dividends)
- This incentivizes people to bid up the price to what they consider the market value, because of the extra portion they receive when they are outbid
- This also disincentivizes squatting because you will pay more for buying and selling the domain than you would have received as network dividends had someone else just bought the domain
And as an end user, I don't know if visiting or e-mailing wikipedia.org will take me to an encyclopedia or a cybersquatter or a porn site?
Who exactly benefits from this system, except for 'the network'?
The technical fact that it is blockchain-based really doesn't make much difference as it's incredibly unlikely to be adopted worldwide, due to the network effect of the already-established domain name system.
It's a hurdle, but it's not insurmountable. The question is whether namecoin provides anything sufficiently more appealing to all players to overcome that headwind...
So the main feature of Namecoin - to provide a censorship-resistant, cryptographically untamperable set of domain name records - is also its biggest disadvantage, as recovery of any stolen domain names is entirely up to the goodwill of the thief.
This reason alone would make it very unappealing for most domain name owners, because as well as going against the established domain name system, it must also break societal expectations of redressing thefts through legal means.
And the above means zilch to the majority (let's pick an arbitrary 95%) of domain name owners (source: I am intimately involved in this business since the start and deal with these owners)
Do people seriously think that the millions of existing domain name owners are going to undo years of marketing effort for something that they don't even need? Local restaurant for example has no issues with censorship at least with respect to their website.
It's an interesting experiment though.
https://github.com/jminardi/syncnet
It was fairly easy to integrate
There is also an in-progress c++ implementation of the protocol in a different repo [1].
Even so, it's pretty clear that the thing isn't ready yet and even states that it shouldn't be used for anything other than test data.
- http://www.reddit.com/r/darknetplan/comments/227t7x/can_name...
- http://www.reddit.com/r/darknetplan/comments/227t7x/can_name...
Definitely looking forward to distributed storage apps; other projects in progress include BitCloud, MaidSafe, and Ethereum.
It would be like this, but worse: http://www.dailydot.com/business/bitcoin-child-porn-transact...
Datacoin has the storage capacity to include the actual images as part of the blockchain though, not just (probably quite ephemeral) links to such.
The system really maps the real world onto computers very well, in that it reduces what used to be technical issues to "political" issues. These systems work on concensus, and as such, require a significant amount of interested parties to work in the expected way. They are very much subject to network effects that only occur after critical mass is reached.
Namecoin, in particular, was subject to a major security issue last year: http://www.reddit.com/r/Bitcoin/comments/1ohyom/fatal_flaw_i...
Blockchains are being used to implement solutions to different problems, and they could really solve some significant problems such as decentralized identity and reputation management (!). The difficulty lies in creating a significant enough "currency" so that miners will become involved and make the blockchain stable and reliable.
Bitcoin is a currency in a much stronger sense than namecoin or any other of "not-really-money-coins" around. I wonder if piggybacking on bitcoin might actually be the solution for this situation (i.e introduce other information in the bitcoin blockchain instead of using a brand new one).
Sadly, adding external information to the blockchain could be construed as "spamming the blockchain" and therefore not deemed worthy for inclusion in the bitcoin blockchain by miners. So there is a big challenge there.
If you are interested in this topic and want to work on related projects feel free to reach out (google my username).
Author of the original article here. Namecoin is actually merge-mined with Bitcoin, so miner participation is not a serious problem. There's no way you could have known that without happening to know that, though, and I agree that this is an issue for a lot of new blockchain-based technologies.
Here's some information on merge-mining for anyone else involved: http://bitcoin.stackexchange.com/questions/273/how-does-merg... http://dot-bit.org/Merged_Mining
Do you know how that came to be? i.e how did they convince everyone to start mining namecoin? Or was it just good timing WRT bitcoin?
"Enter The Blockchain: How Bitcoin Can Turn The Cloud Inside Out"
http://techcrunch.com/2014/03/22/enter-the-blockchain-how-bi...
What I'm interested in the most would be a new way to do Email. P2P and secure. I can't believe that most of us are still sending Email unencrypted but then again can you really blame us? PGP has failed not only in its main use case (trust in people, really?) but most of all in terms of usablity.
