Namecoin is open-source technology that not only creates a private and secure cryptocurrency but also focuses on identity obfuscation. Namecoin is an experiment in making the internet more secure and private while also striving to resist censorship activity. The cryptocurrency is blockchain-based and is very similar to Bitcoin in structure; Namecoin was the first fork of Bitcoin and was the first altcoin to use a decentralized DNS. It was also the first to use merged mining, and Namecoin still offers the nearly instantaneous transactions of all other cryptocurrencies and eradicates the need for the slower, more expensive traditional banking services.