Handshake is a decentralized open source protocol for naming and routing Internet resources. It aims to replace the current centralized Domain Name System (DNS) system with a decentralized blockchain-based solution. The project focuses on creating a fairer and more accessible Internet, where everyone can register and control their own domain names without having to depend on centralized authorities.
Handshake's decentralized architecture is built on top of a blockchain, specifically, a fork of the Bitcoin blockchain. The Handshake blockchain uses a new consensus algorithm called "Proof of Work Name Service (PoWNS)" that is designed to be more energy efficient than traditional proof-of-work consensus algorithms used in other blockchain projects.
The Handshake protocol uses a new type of cryptocurrency called HNS (Handshake coin) as the primary means of interacting with the network. Users can use HNS to register new domain names, transfer existing domain names, and pay for other network services.
One of the main features of Handshake is its decentralized nature. Unlike traditional DNS systems that rely on a small number of centralized authorities to manage the root zone and control the assignment of domain names, Handshake is completely decentralized and controlled by its users. This means that anyone can register a domain name on the Handshake network without the need to go through a centralized intermediary.
Another key feature of Handshake is its focus on privacy and security. The protocol is designed to be more resistant to censorship and surveillance than traditional DNS systems. For example, Handshake domain names are not associated with specific IP addresses, making it more difficult for third parties to track and monitor the activities of specific users.
Handshake also aims to create a more equitable and accessible Internet by making it easier for underserved communities to register and control their own domain names. This includes communities in developing countries, as well as marginalized groups such as indigenous peoples and the LGBTQ+ community.
The handshake has a number of potential use cases beyond just domain names. For example, it could be used to create decentralized social networks, decentralized applications (dApps) and other decentralized services.
Despite these challenges, Handshake has a strong and dedicated community of developers and enthusiasts working to build and promote the project. If successful, Handshake has the potential to revolutionize the way the internet is organized and controlled, making it a more equitable, accessible and secure place for all.
In conclusion, Handshake is an ambitious and promising project that aims to create a more decentralized, fair and secure internet. Using blockchain technology and a new consensus algorithm, the Handshake protocol aims to replace the current centralized DNS system with a more decentralized and user-controlled system. With growing interest and support from the wider community, Handshake has the potential to become a key player in the development of the next-generation Internet.