Handshake (HNS) — price, overview & secure storage

What is Handshake and who created it?

Handshake is a decentralized, permissionless naming protocol where every peer is responsible for validating and managing the root DNS naming zone. The primary goal of Handshake is to create an alternative to existing Certificate Authorities and naming systems, which are often centralized and vulnerable to hacking, censorship, and corruption. By decentralizing these functions, Handshake aims to make the internet more secure, resilient, and socially useful.

Key features of Handshake blockchain

Handshake operates as a peer-to-peer system validated by the network's participants. It is designed to experiment with new ways to enhance internet security and decentralization. The protocol seeks to address the centralization of internet services that began in the 1990s, which deviated from the original decentralized vision of the internet. By making it more costly to conduct malicious activities on decentralized systems, Handshake reduces the need for trusted centralized corporations to manage risks like spam and sybil attacks.

How Handshake transactions work

Handshake's decentralized approach involves every participant in the network taking part in the validation and management of the DNS naming zone. This peer-to-peer system is specifically designed to be resilient against sybil attacks, which are a common issue in decentralized networks. By building on top of a decentralized system, internet services and platforms can benefit from increased security and reduced reliance on centralized entities.