Onchain entrepreneur is where we highlight the incredible things happening on the blockchain for creators and entrepreneurs interested in leveraging its potential benefits for their creativity or ventures.
What is HNDL?
In the rapidly evolving landscape of blockchain technology, businesses are constantly seeking ways to integrate decentralized solutions to enhance security, efficiency, and transparency. That’s where HNDL (Handle Naming Decentralized Ledger) comes in — a transformative tool that simplifies the integration of blockchain into everyday activities and business operations.
HNDL is a Bitcoin handle naming system designed to give everyone a unique digital identity. Imagine having a unique name or “handle” that you can use across various internet platforms, from traditional Web 2.0 websites to the newer decentralized Web 3.0 applications. Each handle is a unique NFT, which means you own it and can transfer it if you wish. This is all possible using the security and interoperability of Rootstock and Bitcoin networks.
By building on Rootstock and Bitcoin Ordinals, HNDL taps into Bitcoin's unmatched security while leveraging Ethereum's flexible and powerful smart contracts from Rootstock. It even showcases handles on the layer 1 chain using inscriptions. The real kicker? HNDL can bridge to other EVM chains and create interconnected smart contracts, massively boosting its reach and functionality. This makes HNDL a versatile and robust decentralized handle naming system.
These handles can be enhanced with certifications and badges, creating value and trust. Users can also create sub-handles, generating a digital economy around their parent handle. This system helps users build their brand and simplifies Bitcoin transactions by using easy-to-remember names instead of long addresses.
In recent decades, businesses and trade have crossed geographic boundaries, becoming global and open in many ways. Nevertheless, the most fundamental challenge remains trust. The Bitcoin handle naming system aims to give everyone a unique digital identity that they can use freely across the internet. Will it be possible to imagine it as a global identity? These handles can indeed create a new layer of trust and simplicity in our digital interactions.
Before we explore HNDL’s real-world applications, let me illustrate some of the key terminology associated with HNDL that you need to know:
Handles: also known as parent handles, Unique identifiers (NFTs) with a .₿ suffix, like “nakamoto.₿”.
Sub-Handles: NFT’s Linked to parent handles, like “satoshi.nakamoto.₿”.
Expiration Timestamp: Shows when a handle expires.
Token ID: A unique number for each handle.
Halving: Every 8 years the registration/renewal fees are halved until the 9th cycle and resets back to the initials.
Token Bound Account (TBA): Allows each handle to have its own account for holding assets and interacting with dApps.
Note: All fees from sub-handle registrations goes directly to the parent handle owner. This creates an economic system similar to renting out properties, where parent handle owners can earn from sub-handle registrations annually.
Now let’s talk about how HNDL will evolve and redefine how we think about digital identity, blockchain integration, and beyond.
HNDL, the Handle Naming Decentralized Ledger, revolutionizes the blockchain ecosystem by providing unique handles as decentralized identifiers. These handles can store text-based information like IPFS hashes, notes, images, and legal documents, and can be converted into wallets with their own addresses for sending and receiving assets and interacting with dApps. This innovative system offers a multitude of use cases for a diverse range of users, from creatives to everyday individuals.
Now, I’m not going to explain what HNDL is here again, please read the posts above if you’re not familiar. But I did want to take a chance and pitch why you should keep an eye for it. I’ll keep it short and simple.
Mastercard’s launch of ‘Crypto Credential,’ which allows users to send and receive crypto using a username instead of a wallet address, exemplifies how HNDL can innovate the blockchain ecosystem. Similar to Crypto Credential, HNDL provides unique handles as decentralized identifiers, enabling users to store various types of text-based information and convert these handles into wallets with their own addresses. This simplifies transactions and interactions with dApps, making the process more user-friendly and accessible, just like Mastercard’s approach to improving the crypto user experience.
Digital Identity and Brand Building
Personal Branding for Creatives:
Artists and Musicians: Use HNDL to create unique handles that serve as their digital signatures. By linking their digital creations to these handles, artists and musicians can ensure authenticity and protect their intellectual property.
Influencers and Content Creators: Build and manage a personal brand with a distinctive handle. Sub-handles can be offered to loyal followers or clients, creating a personalized and exclusive community.
