Handshake, a new cryptocurrency was released this Thursday and is backed by some of the prominent players from the world of venture capital. A fund of about 10.2 million USD has been raised by some major Blockchain developers to replace the prevailing digital entities that authenticate the web payments.
The domain names get authenticated in the coming days can see a major change with the introduction of a new cryptocurrency called Handshake. Powered by the robust Blockchain technology, Handshake is expected to incorporate some much-needed features like reliability and security.
The new cryptocurrency enjoys the backing of some of the most established Blockchain developers and venture capitalists in the industry. An enviable capital of 10.2 million USD has been raised by Handshake to substitute the existing digital entities that maintain the current Internet infrastructure.
Notable experts like the creator of the Lightning Network of Bitcoin Joseph Poon, Christopher Jeffrey, and Andrew Lee are leading this protocol and project. The new cryptocurrency Handshake also enjoys the backing of 67 persons and funding is sourced from the likes of Greylock Partners, Sequoia Capital, Draper Associates, Polychain Capital, Founders Fund, and A16z.
Getting Familiar With Handshake
The key objective of Handshake is to qualify as a completely decentralized and democratic certificate authority. The technology behind the Handshake cryptocurrency does not eliminate the concept of DNS (Domain Name System). However, it intends to become a superior alternative option to the current certificate authorities.
The mere fact that the new cryptocurrency features a fully decentralized trust anchor to ensure a trusted domain ownership. According to the BlockExplorer News, the primary aim of this new project is to secure as well as simplify top-level registration of the domains.
This new cryptocurrency Handshake is an experimental initiative to improve the current domain registrars and the prevailing conditional access system. It also aims to improve the ICO (Initial Coin Offering) model itself.
[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]