Great News, Namebase is Fixed and Operational Again
After about a month of patiently waiting and complaining daily about lack of communication, Namebase was finally able to sync their two hot wallets and resume operating as normal. At 6:14 PM Eastern time today, Namebase issued the following Statement:
“Update: our two hot wallets with sync issues are now back online and working through the backlog of transactions. Thank you @nod3ch (!!!). We will begin a full audit on all affected auctions and transactions and automatically issue refunds once complete.”
Pain to the growth of the Web 3.0 Handshake community
Many folks were left wondering what was going to become of their money, HNS, and Names in that were stuck over the past month.
If you are anything like me, you lack patience. After logging in for weeks and seeing the dreaded “Error contact support” message and absolutely no official updates, many of us in the Handshake community were angry at the handling of the situation. Almost daily I have been on the Namebase discord looking for updates and after several weeks of complete radio silence, I made it a practice to troll the channel daily.
Deeper understanding but still lack sympathy for Namebase
A few good things came out of this outage:
- I built my own HSD node
- I built several Python scripts to help the Handshake project
- I learned how the marketplace is structured
- I now understand the architecture behind the marketplace
Frustrated with the lack of updates, I made it my mission to continue my path to Web3 with my friend Nicky G. and see how far we could take it. Well.. after about 2 weeks of obsessing and spending a ton of time looking at a console, we spun up several HSD nodes, learned how to buy HNS outside of Namebase, use Bob Wallets, connect our wallets to HSD, fund the wallets, and automate batch OPEN’s, BID’s, REVEAL’s, & REDEEM’s.
The Web 3.0 Handshake Journey and lessons learned
This journey has taught me many things about the infrastructure and operations behind operating a HSD node but leading up to the crash Namebase was operating like a “lean startup” (per discussion in Discord. When Johnny W. left Namebase there was a noticeable decline in service and response. Chris M. (CIO) was left to do everything. I said many times that he is lead developer, tech support, and even mops the floor at night. But all joking aside, I think this major blunder brought the much needed attention and funds to properly staff the team. Since the crash, there have been several hires to the team however support could still improve greatly.
Starting a project and curious how to do something?
If you are starting your own project or would just like to learn how to do something to contribute to the project, feel free to shoot us a message. We will either help you or point you in the right direction.
The future of Handshake on Web 3.0
What is the future of Handshake Domains and Web 3.0? Will this blunder kill the project and send everyone running or will there be a run on the market? Based on some of the prices being paid for names over the past few weeks, my guess is that no one is going anywhere and once Namebase gets their act together and get the ACH connections re-established to fund accounts again, there will be a spike in demand and we will continue to see floor prices trend North. I hope Richard Kirkendall CEO of Namecheap is willing to make the time and financial investment to make Handshake the Web 3.0 gold standard. Most security problems rely on DNS, Handshake will solve them! Only time will tell and I am not a financial analyst and this is not financial advice! Cheers!
This article was written by dis0wned