Namecoin was introduced in April 2011, and is recognized as the first fork of Bitcoin. The cryptocurrency will never exceed 21 million coins, and uses an identical algorithm as Bitcoin. This is a proof-of-work system that works in a shared manner.
All transactions made in Namecoin are irreversible. Once they are made, nothing can be done to change them. They are also used mainly to trade with other cryptocurrencies, and to trade for US dollars. Hence why they are often used in online casinos.
