What Handshake does

Handshake is a decentralized, permissionless naming protocol built on a UTXO-based proof-of-work blockchain that uses SHA3 and blake2b hash algorithms, a Flat-File Merkle Tree for on-chain state, and on-chain covenants to govern name registration. It is positioned as a peer-to-peer alternative to the ICANN root zone and centralized Certificate Authorities, allowing top-level domains and usernames to be registered, resolved, and renewed without a central gatekeeper. The native cryptocurrency HNS is used in Vickrey-style auctions for name allocation, and the winning bid is destroyed rather than collected, making the protocol deflationary and explicitly revenue-less.

The product surface consists of a small, open-source core stack: the Handshake Protocol itself, the hsd full-node daemon (Node.js), the hs-client CLI wallet, the hs-airdrop tool that let GitHub users and PGP WoT Strong Set participants claim an FOSS allocation of ~68% of initial supply, and the hs-miner proof-of-work miner. A third-party GUI wallet, Bob Wallet, fills the end-user UX gap. Handshake Development Inc. is the Delaware-incorporated corporate entity behind the project, headquartered at 353 Sacramento St, San Francisco, but the protocol itself is structured to have no Foundation, Committee, or Corporation in permanent unitary control; changes require community and full-node consensus.

There is no traditional business model: pricing emerges from on-chain HNS auctions, no entity collects fees, and the only external capital ever raised — $10.2 million in 2018 from a syndicate including a16z crypto, Sequoia, Founders Fund, Polychain, Pantera, DCG, Draper and others — was fully donated onward to FOSS and non-profit organizations, with sponsors receiving a 7.5% HNS allocation. Go-to-market is community-led through GitHub, IRC, Telegram, Matrix, Discord, Reddit and X, and the user base is horizontal: individual FOSS developers, open-source foundations, and non-profit infrastructure projects (Apache, Mozilla, EFF, Wikimedia, Tor, Internet Archive, FSF, Debian, GNOME, KDE, OpenSSL, Arch Linux, among others).

Name

Handshake

Legal name

Handshake Development Inc.

Website

https://handshake.org

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Handshake is a decentralized, permissionless naming protocol built on a UTXO proof-of-work blockchain that aims to replace centralized Certificate Authorities and the ICANN root zone, serving FOSS developers and non-profit open-source organizations through community-driven distribution.

Ownership category

akta.pro rank

Product category

Decentralized Naming Protocol

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Decentralized Identity (DID) & Identity Wallets (DID methods, DIDComm, identity agents) (FSAPACAG)

Keywords

• Decentralized naming protocol
• Blockchain DNS
• Proof-of-work blockchain
• Domain name registry
• Cryptocurrency auction

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations

Revenue model

1. HNS Token Name Auctions: Users bid HNS tokens to win name registrations via on-chain auctions. The winning bid amount is burned (destroyed), not collected by any entity, making it a deflationary mechanism rather than a traditional revenue stream for a company. As a decentralized protocol with no central entity, there is no company collecting revenue.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Handshake is a decentralized, permissionless peer-to-peer naming protocol that manages the root DNS naming zone as an alternative to existing Certificate Authorities and ICANN-controlled naming systems. It enables registration and resolution of top-level domain names through on-chain Vickrey auctions using the HNS native cryptocurrency token. The software suite includes the hsd full-node daemon, hs-client CLI wallet, hs-airdrop claiming tool for FOSS developers, hs-miner proof-of-work mining software, and integration with the community-built Bob Wallet GUI.

Product overview

Handshake is a single decentralized naming protocol built on a UTXO-based proof-of-work blockchain. The product suite consists of the core Handshake Protocol (the decentralized root DNS naming system), accompanied by developer tools including hsd (the full node daemon), hs-client (the CLI wallet), hs-airdrop (the FOSS developer airdrop claiming tool), and hs-miner (the proof-of-work mining software). The community-built Bob Wallet provides a GUI alternative for end users. All components interoperate through the shared Handshake blockchain, which uses HNS coins to govern name registration via a Vickrey auction system and covenants (on-chain smart contract-like behavior) for name ownership management.

Differentiator

Problem solved

Functional benefit

Brands

• HNS (Handshake Coin): The native cryptocurrency token of the Handshake blockchain used for name registration, auctions, and network incentives.

Products and services

• Handshake Protocol A decentralized, permissionless peer-to-peer naming protocol that manages the root DNS naming zone, serving as an alternative to existing Certificate Authorities and naming systems. It enables registration and resolution of top-level domains and usernames secured by a proof-of-work blockchain using the HNS native token via on-chain auctions.
• hsd (Handshake Daemon) The full node software implementation of the Handshake blockchain, written in Node.js. It synchronizes with the network, manages the UTXO-based blockchain, executes naming consensus rules including covenants and the auction system, and serves as a root nameserver.
• hs-client (Handshake Client CLI) The command-line wallet and client tool for interacting with the Handshake network, used for managing HNS coins, submitting bids in name auctions, and performing name registration, update, and renewal operations.
• hs-airdrop A tool for free and open source software developers to claim their HNS airdrop allocation by proving ownership of a GitHub account (with 15+ followers as of Feb 2019) or PGP WoT Strong Set key. Generates and broadcasts a signed proof of public key ownership to the network for coin allocation.
• hs-miner The proof-of-work mining software for the Handshake blockchain. Implements the SHA3 and blake2b Hashcash proof-of-work function with DigiShield-style retargeting, enabling miners to participate in block creation and secure the network.
• Bob Wallet A community-built GUI full node wallet for Handshake, providing a graphical interface for managing HNS coins and names. Built by kyokan and recommended as an alternative to the hsd CLI tools.

