1. What is NMC?

NMC (Namecoin) is a token launched in 2011. It is a branch of Bitcoin, based on the same blockchain technology but with different design goals and application scenarios. Here are the main features of NMC:

1. Domain Name System: The primary use of NMC is as a decentralized domain name system (DNS). It allows users to register and manage domain names on the blockchain, which can be used to access websites and other online services without relying on traditional DNS systems.

2. Decentralization: The decentralized nature of NMC means that it is not controlled by any single entity, which allows for the registration and management of domain names to be completely open and transparent.

3. Security: NMC uses cryptographic technology to ensure the security and ownership of domain names, making it very difficult for domain theft and tampering to occur.

4. Community-Driven: NMC is a community-driven project, relying on the contributions and participation of volunteers for its maintenance and development.

Overall, NMC is a token focused on providing decentralized domain name services, aimed at offering internet users a safer and more open domain management system.

2. Who founded NMC?

NMC (Namecoin) was founded by Vincent Durham in 2011. Previous information may have been incorrect; Dirk Cabruja is not the founder of NMC.

3. Which venture capital firms invested in NMC?

According to the provided information, the text does not directly mention which venture capital firms invested in the token NMC (Namecoin). The text mainly discusses the investment situations of Ethereum and other token projects, such as:

• Early support for Ethereum from Wanxiang Blockchain Lab and Distributed Capital.
• Investors behind Axie Infinity, including Libertus Capital, Blocktower Capital, and Konvoy Ventures.
• Investors in OpenSea, including a16z, Cultural Leadership Fund, and Ron Conway.

Therefore, it is not possible to determine which venture capital firms invested in NMC from the provided information.

4. How does NMC work?

NMC (Namecoin) is a token based on Bitcoin technology, primarily used to provide a decentralized domain name system. Here are the key points regarding its operation:

1. Distributed Domain Name System: NMC uses blockchain technology to create a decentralized domain name system (DNS), ensuring that domain names are not controlled by governments or large corporations, achieving censorship resistance.

2. Domain Registration: Users can register domain names ending with “.bit” using NMC tokens, which are not subject to the limitations of traditional DNS systems, allowing for greater privacy and security.

3. Merged Mining: NMC implements merged mining with Bitcoin, meaning miners can simultaneously mine Bitcoin and NMC, enhancing miner profitability.

4. Transactions and Upgrades: The transaction and upgrade processes for NMC involve using NMC tokens as transaction fees, with upgrades conducted through bonded NMC tokens to ensure the security of accounts.

5. Security Features: The decentralization and censorship resistance of NMC enable it to provide more secure domain services, avoiding interference from governments or other authorities.

In summary, NMC achieves a decentralized domain name system through blockchain technology and merged mining, offering more secure and censorship-resistant domain services.