Handshake focuses on decentralized domain names for carrying out registration and verification. As mentioned above, the Handshake algorithm incorporates a proof-of-work mechanism based on secure domain name registrations.
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By participating in the mining process, these miners contribute to the security and decentralization of the Handshake network and can earn rewards through tokens. Their efforts ensure that the Handshake ecosystem remains transparent. Miners with the Handshake algorithm are vital in enabling decentralization for utmost transparency.
What Is Handshake (HNS)?
Handshake is a decentralized permissionless system that is intended to incentivize a distributed network of computers to operate a system for domain name ownership.
Under Handshake, every peer is tasked with validating and managing the root DNS naming zone, with the objective of providing an alternative to current certificate authorities and naming systems.
Different participants across the internet such as social networking handles and domains rely on a centralized approach. This means the systems depend on a system of honesty — and are still prone to cyber attacks and fraud.
Handshake aims to eradicate this problem by creating a decentralized internet that relies on a peer-to-peer system.
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