I am not sure if anyone has stumbled upon this yet but today I found some inforamtion about Namecoins. Basically from what I am reading a Namecoin is similar to a Bitcoin but Namecoins can only be used to register .bit domain names. .Bit sites are not being indexed by Google but to me this looks like a sort of underground internet with its own DNS servers. I can see this getting huge and we will just have to wait and see what happens. I have grabbed some excewrpts from the dot-bit.org website below.
According to the dotbit.com website here is exactly what a namecoin is:
What is a Namecoin
Namecoin is a peer-to-peer generic name/value datastore system based on Bitcoin technology (a decentralized cryptocurrency). It allows you to:
Securely register and transfer arbitrary names, no possible censorship!
Attach values to the names (up to 1023 bytes)
Trade and transact namecoins, the digital currency NMC.
There are plenty of possible use cases. Read more about Namecoin.
What is Dot-BIT
Dot-BIT, the first project using namecoin, is building a domain name system (DNS) using the .bit TLD. Our goal is to spread .bit domains by providing resources and tools to the community, from developers to end users.
Here is another good article with alot of information if you are wanting to mine namecoins.
Also here is a full list of registered .bit domain names so far. The site says there have been 7,622 domains registered so far…