Namecoin s a cryptocurrency that is mined with Bitcoin software as bonus. It is based on the code of Bitcoin and uses the same proof-of-work algorithm. Unlike Bitcoin, Namecoin can store data within its own blockchain transaction database. Namecoin offers several innovation, such as the ability to store data within its blockchain or merged mining. Namecoin's flagship use-case is the censorship resistant top level domain .bit, which is functionally similar to .com domains but independent of ICANN, the main governing body for domain names.