FAQ: What is Namespace?

Namespace addresses this unique feature. If one creates a namespace, that namespace will appear unique in the NEM ecosystem. For example, if one were to create a namespace called “apple” that namespace cannot be created by a second person.

Namespaces gives rise to a unique naming convention. Just like on the internet, a domain can have a sub-domain, namespaces can have sub-namespaces. And it is possible to create multiple sub-namespaces

Example below:

Namespace has a size limit of 16 characters, sub-namespaces have a limit of 64 characters.

To create a namespace you need:

• 100 XEM for the root namespace
• 10 XEM for every sub-namespace

For more information visit this link: https://blog.nem.io/maing-namespaces-and-mosaics/

ABOUT THE NEM BLOCKCHAIN PLATFORM

NEM is an out-of-the-box enterprise-grade blockchain platform launched in March 2015. NEM has industry leading blockchain features which include multisignature account contracts, customizable assets, a naming system, encrypted messaging, and an Eigentrust++ reputation system. Companies with legacy systems can “plug ‘n play” with NEM.

ABOUT THE NEM.io FOUNDATION LTD

NEM.io Foundation is registered in Singapore and is operating globally. It was launched to promote NEM’s blockchain technology worldwide. It is one of the most well-funded and successful blockchain technology projects in the cryptocurrency industry.

For more information about the NEM Foundation and its mission, you can follow us on Inside NEM, our Facebook page, NEM Singapore Telegram or visit our website.