|Market Cap||$ 14.5M|
|Volume 24h||$ 73.0K|
Handshake (HNS) has recently increased, with its current price at $ 0.02337251 per unit. The cryptocurrency saw a change of +7.09% in the past 24 hours. Given the volatile nature of cryptocurrency markets, prices can fluctuate considerably in a short amount of time.
Handshake is a unique project in the cryptocurrency space, focusing on decentralizing the way we use and trust names on the internet. It's essentially a decentralized, permissionless naming protocol where every participant in the network takes part in managing the root DNS naming zone. The core idea behind Handshake is to offer an alternative to traditional Certificate Authorities and naming systems, by creating a system less vulnerable to hacking, censorship, and corruption, through a distributed network.
Handshake was developed by a group of engineers and entrepreneurs who are passionate about returning the internet to its decentralized roots. The team behind Handshake sees an opportunity to reduce reliance on centralized systems that hold control over internet naming conventions. They have not only created a new blockchain but are also attempting to solve a fundamentally different problem than just creating another digital currency.
At its core, Handshake works by enabling each peer to validate transactions and manage the DNS naming zone. This approach is fundamentally different from the traditional DNS system, which relies on a few centralized entities to manage domain names. Handshake decentralizes this process, aiming to make internet names more secure by using a blockchain to distribute the authority among many participants, thus reducing points of failure and potential attacks from hackers or censorship from centralized entities.
The uniqueness of Handshake comes from its focus on decentralizing internet names and its approach to domain name registration and ownership. Unlike the traditional DNS system, Handshake distributes the authority to manage the root DNS naming zone across a network of peers. This not only gives users more control over domain names but also aims to create a more resilient internet infrastructure. Furthermore, Handshake is designed to reduce the impact of sybil attacks and make it costlier for negative actors to abuse the system, through its peer-to-peer validation process.
Handshake's network security hinges on the same underlying principles as many other cryptocurrencies: a decentralized ledger and a consensus mechanism that requires network participants to agree on a single version of the truth. It uses proof-of-work (PoW) to secure its network, similar to Bitcoin, which requires computational work to validate transactions and manage the domain naming process.
Handshake’s main goal is to recreate the internet as a more decentralized space, in line with its original vision. The platform hopes to provide the tools necessary to rebuild internet services that have become monopolized by a few large corporations. Handshake aims to create an environment where internet services are less prone to censorship, less controlled by central authorities, and are more resilient to attacks.
The current circulating supply of Handshake (HNS) is approximately 618.8M HNS tokens, while the total supply eventually will be around 2.0B HNS tokens. The supply distribution is designed to ensure that over time more individuals can participate in the network and secure it.
Handshake envisions a future where internet services are built on a decentralized system that can effectively handle the various challenges of spam and online attacks, thereby reducing the need for centralized entities and trusted corporations to manage these issues. By creating a robust decentralized naming protocol, Handshake hopes to lay the foundation for a more resilient, secure, and user-empowered internet.
Handshake (HNS) can be purchased on various Bittrex, CoinEx, Hotbit, each offering different levels of liquidity and security. As with any crypto asset, it's important to do your research and choose an exchange that aligns with your security and trading needs.
Keeping Handshake (HNS) safe involves the same best practices for storing any cryptocurrency. It's crucial to use a secure wallet, which could be a hardware wallet, a software wallet, or even a paper wallet, depending on your preference for security versus convenience. Always remember to back up your wallet and keep your private keys confidential to ensure the safety of your Handshake tokens.