Handshake is a permissionless decentralized system designed to encourage a distributed network of computers to administer a domain name ownership system.
CoinMarketCap currently ranks #366, with a live market cap of $98,807,879 USD. It has a total issue of 2,040,000,000 HNS coins and a floating production of 421,539,620 HNS tokens.
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Handshake seeks to solve this problem by establishing a decentralised internet based on a peer-to-peer architecture.
A consolidated approach is used by various players across the web, such as social networking aliases and subdomains. This implies that the systems rely on a system of trust — and are still vulnerable to cyber assaults and fraud.
On-chain smart contract features known as covenants are included in the naming system and are designed to control the usage of future transaction output.
Handshake’s core idea is to decentralize or minimize reliance on the Internet Corporation for Assigned Names and Numbers (ICANN.)
Handshake, on the other hand, seeks to increase online security through the implementation of a centralized application that is based upon the principles of Proof-of-Work.
“The Handshake naming protocol varies from its predecessors in that it has no concept of namespacing or subdomains at the consensus layer,” according to the white paper written by Handshake. Its role is not to replace all of DNS, but rather to substitute the root zone file and the gateway servers.”
Each peer is charged for verifying and administering the root DNS name zone under Handshake, with the goal of offering an alternative to present certificate authorities and addressing mechanisms.
Handshake’s major co-founders are Joseph Poon and Andrew Lee.
In early 2014, Lee left his position at Merrill Lynch to co-found Purse, one of the major Crypto marketplaces.
He and Poon had been talking about the concepts that would become Handshake for years before they co-founded the firm. Poon operated at a Big Four accounting firm before dabbling in cryptocurrency in between jobs. He also invented the Lightning Network and Plasma.
Boyma Fahnbulleh and Christopher Jeffrey are two more co-founders.
One of Handshake’s most distinguishing qualities is that it is not a blockchain initiative seeking to completely decentralize the present DNS infrastructure. Decentralizing the root zone — and/or top-level domains — is the goal. This is due to the fact that, except for the root system, DNS is already global.
ICANN was founded in 1998 as a non-profit collaboration of individuals from all around the world with the goal of making the internet more secure. It is one of the key goals of Handshake to minimize its dependency on this platform.
Handshake is traded on a number of exchanges. The most well-known exchanges for purchasing and selling Handshake are as follows: Bittrex, Gate.io, BigOne, MXC.com, and ZB.com
The large volume of Handshake coins is set at 2.04 billion, with about 355 million coins now in circulation.
Handshake is protected via the blockchain’s unspent transaction output (UTXO) and employs the same proof-of-work (PoW) techniques as Bitcoin.
Exchange inflows and outflows, paramount and technical differences, the news cycle, and the overall economic climate are all interlinked variables that impact HNS’s price and market cap.
After the sheer appraisal in the field of trading which is around 100% in just a matter of a certain countable transitional month, cryptocurrencies have suffered an intense depreciation due to their uncertain market nature.
Therefore, it’s wide enough to quote that Handshake HNS tokens have been upgraded to a new all-time high translation volume of almost $0.223 U.S Dollars per token.
In a nutshell, it is safer to say that Handshake HNS has blessed online traders to enjoy trading luxuries globally with the provision of ease through its secure, diverse, and viable transactional policies.
Handshake HNS Official Website –https://handshake.org/
Handshake HNS Twitter –https://twitter.com/hns
Handshake HNS Reddit –https://reddit.com/r/handshake
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