How it Works
Distributing ownership of the root zone to open source developers and the world via a coin faucet
FOR THOSE WHO BUILD AND SUSTAIN THE INTERNET
The majority of the initial supply will be distributed to those who made the internet what it is today.
First, the pioneers who were early inventors of the web, then to hundreds of thousands of Free and Open Source Community members who built the countless layers of technology needed to make the internet work.
If the valuation of Handshake reaches $50B within 3 years, the community should adopt a hard-fork, doubling the coin supply and gifting new coins to the worlds internet population, as widely as possible contingent upon community support. The community may elect to have future plans which differ, but there is heavy self- interested incentive to distribute to the world to provide sufficient incentive to adopt.
PHASE I: DISTRIBUTING OWNERSHIP OF THE ROOT ZONE
The Handshake project opens a faucet distributing HNS coins to 300,000 qualified Free and Open Source Software contributors. To claim a share, you must qualify through one of the following:
- GitHub accounts must be active in valuable FOSS projects. Processed on a weekly basis.
- freenode accounts must be more than six months old. These are prioritized over others due to high signal.
- PGP Web of Trust refers to the 60,000 in the strong set
- You can also apply in writing, with details of past projects and/or academic work
Once qualified, you can also nominate fellow FOSS contributors to apply.
PHASE II: MAINNET LAUNCH
The Handshake mainnet launches. Coin holders can start auctioning, registering, and transferring top-level domains.
The protocol requires an auction system for name registration, implemented as a blind second price auction, also known as a Vickrey Auction. Learn more
Handshake will initially work alongside the current domain name system; the Handshake genesis block contains a complete copy of the existing root zone. The most visited 80,000+ domains have been reserved for existing trademark holders to claim as TLDs. Learn how to claim your name
PHASE III: GLOBAL DISTRIBUTION
In the long term, Handshake could prove a model for universal basic ownership that actually works with self-interested community support - and may bring about a more open internet in the process. This could be achieved via cooperation with NGOs proposing a distribution strategy to the community or a decentralized peer-to-peer oracle system.