NameCoin is a storing system based on Bitcoin technology. The NameCoin cryptocurrency has many similarities with Bitcoin. For example, NameCoin’s value can’t be regulated and depends only on supply and demand, so it doesn’t have any fixed exchange rate. Besides that, NameCoin mining can be done the same way as Bitcoin, and the limit of issued coins is 21 million. The main differences of NameCoin and Bitcoin is the possibility of storing data within its own blockchain transactional database and the need of registering a unique domain name with a .bit address. The main issues appear with its choice of name because it can already be taken. Because of the domain name, it is almost impossible to turn off the system, as it would mean turning off the whole Internet.