Handshake

Purpose and Utility

Handshake (HNS) is a decentralized protocol designed to create an alternative to existing Domain Name System (DNS) root servers and certificate authorities. The project aims to create a more democratic and decentralized naming system for the internet, allowing users to register, own, and transfer top-level domains without relying on centralized authorities.

Business Model Analysis

The business model is based on enabling users to participate in domain name auctions and ownership using HNS tokens. The system allows for true ownership of domain names through blockchain technology, with no central authority controlling the namespace. This aligns with Islamic principles of fair trade and transparent ownership.

Real-World Adoption

Handshake has seen adoption among blockchain developers and decentralization advocates. Several domain registrars and web hosting services have integrated Handshake functionality, including Namebase and ENS+HNS integration projects. The network maintains active mining operations and regular domain name transactions.

Development Activity

The project maintains an active GitHub repository with regular updates and improvements to the protocol. The development team continues to work on expanding functionality and improving the user experience. There is a consistent level of technical development and community engagement.

Token Distribution

Initial token distribution included a significant airdrop to open-source developers and a fair launch mining system. The project did not have an ICO, and tokens were distributed through various mechanisms including faucets and grants to the developer community. This approach suggests a focus on community building rather than founder enrichment.

Additional Considerations

The protocol does not involve lending, interest-bearing products, or activities prohibited in Islam. The core function of domain name registration and ownership represents a legitimate business activity with clear utility. The system operates on Proof of Work mining, which is considered halal as it involves actual work and value creation.