15 Surprising Facts About Handshake (HNS)

Handshake (HNS) is a decentralized, open-source blockchain platform.

Handshake (HNS) is a revolutionary blockchain project that aims to decentralize the internet’s domain name system (DNS). It allows users to register and manage top-level domains (TLDs) without the need for intermediaries or centralized authorities.

Handshake utilizes a unique proof-of-work consensus algorithm.

Unlike traditional blockchains that rely on energy-intensive mining algorithms, Handshake utilizes a proof-of-work algorithm called “proof-of-work over SHA-3,” making it more secure, efficient, and accessible to a wider range of miners.

The Handshake project started in 2017.

Handshake was conceptualized by Joseph Poon and Andrew Lee with the aim of creating a more democratic and censorship-resistant internet infrastructure. The project gained significant attention within the blockchain community upon its announcement.

Handshake aims to create a decentralized root zone.

By enabling users to register TLDs through a decentralized system, Handshake aims to challenge the current domain name system’s monopolistic structure, reducing the control exerted by centralized authorities on domain registration and management.

HNS is the native cryptocurrency of the Handshake network.

HNS is used for domain purchases, transfers, and auctions within the Handshake ecosystem. It provides an incentive mechanism for users to participate in securing the network and contributing to its growth.

Handshake offers increased privacy for domain owners.

With Handshake, domain ownership can be pseudonymous, allowing individuals and businesses to register domains without revealing their personal information or being subject to censorship or domain seizures.

Handshake aims to bring more diversity to TLDs.

With Handshake, anyone can create their own TLD, opening up possibilities for customized and creative domain extensions. This can foster innovation and competition in the domain industry and provide more choice for internet users.

Handshake has garnered support from major technology companies.

Handshake has received backing and support from prominent technology companies such as A16z, Sequoia Capital, and Founders Fund, indicating the potential and interest in revolutionizing the internet’s domain system.

The Handshake community is actively engaged in project development.

Handshake has a vibrant and active community of developers, miners, and enthusiasts who contribute to the project’s growth. Through community participation, Handshake continues to evolve and improve its technology and features.

Handshake is committed to fostering a fair and inclusive domain ecosystem.

Handshake believes in creating a level playing field and preventing domain squatting by implementing an auction-based system for TLD registration. This ensures that TLDs are distributed fairly and that users who have a genuine interest in a domain have a better chance of acquiring it.

Handshake aims to increase internet security.

By eliminating potential vulnerabilities associated with centralized DNS systems, Handshake enhances internet security by providing a more resilient and censorship-resistant infrastructure for websites and applications.

Handshake aims to reduce domain name costs.

By removing the need for intermediaries and reducing the fees associated with domain registration, Handshake aims to make domain names more affordable and accessible to individuals and businesses worldwide.

Handshake has a long-term vision for mainstream adoption.

Handshake envisions a future where its decentralized domain system becomes the standard, replacing the current centralized infrastructure and empowering individuals to have greater control over their online presence.

Handshake has its own decentralized domain registrar.

Not just a blockchain platform, Handshake also has a built-in domain registrar called the Handshake Name System (HNS), allowing users to easily search for and register domains seamlessly within the Handshake ecosystem.

Handshake is actively supported by various development communities.

Handshake has gained traction and support from the broader blockchain and open-source communities. With numerous developers contributing to its codebase, the Handshake project is continuously evolving and improving.

Conclusion

In conclusion, these surprising facts about Handshake (HNS) showcase its potential as a revolutionary technology. From its decentralized nature to its secure and efficient protocol, Handshake provides a fresh perspective on how domains are managed and traded. With its focus on empowering individuals and reducing reliance on centralized entities, Handshake offers a decentralized alternative that promotes transparency, fairness, and ownership. As the digital landscape continues to evolve, Handshake is poised to play a significant role in reshaping the internet and enabling a more equitable and inclusive domain ecosystem.

FAQs

1. What is Handshake (HNS)?

Handshake (HNS) is a decentralized, peer-to-peer naming protocol that aims to create a more secure, censorship-resistant, and inclusive domain name system (DNS).

2. How does Handshake work?

Handshake uses blockchain technology to establish a decentralized infrastructure for managing and trading domain names. It leverages a consensus model called proof-of-work to ensure the security and integrity of the network.

3. How is Handshake different from traditional DNS?

Handshake differs from traditional DNS as it eliminates the need for intermediaries like registrars and certificate authorities. It enables users to register and manage domain names directly on the blockchain, reducing costs and increasing ownership rights.

4. What are the benefits of using Handshake?

Some benefits of using Handshake include increased security, improved censorship resistance, reduced reliance on central authorities, and the potential for decentralized ownership of domain names.

5. How can I get involved in Handshake?

You can get involved in Handshake by participating in the Handshake community, contributing to development, running a Handshake node, or exploring opportunities for building decentralized applications on the Handshake protocol.

6. Is Handshake a cryptocurrency?

Handshake can be considered a cryptocurrency as it has a native token, HNS, which is used for various functions within the Handshake network, including bidding on domain names and securing the blockchain.

7. Can I transfer my existing domain to Handshake?

As of now, it is not possible to transfer your existing domains to Handshake. However, you can participate in Handshake’s decentralized domain name auction process to secure domain names on the Handshake network.

8. Are there any limitations to using Handshake?

Handshake is a relatively new technology, so it is still in its early stages of development. It may have limitations such as lower adoption rates compared to traditional DNS and potential scalability issues as the network grows.