The current state of domains

A quick rundown of the current domain name system.

At the moment, there exists around 1,600 top-level domains (eg: .com, .org, .io...) in the traditional domain name system. The process for creating a new TLD is controlled by ICANN (Internet Corporation for Assigned Names and Numbers).

Applying for a new TLD with ICANN cost over $200,000 and if accepted, could run into the millions. Leaving ownership of top-level domains out of reach for regular internet users.

In addition, annual fees amounting to $25,000 means the potential of losing your top-level domain if not compliant with ICANN, as seen with .top recently failing to make payments.

Most are fine settling with renting names on established extensions such as .com and leaving control with ICANN, though there are a myriad of issues that remain unresolved.

That is where Handshake comes into play.

What is Handshake and how does it work?

Handshake is a decentralized, permissionless, and blockchain-based naming system that allows for the true ownership of your online identity.

At its core, Handshake operates on a peer-to-peer network of computers known as nodes, just like Bitcoin and Ethereum.

These nodes work together to maintain a distributed ledger that records all name registrations and DNS records.

One of the main use cases for Handshake is to further decentralize the internet and provide the ability to own top-level domains at a fraction of the cost of traditional TLDs.

To register a top-level domain on Handshake, you use HNS currency to "mint" names directly onchain. You can also buy names on the secondary market such as Parked & Namebase.

://parked/ - Handshake parking service

The easiest way to currently purchase HNS and register names is through Namebase.io, though there are many different exchanges to purchase the coin, as shown on CoinMarketCap.

You can also mine HNS using Goldshell and Bitmain miners, which also supports the security and growth of Handshake.

The benefits of Handshake for internet users

With Handshake, you can register domains directly onchain, without the need for intermediaries. This not only reduces costs, but also reduces the risk of domain seizures and censorship.

Handshake also opens up a whole new realm of creative and personalized domain extensions. From .🚀/ to .runners/, the protocol allows you to choose from a wide range of names that reflect your interests, passions, and businesses.

This promotes innovation on the internet, enabling individuals and organizations to establish unique online experiences.

Check out this great article from Paul Webb called "Why Get a Handshake TLD?" that goes more indepth about the unique use-cases offered by Handshake.

Top sales on the Namebase marketplace

The protocol also provides the ability to host websites directly on a TLD, such as https://inspin/. Though before your able to visit a Handshake website, you must enable a HNS resolver.

To resolve Handshake websites, change your gateway address to one which supports HNS, such as hdns, or by using a SPV resolver such as Fingertip.

You can also use browers such as MASQ, Carbon, and Aloha browser or hns.to, rsvr.xyz gateways, which aren't as secure.

Once enabled, feel free to explore the ecosystem. Some useful websites include theshake/, dir.ectory/, and discuss.inspin/.

Impact of Handshake on internet security

Speaking of resolvers, let's discuss the many improvments HNS makes to internet security.

Traditional DNS relies on certficate authorities to ensure your connection to websites is secure. If a CA (certficate authority) were to get hacked, users could no longer trust the information entered into a website isn't being stolen.

Hacker using DNS hijacking to collect user data

Handshake solves this problem by allowing keys to be stored directly on the blockchain, which allow for secure connections to be made to websites.

The decentralized nature of Handshake also makes it more resistant to censorship. This means that even in countries with strict internet regulations, users can still access Handshake sites.

True ownership of your online identity

Handshake's approach to ownership removes the ability for centralized actors to seize names if held in a private wallet, thus providing a level of ownership that traditional domains lack.

In addition, Handshake uses a transparent auction system (vickrey auction) that allows for price discovery and gives participants an equal chance to win names.

We recommend bidding on a couple test names before starting an auction for a name you want, to see how the process works.

Bidding on names with Namebase.io (Bid + Blind)

One of the main wallets for Handshake is Bob Wallet. Bob allows you to both bid in auctions and use your names by setting DNS records.

Bob Wallet transaction history

Once you have a name, you can host your website on it, use it for signing into web applications, send crypto directly to the name, and many more use cases waiting to be developed.

Challenges & concerns with Handshake

Despite its potential, Handshake faces some challenges and concerns that should be considered.

One of the main concerns is the adoption and recognition of Handshake names by existing internet infrastructure.

This is obviously a huge hill to climb, though there are many reasons not to bet against it. For one, the system is already developed and has been running smoothly since 2020 with over 12 million names registered on the blockchain.

More over, many prominent companies and individuals have already claimed their names and many domain registrars such as Porkbun, Namecheap, 101domain, and EnCirca have adopted it for registration of SLDs.

So while Handshake is gaining traction, it still has a long way to go before it becomes widely recognized and integrated.

Though that dosn't mean you should just wait around, as there are many valuable names waiting to be registered.

Conclusion: The future of domain names

As Handshake continues to gain traction, it is poised to transform the internet for the better. Giving users more control over their digital identities, ensuring greater privacy and security on the web.

However, it is important to approach the adoption of Handshake with caution and address the challenges and concerns surrounding its implementation.

The future of internet naming looks bright. Let us know what you thought of the article in the comments and if you have any questions about Handshake. 🤝