Please describe your proposed solution
In the Internet Domain Name System (DNS), a single entity, Internet Corporation for Assigned Names and Numbers (ICANN), determines the allowed top-level domains and controls who is allowed to sell second-level domains. A top-level domain is the “.com” in a website or service on the Internet, while a second-level domain is the “example” in “example.com”, or the second dot-separated item, reading right to left. With this power to grant new names, comes the power to take them away. A recent political change in the ownership of the Chagos Archipelago has put the future of the “.io” top-level domain in question.
<https://domainincite.com/30395-future-of-io-domains-uncertain-as-uk-hands-over-chagos-islands>
The Handshake (<https://handshake.org>) blockchain is a purpose-built blockchain for decentralizing the top-level domains into a self-sovereign solution based on the proof of work algorithm which powers Bitcoin. It removes a central authority from the governance of names and replaces it with a decentralized, blockchain based solution.
Blink Labs and Gimbalabs will build a fully open source and self-service, cross-chain domain name system with marketplace infrastructure using Cardano smart contracts. Handshake top-level domain owners will be able to use their domains to create marketplaces for second level domains on Cardano. These domains will be stored as native assets on the Cardano blockchain in accordance with the design of the cardano-dns specification. Second-level domain owners will be able to use their domain assets to maintain their DNS domains via smart contracts, without a third party. These domain assets will be tracked and indexed by a custom DNS server (<https://github.com/blinklabs-io/cdnsd>), which is already built and released under an open source license. Blink Labs and Gimbalabs will build a DNS network using this server to service DNS requests for users.