Various innovative blockchain-related ventures exist to this very day. Not all of these efforts will gain mainstream traction, yet it seems Handshake is on the right track to making a lasting mark. This decentralized certificate authority and naming service provider aims to disrupt the traditional DNS system by promoting decentralization and transparency.
What is Handshake About?
For those unfamiliar with the Handshake project, the team is looking to create a decentralized and permissionless naming protocol. This is very similar to what the standard DNS service provides, but there are some crucial differences to take into account at the same time. More specifically, every peer of the Handshake network is constantly validating and managing the root zone. Assuming this project becomes a big part of the Internet at some point, it may effectively succeed in building an alternative solution to centralized Certificate Authorities.
Contrary to what some people might believe, the ultimate goal is to not displace traditional DNS by any means. Instead, the focus lies on replacing the root zone file and servers with a public commons. It is always better to give users viable alternatives, rather than effectively trying to destroy one of the cornerstones of the World Wide Web as people know it today. How viable this approach proves to be, is very difficult to predict at this time. It is still a relatively new venture which has a lot to prove and high expectations to live up to.
Core Features of the Handshake Protocol
Under the hood, Handshake provides users with a simpler and decentralized manner to register top-level domains. Once a domain is registered, it is added to the project’s zone file by any and all network participants. Users are also welcomed to act as a host and validator, but it is not a mandatory process. All of the entities in the existing root zone file are registered in the genesis block associated with this project’s own blockchain. This is a crucial part of the decentralized nature of this project, as blockchain technology allows for many different use cases which would otherwise not be possible.
The Native Currency
Registering domain names through the Handshake protocol requires the use of HNS, the native currency of this project. This coin system allows community members to organize auctions and place bids for to-level domains. It is also a viable solution to prevent spam on the P2P network. A total of 70% of all HNS have been granted to the Free and Open Source Software community, or FOSS. Developers can still partake in the coin distribution airdrops, which will remain ongoing for quite some time to come.
Will it be Successful?
It is always difficult to gauge whether or not a blockchain project can make a lasting impact of sorts. In the case of Handshake, it seems there is a chance things will improve for the better, although disrupting the DNS system in any way will not be that easy by any means. Getting consumers and service providers to switch from existing to new technology will always be a slow and painstaking process, especially where services like these are concerned.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.