| Handshake has taken a lot of lessons from previous attempts at alternative blockchain DNS roots like NameCoin. Here are some ways its different: - Handshake names are not *.bit domains like NameCoin they're actually top-level domains. This is because Handshake's purpose is not to decentralize domain names per se but too decentralize the root zone and create a more secure root of trust than Certificate Authorities [1] - Handshake name auctions were spread out over the course of the first year after launch to prevent early adopters from hoarding all the good names. For instance, .crypto was available in the first few weeks after launch but .information isn't available until next week. This is important because early adopters hoarding names prevents latecomers from supporting the protocol. - Handshake names are sold via vickrey auction instead of a flat fee. Different names are more valuable than others. Flat fee pricing allows a hoarder to arbitrage that fact by being first whereas auction pricing ensures that names are better distributed. .X sold for 311k HNS[2] (about $40k) whereas other names sell for a few cents. - Handshake has a light client[3] that can trustlessly verify DNS records on-chain. This is critical because very few people run full-nodes, so without a light client the majority of users would rely on third parties which provides worse security than users resolving names in a decentralized manner [1] https://news.ycombinator.com/item?id=20995969
[2] https://namebase.io/domains/x
[3] https://github.com/handshake-org/hnsd |
... and they have a million other little niche name spaces to compete with to reach the point of serving as "top-level domains". I can create my own alternate name space, too, and nobody will care about mine, either.