$ dig @dns.dnschain.net okturtles.bit
$ curl http://dns.dnschain.net/d/okturtles
Both of them will resolve to whatever info is stored in d/okturtles domain.
With the (soon-to-be) DANE support (for those who forgot: DANE is about distributing TLS keys through a channel you trust (it comes from the domain you're visiting) but that is not the same as the final application (it's DNS, not HTTP/SMTP/IMAP/XMPP/etc), so you can prevent MiTM), I don't see what's missing technically to have our own internet.
Only to the extent that you and your visitors already have to trust your DNS provider, your domain registrar, the TLD registry, and the DNS root. Neither DANE nor DNSSEC intrinsically solve anything that hasn't already been solved for end users... particularly when you consider forwarders will have to accept unsigned zones for years to come.
Namecoin etc does go some way to "squaring Zooko's triangle" (as many good minds have discussed already) but proof-of-work chains have their own burdens, and are not any more immune to the lure of trading robustness and security for convenience than traditional DNS forwarders, online DNSSEC signing, or webmasters offering up their SSL certificates up to CDNs.
Which is not something I want to do, hence my push for namecoin :)
> proof-of-work chains have their own burdens
Do you have more information about how it can be detrimental to namecoin, specifically distributing DNS information ?
They could ask very nicely for ownership of them, or perhaps send you a court order depending on what country the both of you were located in. But unless you provide them with the private key or fail to renew your registration... nobody should ever gain control of any .bit domain.
A Kraken.com dev looking into the namecoin code found a flaw and declared on the Namecoin blockchain that "Namecoin died October the 15th 2013, coinslayer" by re-writing the DNS values for the very first .bit domain ever registered (which is bitcoin.bit).
The flaw allowed for some people to "steal" domain ownership, but a patch was put through and everything is back to normal now. As far as I know, all domains are back in the hands of the original registrars.
This link shows the entire debacle taking place: http://explorer.namecoin.info/n/1
Due to network effects, namecoin won't replace ICANN without making it better for all those organizations; and due to the core nature of namecoin, it won't be better for them.
Who are they registered by?
[1] No I don't really think Google would let that happen but Bob's Bakery Buns might and it could cost him his business.
It's also almost exactly the same as DNS regarding name changing. You have to wait about 10 minutes for the blockchain to register a name, and then about 24 hours before all the cache servers update it.
Change propagation, on the other hand, is as long as blocks can travel from peer to peer.
http://www.eecs.berkeley.edu/~rcs/research/interactive_laten...
Round trip in same datacenter: 500,00ns.
Disk seek: 4,000,000ns.
You have to lean on the numbers pretty hard to make the DNS faster, but it's possible it could be faster than your local disk.
There is a reason the root nameservers only delegate the act of name lookup at the top level. It's just not practical for them to have a complete list, and it's not even particularly desirable for users of it to have their list of names completely public (think internal servers).
It is possible to name a delegate nameserver through namecoin, I believe, but last I looked it was a bit iffy and it doesn't require any kind of authentication of results from the delegated nameserver a-la dnscurve.
Think about it...
Side note: Wikipedia is NOT the decentralized knowledge store of the planet. There is nothing decentralized about wikipedia.
It seems like that would be a good opportunity?
A non technical user shouldn't even have to own or even know about name coins.
They simply want a way to register a cheap, non-censorable domain, right?
I'm imagining someone would make a service that offers that.
If somebody gets your private key, they can "steal" your website away from you, sure. Just don't let anybody access your private key.
Most people don't want their technical infrastucture to be immune to law enforcement, just the contrary.
That's how Namecoin works.
Namecoin is just a name/value store system. That's it. It might not be perfect for DNS but it's being used for other things like https://onename.io right now.
The public can choose to use it in it's current implementation or build a better way of dealing with domain hijacking should they so choose.
Yes. Very true. For anyone interested in the above statment i'd highly recommend checking out http://twister.net.co/ - a decentralized micro-blogging spin-off of bitcoin. Unbelievable innovation is happening!
Some chose to refer to it as the dot-bit project as well.
I have never seen any arguments over the name.
namecoin == nmc == dot-bit