HandshakePrice

(HNS)

Handshake is a decentralized, permissionless naming protocol designed to replace the internet's root zone file with a blockchain. Unlike the current system where a central authority like ICANN controls Top-Level Domains (TLDs) such as .com or .org, Handshake allows anyone to bid on and own their own TLD, such as .brand, .crypto, or .community. It is fully backwards compatible with the existing DNS system but moves the trust from a centralized organization to a distributed network.

The primary difference lies in the hierarchy of the naming system. ENS operates as a registry within existing Top-Level Domains, primarily utilizing the .eth suffix. In contrast, Handshake allows you to own the TLD itself. While you might register a name under .eth on ENS, Handshake lets you own a root domain like .name and then issue subdomains to others. Handshake aims to decentralize the root of the internet, whereas ENS focuses on naming within the existing internet ecosystem.

Handshake names are acquired through Vickrey Auctions conducted on the blockchain. Participants submit a blind bid using HNS tokens. After the bidding period ends, users must reveal their bid. The highest bidder wins the domain but only pays the second-highest bid price. To manage the token's ecosystem, the winning HNS tokens are burned, effectively removing them from circulation. Users can participate in these auctions through supported platforms like LBank or directly on the blockchain.

Once a Handshake name is won in an auction, it is registered to the owner for a period of two years. To maintain ownership, the user must send an on-chain update or renewal transaction before the two-year expiration date. Failing to perform this renewal will result in the name returning to the public auction pool, where it can be bid on by others. Since ownership is tied to private keys, users must ensure their wallet access is secure to prevent loss of names.

Most standard browsers are configured to resolve domains via ICANN-managed root servers. Because Handshake operates on its own decentralized root zone, these browsers do not automatically know where to look for HNS domains. To access them, users can utilize specialized gateways, change their device's DNS settings to Handshake-aware resolvers, or run specialized software like Fingertip. This allows the user's local machine to recognize and resolve decentralized TLDs alongside traditional ones.

Handshake utilizes a Proof-of-Work (PoW) consensus mechanism with the Blake2B + SHA3 algorithm, secured primarily by ASIC miners. The project had a fair launch with no Initial Coin Offering (ICO). Instead, a significant portion of the supply was airdropped to hundreds of thousands of Free and Open Source Software (FOSS) developers. This distribution model was designed to ensure the ecosystem was bootstrapped by technical contributors and to avoid central concentration of the token supply.