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

13 partnerships are on record, tiered minor.

• Apache Software FoundationminorOthers · 1 January 2019Non-profit organization supporting Apache open-source software projects. Received a grant from Handshake's FOSS funding program.
• Mozilla FoundationminorOthers · 1 January 2019Non-profit organization behind the Firefox web browser. Received a grant from Handshake supporting open-source internet infrastructure.
• EFF (Electronic Frontier Foundation)minorOthers · 1 January 2019Digital rights advocacy organization. Received a grant from Handshake's FOSS funding initiative.
• Wikimedia FoundationminorOthers · 1 January 2019Non-profit operating Wikipedia and other wiki projects. Received a grant from Handshake.
• Tor ProjectminorOthers · 1 January 2019Non-profit behind the Tor anonymity network. Received a grant from Handshake supporting privacy-focused internet infrastructure.
• Internet ArchiveminorOthers · 1 January 2019Digital library and web preservation organization. Received a grant from Handshake.
• Open Source InitiativeminorOthers · 1 January 2019Non-profit dedicated to open source software advocacy. Received a grant from Handshake.
• FSF (Free Software Foundation)minorOthers · 1 January 2019Non-profit promoting freedom in software. Received a grant from Handshake.
• Debian ProjectminorOthers · 1 January 2019Community-driven Unix-like operating system project. Received a grant from Handshake.
• GNOME FoundationminorOthers · 1 January 2019Non-profit supporting the GNOME desktop environment. Received a grant from Handshake.
• KDE CommunityminorOthers · 1 January 2019International free software community producing KDE software. Received a grant from Handshake.
• OpenSSL ProjectminorOthers · 1 January 2019Open-source implementation of SSL/TLS protocols. Received a grant from Handshake.
• Arch LinuxminorOthers · 1 January 2019Linux distribution community project. Received a grant from Handshake.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Cloudflare: Major internet infrastructure provider operating DNS, DDoS protection, and certificate services. A broad incumbent in adjacent infrastructure layers that could enter or absorb decentralized naming, and whose centralized resolver services represent a current point of failure Handshake aims to address.
• Verisign: Operator of the .com and .net authoritative registries and two of the internet's thirteen root nameservers. The dominant incumbent in centralized DNS infrastructure that Handshake explicitly aims to disintermediate — a useful comparator for market scale and operational complexity.

Emerging players

• Stacks (formerly Blockstack): A Bitcoin-anchored smart contract platform that includes BNS (Blockstack Naming Service) for decentralized identity and naming. Comparable as an alternative decentralized internet infrastructure stack, with broader ambitions in DeFi and apps that Handshake has explicitly avoided.
• Spruce ID: A decentralized identity company focused on DID, verifiable credentials, and wallet-based authentication using Ethereum and other chains. Comparable in the broader decentralized identity category, with a more enterprise/developer-tooling focus and direct overlap with the DID/W3C standards Handshake's naming model supports.
• Polkadot Name System (Polkadot Identity): Decentralized identity and naming layer within the Polkadot/Kusama ecosystem. Comparable as a multi-chain DID and naming primitive, with a different architecture (substrate-based, NPoS consensus) and access to a growing parachain ecosystem.

Direct peers

• Ethereum Name Service (ENS): The dominant decentralized naming protocol on Ethereum. Directly comparable to Handshake as both offer blockchain-based human-readable name registration and resolution, with similar use cases for wallets, websites, and decentralized identity. ENS is the most direct competitor and the market leader in the Web3 naming category.
• Namecoin: The original Bitcoin-forked blockchain implementing decentralized DNS via .bit domains. The conceptual predecessor to Handshake, sharing the UTXO/merge-mining design philosophy. A direct historical peer demonstrating the long adoption curve and limited mainstream traction of blockchain-based DNS.
• Unstoppable Domains: A blockchain-based domain name provider offering NFT-based domains (e.g., .crypto, .nft, .wallet) as one-time purchases. Directly competes with Handshake in the decentralized naming space, with a more consumer-focused go-to-market and broader wallet/browser integration footprint.
• Solana Name Service: Decentralized naming service on Solana offering .sol domain registration. A direct peer in the Web3 naming category, leveraging Solana's high-throughput, low-fee chain to compete on user experience — a structural advantage over Handshake's UTXO architecture for retail adoption.

Others

• ICANN: The non-profit organization that coordinates the DNS root zone and top-level domain namespace. Not a competitor but the governance and policy body that Handshake is designed to bypass. Relevant as the central counterparty whose role the protocol is structured to replace.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/hns
• GitHubgithub.com/handshake-org
• LinkedInlinkedin.com/company/hns-handshake

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds3 records

Investors11 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Handshake