Gamers: Establish unique handles as digital identities across various gaming platforms. Link achievements, in-game statistics, and digital creations to handles, ensuring authenticity and recognition within the gaming community.
Professional Identity for Individuals:
Freelancers and Consultants: Establish a professional digital identity with a unique handle. Use the handle to showcase portfolios, receive payments, and manage contracts securely using blockchain and Holochain.
Job Seekers: Create a verified digital resume linked to a handle, featuring certifications, endorsements, and work history, making it easier for employers to verify credentials.
Secure and Simplified Transactions
E-commerce and Online Businesses:
Payment Simplification: Businesses can use handles to simplify payment processes. Customers can make payments to a recognizable handle instead of a complex wallet address, reducing errors and enhancing user experience.
Loyalty Programs: Issue sub-handles to loyal customers, which can be used to track and reward repeat business, creating a blockchain and Holochain-based loyalty program.
Personal Finance Management:
Secure Wallets: Individuals can use handles as smart contract wallets to securely manage their cryptocurrencies and digital assets.
Family and Friends Transactions: Sub-handles can be created for family members to facilitate easy and secure financial transactions within trusted circles.
Data Storage and Management
Document Verification and Storage:
Legal and Medical Records: Store important documents like legal contracts, medical records, and academic certificates securely using blockchain and Holochain. Handles ensure these documents are easily retrievable and verifiable.
Personal Data Management: Use the UpdateTokenURI function to store personal notes, journals, and other text-based data linked to a handle, ensuring persistent and tamper-proof storage.
Content Hosting for Creatives:
Digital Portfolios: Creatives can store and showcase their work, such as images, videos, and other digital content, directly linked to their handle. This ensures their work is easily accessible and protected from unauthorized use.
Interoperability and Cross-Platform Integration
Cross-Chain Interactions:
Multi-Blockchain Ecosystem: HNDL’s integration with Rootstock and Bitcoin networks allows users to interact with a variety of blockchain services. This interoperability enhances the utility of handles across different platforms.
Decentralized Applications (dApps): Users can use their handles to log in and interact with various dApps, ensuring a seamless and secure experience across multiple blockchain and Holochain environments
NFT Marketplaces:
Asset Management: Handles can be used to manage and trade NFTs across different blockchain platforms. The secure, verified identity provided by handles ensures trust and authenticity in transactions.
Dynamic Metadata: Store dynamic metadata linked to NFTs, ensuring up-to-date information about ownership, provenance, and status.
Community and Social Interactions
Decentralized Social Networks:
Verified Identities: Use handles as verified identities on decentralized social networks, ensuring users can trust the authenticity of the accounts they interact with.
Community Building: Create and manage communities using sub-handles, fostering a sense of belonging and trust within the network.
Event Management and Ticketing:
Secure Ticketing: Issue event tickets as sub-handles, ensuring secure and tamper-proof distribution and management. This can prevent fraud and ensure only legitimate ticket holders gain access to events.
Exclusive Access: Offer exclusive content or access to events through unique handles, enhancing the value proposition for fans and followers.
HNDL is poised to redefine digital identity, brand building, and secure transactions in the blockchain space. With its versatile applications, it’s more than just a technology — it’s a new way of engaging with the digital world.
The truth is, no one really know what the future of HNDL is going to be. The product is still in its incubation stage and who knows how many creators will stick to the platform, what features will be launched, etc. But I think that’s exactly what makes it such a great time to try using it and experimenting.
Simply put, it pays to be early.
I think if you’re a creator of any kind there’s no downside to exploring how HNDL can revolutionize your digital presence and interactions. This is an asymmetric opportunity in my opinion. I highly recommend checking it out to see how it can clarify your thinking on any potential project you’ve had in mind.
Feel free to reach out if you have any questions or need advice on getting started with HNDL.
Happy to help :)
Stay tuned for more updates and innovations from the HNDL team. We’re just getting started, and the future looks bright.
That’s all for today’s post!
If you’re enjoying my writing, please share it with your friends who you think should mint / collect as well 🤝
I’ll be back in your inbox on Wednesday.
I hope everyone has a great rest of the week :)
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