Handshake
Handshake is a decentralized, permissionless naming protocol that aims to create an alternative to existing Certificate Authorities and naming systems using a coin system for name registration called Handshake coin (HNS).
Handshake Services
Handshake provides a decentralized, permissionless naming protocol. It offers an alternative to existing Certificate Authorities and traditional naming systems by leveraging its coin system, Handshake coin (HNS), for name registrations. With Handshake, participants can initiate auctions and place bids for top-level domains using HNS coins. The protocol also supports decentralized lookup of name records and maintains a decentralized trust anchor to establish domain ownership without relying on a trusted Certificate Authority.
Handshake Coin (HNS) and Auctions
Handshake utilizes a coin system called Handshake coin (HNS) for name registration. HNS coins allow users to participate in transparent name auctions, ensuring no single entity can dominate the registration process. The majority of initial HNS coins have been allocated to the Free and Open Source Software (FOSS) community. The protocol pre-reserves the top tens of thousands of domain names as per Alexa.com rankings to manage the system fairly. Registered names are valid for two years and can be renewed biannually.
Decentralization and Security in Handshake
Handshake operates on a fully decentralized model, with no singular Foundation, Committee, Corporation, or control entity. The protocol uses proof-of-work mining, mainly powered by renewable energy, to authenticate transactions and ensure security. Handshake's structure includes economic incentives to provide resilience against sybil attacks. The project also has mechanisms like merkelized proofs and proof-of-work to support light clients and enhance security. Furthermore, it enables the use of OpenSSH to store SSH fingerprints in DNS for decentralized verification.
Support for Free and Open Source Software (FOSS)
Handshake has a strong commitment to the Free and Open Source Software (FOSS) community. The project has received $10.2 million in sponsorship funding which has been allocated to support FOSS initiatives. A significant portion of the initial HNS coins is distributed to the FOSS community, ensuring they have the resources to participate actively in the protocol. This strategic support helps ensure sustainability and growth within the FOSS community.
Handshake Sunrise Period and Trademark Protection
Handshake includes a sunrise period that allows trademark holders to claim their names on the Handshake blockchain. This period is designed to protect intellectual property and prevent cybersquatting. Trademark holders can pre-register their domains before the names become available for public auctions. This proactive measure ensures that legitimate brand owners maintain control over their trademarks in the decentralized naming system.