VC are investing in a new cryptocurrency: Introducing Handshake



The whole picture of how we authenticate domain names will probably see a complete overhaul, all supported by blockchain technologies. Just released, Handshake brings with it the necessary security and reliability on which we rely. Backed by successful venture capitalists and blockchain developers in the industry, Handshake raised $ 10.2 million to replace existing digital entities while maintaining our current internet infrastructure.

The project and protocol were led by Joseph Poon (creator of Bitcoin & # 39; s Lightning Network), Andrew Lee (stock market CEO), Andrew Lee (founder of Private Internet Access or PIA) and Christopher Jeffrey (CTO of Purse). The effort is also supported by 67 people with funding from A16z, Founders Funds, Sequoia Capital, Greylock Partners, Polychain Capital and Draper Associates.

The Handshake project commits to donate its initial funding of $ 10.2 million to FOSS projects, university research departments and more. The list of recipients includes projects and foundations such as Apache Software Foundation, FreeBSD, Reproducible Reproductions, GNOME, FSF, SFC, Outreachy, ArchLinux, Systemd and many others.

What Is Handshake?
to be a fully democratic and decentralized certification authority and naming system. The handshake does not replace the Domain Name System (DNS). It is, however, an alternative to today's certification authorities, which is to use a decentralized trust to prove ownership of the domain. Although the main objective of the project is to simplify and protect the registration of top-level domains, also making the root area uncensored, without permits and without gatekeepers.

A traditional root DNS supports the current Internet infrastructure and thus facilitates online access. The root servers that host the Internet publish the contents of the root zone files, which are responsible for Internet DNS functionality. DNS binds information to domain names and binds them to public IP addresses.

The way Handshake differs from this is that it is all equal. Each peer is responsible for the validation and management of the root zone (through the use of "client light"). All existing entries in the root zone file will form the block genesis blockchain that supports it. The same root zone will be distributed between the nodes that make up the chain. The implementation allows any participant to help host this distributed root zone and add it.

How does it work?
The handshake makes use of a coin system for registering the name (ie the handshake coin or HNS). It is the mechanism by which participants are able to transfer, register and update Internet domain names. Currently, Handshake has opened a tap to distribute HNS coins to qualified FOSS contributors. If you are one of these contributors and meet the project criteria, you can register here.

Once the HNS coins are distributed, the main Handshake network is started. A "mainnet" is the central part of a blockchain. In fact, it is the blockchain because it carries out the functionality of the transfer of digital currency from senders to recipients. This is the point at which coin holders can start to auction, register and transfer top-level domains.

With sufficient supportive cooperation and non-governmental organization (NGOs), Handshake will eventually migrate to more global distribution. Governance and maintainability of the project are and will continue to be guided by the community.

To find out more
You can find more information on the official Handshake website: https://handshake.org. In addition, all source codes can be accessed from the project's GitHub page: https://github.com/handshake-org.


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