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Dogecoin

Dogecoin further reduces the confirmation times of transactions to almost 1 minute.

A direct drawback is that Dogecoin features slightly higher probability of generating orphan blocks when compared to Litecoin and Bitcoin. Similar to Litecoin, Dogecoin also relies on scrypt, and increases the total coin supply that are forecast to be generated to around 100 billion Dogecoins.

The Dogecoin currency has gained considerable traction as an Internet tipping system in which users grant Dogecoin tips to others in exchange for providing interesting or noteworthy content. At the time of writing, Dogecoin is among the top ten currencies with respect to the total market capitalization.

Namecoin

One of the first examples of the application of the blockchain is Namecoin [1]. Currently, the Internet Corporation for Assigned Names and Numbers (ICANN) governs nearly all top-level Web address domains such as ”.com.” Namecoin acts as a decentralized Domain Name Service that is resilient to censorship and serves as a new domain name system for registering Web addresses that end in ”.bit.” By doing so, Namecoin empowers its miners to distributively control domain names.

In Namecoin, each record consists of pair comprising a key and a value that can be up to 520 bytes in size. Each key points to a path, with the namespace preceding the name of the record. For example, key “d/example” signifies a record stored in the DNS namespace “d” with the name “example” and corresponds to the record for the example.bit website [1]. Note that the content of “d/example” should conform with the DNS namespace specification [2]. The current fee for inserting a record is 0.01 NMC (which denotes the currency in Namecoin) and records typically expire after 36000 blocks (approximately 200 days) unless they are updated. Similar to Bitcoin, Namecoin has a limited supply of 21 million Namecoins, which are released as a geometric series, by halving the generation amount every 4 years. Various statistics about the current usage dynamics of Namecoin can be found at http://namecoin.webbtc.com/stats.

Recent studies [3] have however shown that most users of Namecoin are not active and that the existing market for domains is almost nonexistent. For instance, [3] reveals that among among Namecoins roughly 120,000 registered domain names, only 28 have nontrivial content.

 
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