Can Someone Explain the Benefit of a Namespace?

Technical Discussion
#1

I have seen the post on what they’re about and read some other threads, but from what I can gather, there’s no real use for them yet. Why have them then?

I bought one (ouch after this recent increase, the “Rental” fee should say “Purchase” fee). Anyways, trying to get clarity on that if I’m buying (“renting”) the Namespace, then what on earth is the practical application for it? Or did I just put 100XEM into an account for something I can’t use.

Please enlighten me. No snark. Thanks!

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#2

Did you read tutorial about namespaces and subnamespaces be for you buy it? Here you are:


It’s rental because you rent it for a year.

#3

Gotcha. Thanks @CryptoBeliever. I read it after the fact like a doof.

What about practical application?

#4

I don’t know real use for only namespaces right now but they are needed to create mosaic. They work like domains in Internet and they create hierarchic structure. Because namespace is required to create mosaic it’s not possible to create scam mosaic with same name also. And you should now that mosaics (custom tokens) have very wide real use cases in apps. Namespace are more like they way to put an order.
Jeff introduce namespaces here:

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