Handshake: A multi-million dollar community experiment

Behind the huge investment is Handshake's unique concept of building a community ecosystem. It proposes a scenario similar to a social experiment, which funds developers through long-term and continuous community incentives, decentralizes power, allows the community to self-regulate and continuously build network infrastructure, thereby replacing the functions of centralized organizational structures and achieving different goals through economic adjustments within the community.

Through several large-scale disseminations, the project concept will be conveyed to the developer community, causing heated discussions, which is bound to arouse research and experimentation from some curious people. At the same time, there is free sponsorship, so why not do it?

(A developer's airdrop diary)

Many developers who received airdrops had only heard about the concepts of blockchain and cryptocurrency before, but had never really understood them. The guy in the picture recorded his experience of receiving airdrops in a diary, from the mechanism of the public chain to how the entire network operates, to the final cashing of participating assets, and tried everything himself. This refreshed their cognition and changed their views on crypto asset investment and emerging things.

(Original Bitcointalk post)

Speaking of the ancestor of domain name coins, we need to mention NameCoin (NMC), which is also a merged mining project well known to miners. It is an additional profit obtained when mining BTC (not enough to fill the gaps between teeth...).

The idea was originally proposed by Satoshi Nakamoto. He believed that the incentive mechanism of BitDNS could be that miners could obtain BitDNS at the same time when mining Bitcoin. If a Bitcoin miner obtained 50 BTC in a block, he would also obtain 50 BitDNS at the same time. Through a set of merkle tree technical solutions, the foundation of NMC was eventually formed. However, Satoshi Nakamoto, who was busy with his work, did not participate in the project development in the end.

But this project has several fatal problems: marketing and domain name registration

There is a problem of domain name squatting in NMC domain name registration. Some of the better domain names have already been controlled by speculators in the early days, and the remaining domain names are not of high value. This has resulted in a general lack of interest in participation and some disputes later on.

(NameBase transaction domain name interface, the btc top-level domain name has been locked)

In the conception of HNS, a large number of top-level domain names and commonly used domain names ranked high in the traditional Internet are first locked through pre-registration, and will be gradually handed over to existing related groups in the future. Most popular domain names will also be auctioned after a postponement. The auction is different from the Dutch auction, which was known to most people in the Algorand project last year.

Participants only know their own bids, and the winner will be revealed after the end. The winner only needs to pay the second highest bid, not the highest bid he or she has made. Such bidding can quickly close the deal and greatly increase the liquidity of domain names. Come and choose the top-level domain name with great commercial value in the future!

First, let’s take a look at the early token distribution of HNS

The project is currently in its second stage of development. The mainnet was launched in February, allowing users to reserve and auction top-level domain names. HNS will distribute decentralized domain names to verified contributors and partner organizations around the world.

(HNS mining revenue data)