Handshake HNS Price

What is Handshake (HNS)?

Handshake (HNS) is a decentralized, permissionless naming protocol that aims to replace the existing certificate authority and naming system used for domain names on the internet. Launched in 2020, Handshake allows users to purchase and manage their own top-level domains (TLDs) without relying on traditional registrars. It utilizes blockchain technology to provide a secure, censorship-resistant, and tamper-proof method for domain name registration and resolution. Handshake's unique approach enables users to have full ownership and control over their domains, which contrasts with the current centralized systems where registrars can impose restrictions and fees.

Who are the Founders of Handshake?

Handshake was co-founded by a group of notable figures in the cryptocurrency and blockchain space. The primary founders include:

• Andrew Lee: A seasoned entrepreneur with experience in the tech industry and a passion for decentralization.
• Joe Andrieu: An expert in decentralized identity and security, Andrieu has been a significant advocate for blockchain technology.
• Michael McCool: A software engineer with a focus on open-source projects and blockchain applications.

The team also includes various contributors and developers from the open-source community, which has played a vital role in the ongoing development and promotion of Handshake.

How does Handshake Work?

Handshake operates using a unique consensus mechanism that allows users to bid on TLDs in an auction format. The process can be broken down into several key components:

• Auction Mechanism: Users can bid on TLDs using HNS tokens. Once a bid is accepted, the highest bidder wins the right to manage the domain for a specified period.
• Decentralized Naming: Unlike traditional DNS, Handshake uses a decentralized model where domain ownership is recorded on the blockchain, ensuring transparency and security.
• Integration with DNS: Handshake is designed to work alongside the existing DNS infrastructure, meaning users can access Handshake domains through standard DNS queries.
• Smart Contracts: The protocol employs smart contracts to facilitate domain transfers, renewals, and other operations, automating the processes traditionally handled by registrars.

This decentralized approach mitigates the risks of domain censorship and gives users more control over their digital assets.

Top Use Cases of Handshake

Handshake has several practical applications, including:

• Decentralized Domains: Users can create and manage their own TLDs, reducing reliance on central authorities and enhancing security.
• Censorship Resistance: Handshake domains are resistant to censorship, making them ideal for activists, journalists, and anyone needing a secure platform for expression.
• Decentralized Applications: Developers can build decentralized applications (dApps) that leverage Handshake's naming system, promoting a more open internet.
• Identity Management: Handshake can be utilized for decentralized identity solutions, providing users with ownership over their digital identities.
• Tokenized Domain Trading: Users can trade and invest in domain names as digital assets, similar to real estate, allowing for new economic opportunities.

These use cases highlight Handshake's potential to transform how domain names are managed and accessed across the internet.

How to Keep your Handshake Safe?

Ensuring the safety and security of your Handshake (HNS) holdings involves several best practices:

• Use Hardware Wallets: Store your HNS tokens in hardware wallets for enhanced security against hacks and malware.
• Enable Two-Factor Authentication: Use two-factor authentication (2FA) for any accounts associated with your Handshake domains or exchanges.
• Keep Software Updated: Regularly update your wallet software and any applications used for managing your Handshake domains to protect against vulnerabilities.
• Backup Your Wallet: Maintain secure backups of your wallet files and seed phrases to ensure you can recover your funds if needed.
• Be Wary of Phishing: Always verify the authenticity of websites and communications related to Handshake. Avoid clicking on suspicious links or providing personal information.

By following these precautions, users can significantly reduce the risks associated with managing their Handshake assets and domains.