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Before XVII century, it was called "Торг" (Marketplace).
About executions: contrary to popular belief, Лобное место was never used as an execution place. It was just a spot where tsar's heralds...

begemot: Красная площадь has had this name for centuries.

and yes, "красная" is used here in its old sense of "beautiful" or "excellent".

to waxwing: I believe that you are correct that the...