The idea was born back in 2010 when it was still possible to include that functionality into Bitcoin itself, yet it was clear back then we should not bloat bitcoin blocks with such info. The only way to run a blockchain with alternate rules was to fork Bitcoin (there was no concept of sidechains) — that’s why Namecoin token was introduced and became the first alternate blockchain.
As of now, it leverages the Merged Mining functionality, meaning the whole Bitcoin hashpower can mine Namecoin simultaneously with Bitcoin for free — sort of like two coins under one roof. FYI, an altcoin that should not be named does not leverage merged mining, meaning miners should choose whether to mine it or Bitcoin, that’s why it will die soon (without merged mining).
More to this, when atomic swaps become a thing, Namecoin’s blockchain will be in one network with Bitcoin’s, meaning the whole existence of a separate token won’t matter.
We (as a society) need a decentralized dns very much.
Yet there is a company named Blockstack (formerly OneName) that has a solution. Imaging what kind of solution? Exactly, we should bloat the bitcoin’s blockchain, cause, you know, ‘security’. Also, they are goin to introduce a token and join the family of insanity (hello filecoin). And it is a VC backed company, it won’t make what society needs cause it’s always about money, not society.
Please, take a time to research how beautiful Namecoin is, and educate others. Thank you.
Disclaimer: I don’t own a single nmc coin.