Handshake Price(HNS)

Handshake, often referred by its token symbol HNS, is a decentralized naming protocol and peer-to-peer network designed to create a more secure and resilient internet naming system. It aims to provide an alternative to the existing centralized infrastructure that manages the internet's root zone, specifically the role played by the Internet Corporation for Assigned Names and Numbers (ICANN) and various certificate authorities. While the traditional Domain Name System (DNS) is decentralized in its operation, the root zone file—which contains information about Top-Level Domains (TLDs) like .com, .org, and .net—is managed by a central authority. Handshake seeks to replace this central authority with a decentralized blockchain. By doing so, it allows anyone to register and own their own Top-Level Domain without needing permission from a central entity. This setup is intended to reduce the risk of censorship, corruption, and single points of failure. The protocol functions as a Proof-of-Work blockchain, sharing architectural similarities with Bitcoin. It utilizes a Unspent Transaction Output (UTXO) model and includes specialized on-chain features called covenants to manage domain registrations and updates. The native token, HNS, serves as the primary utility for the network. Participants use it to bid on domain names through a specialized auction system known as a Vickrey auction. In these auctions, bids are submitted privately, and the winner pays the second-highest bid price. When a domain is successfully acquired, the HNS tokens used for the winning bid are typically burned, effectively removing them from the system to ensure the scarcity of the namespace. One of the project's unique characteristics is its focus on the free and open-source software (FOSS) community. At its launch, a significant portion of the initial token supply was allocated to software developers and open-source contributors as an airdrop to encourage a decentralized distribution of ownership. Handshake is designed to be backwards-compatible with the existing DNS infrastructure. It does not attempt to replace the entire DNS protocol but focuses specifically on the root layer. This allows users to access Handshake-registered domains through specialized resolvers or browsers while still being able to reach traditional websites. By decentralizing the root of the internet, the project aims to shift power away from central organizations and give individual users and developers direct control over their digital identities and online resources. Learn more

Looking to buy How to buy HNS? The process is simple and hassle-free! You can easily purchase HNS on LBank by following our step-by-step buying guide. We provide detailed instructions and video tutorials showing how to register on LBank and use various convenient payment options.

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