An Introduction to Hash Name Service

Addresses on networks can be long and complicated, which opens the doors for mistaken identify and incorrect transactions. Domains are human readable names that refer to these complicated addresses, allowing for a more fluid communication landscape on networks. In the past, domains have been fundamental for the development of new platforms; both Ethereum and the Internet benefited from ENS (Ethereum Name Service) and DNS (Domain Name Service), respectively. Seeing this need on the network, Hashing Systems is unveiling Hash Name Service (HNS) for Hedera Hashgraph. This service is a domain name registry for addresses on the network. It will allow developers to create interoperable dapps, meaning that they will be able to refer to users using a standard naming system.

You can read more in our white paper here: https://docs.google.com/document/d/1_uZGOaEAU-7wynainezdheE4pqeELA7bd9uSJIfG3HI/edit?usp=sharing

Working on Hedera

Hedera Hashgraph promises to be the next step in crypto development and adoption. Taking a more sober and planned approach, the Hedera team has enlisted large, established companies to run the network alongside the Hedera team. Companies such as IBM, Tata Communications, Boeing, and Deutsche Telekom have joined this council and will take part in running nodes. This group, referred to as the governance council, not only legitimizes the network by the participation of international technology heavyweights, but also provides a stable hand to guide the network away from the unpredictable and unreliable nature of previous crypto platforms.

Hedera is also significantly faster than any other crypto technology. With a 10,000 transactions per second (TPS) rate, it eclipses Ethereum’s and Bitcoins less than 15 TPS.

Differentiating itself from the two largest crypto networks, Hedera is also patented. This protects actors on the platform from unwanted forking of the network. Unlike older cryptos, they have chosen to facilitate the entrance of large corporations. This comes with the expectation that the network is safe from being copied.

It is still yet to be seen how this innovative new platform will fare with time. As with any new technology, only its market performance will serve as proof of its utility.

The Mechanics of HNS

Domains on HNS will be registered through the HNS smart contract that runs on the Hedera network. To refer to someone’s identity, the smart contract will be called to return users addresses based on the HNS domains held by those users. Running the registry under a smart contract benefits from the security provided by the network.

Registering

Users can register domains on Hedera through the HNS dashboard. HNS will not only deploy domains, but also track the life of the domains and allow for domain trading.

Fees

Domains fees will function as a subscription, with domains costing 100 Hbar per year. The domain payments will be made through the Hedera Chrome extension. Following the deployment of a domain, the name then belongs to the user for the following year and opsen to be traded on the HNS market. Using HNS, users can also track the remaining life of their domains to ensure timely payments to maintain the domains.

Domain Pruning

If a domain isn’t renewed it may be pruned from the network. This process consists of users calling a domain to see if its rent has been paid. If the rent has not been paid, then the domain is automatically deleted. The reason it is only deleted when it is called is that the domain only runs when it is called. This ensures that the system remains efficient. Once an unpaid domain is deleted, any user can then register than domain through HNS.

HNS Integrations

Dapps and wallets can implement HNS names in lieu of the user’s account id. This creates a more organized identification system for developers as they do not have to build and store their own naming ledgers every time they make a dApp. HNS also provides for interoperable identities that users can take elsewhere. In this way, we creates a more seamless overall environment for the user as well as for the developers identifying their users.

Conclusion

HNS addresses the need to easily identify anything on the network. Given that domains have been key tools in the development of new platforms, HNS will be one of the fundamental building blocks on Hedera Hashgraph.