The Dusk Network is a secure blockchain focused on issuing digital securities that aims to make transaction compliance automated, while maintaining user privacy and auditability. individual. According to Jelle Pol, business lead of the project it was created to digitize regulated (financial) markets. Built from the ground up to tackle challenges at the deepest level
The protocol combines a custom-built consensus mechanism and zero-knowledge cryptography to provide both compliance and security. The goal is to create a platform that eliminates the expensive middlemen present in traditionally regulated markets but maintains regulatory approval.
The Dusk Network recently transitioned to a public test network and plans to become a blockchain protocol that allows for easy deployment of Zero-Knowledge applications, which will make it the backbone of the dApp ecosystem. global, not allowed.
Dusk uses a Performant Consensus known as the Succinct Attestation Agreement, which enables instant settlement and immutability within 15 minutes.
To started with Dusk Network review, is a secure, fast and scalable solution. In addition, developers program privacy in the public ledger. In addition, Dusk Network review has the following technical advantages:
To be the main blockchain used for STOs, it is important for the team to provide both transaction privacy and compliance requirements. The privacy of transactions is one of the key elements of a regulated market.
It is important to know that as a layer 0 protocol, Dusk Network is different from other similar solutions, such as PolyMath, which acts as a for-profit middleman in the STO market, requiring fees and charges. Make money for success.
When you use those platforms, you also have to pay fees, which can run into the hundreds of thousands of dollars, for new STO campaigns. In contrast, Dusk Network is a protocol that makes their security token an open standard for everyone, just like the ERC-20 standard on Ethereum is open for all to use in ICOs. their.
That makes Dusk free to use, which is a huge improvement for projects looking to launch an STO.
Dusk network builds its infrastructure on the following principles:
The network guarantees complete privacy and promotes decentralized applications and third parties that comply with the network’s privacy requirements. This allows for significant cost reductions through a platform that allows third parties to conduct business transactions online while maintaining privacy.
Duck Network allows users to access without permission. Users can join and participate in the network with modest processing power and IT resources. All Dusk token holders can participate in the consensus.
On the Dusk network, transactions are fast and the final on-chain results are instant. This means that financial transactions cannot be changed on the platform. This is ensured by Dusk’s Distributed Financial Markets Infrastructure (dFMI).
The phoenix transaction model supports Dusk’s ability to provide privacy and anonymity. It anonymizes both transactions and smart contracts. It uses a hybrid privacy preservation model called Zedger based on phoenix. Zedger is primarily made for security tokens.
The security of the Dusk network is provided by the Segregated Byzantine Agreement (SBA) consensus mechanism. SBA combines ideas like hidden time-locked transactions and cryptographic classification with the reputation module. This ensures that the most trusted nodes are selected and promotes decentralization.
The native token of the Dusk network is the Dusk token used to initiate transactions, perform atomic swaps, and execute smart contracts. It also allows holders to participate in consensus and provides the primary medium of exchange on the Dusk network.
The Dusk Network uses Zero-Knowledge cryptography as a means to authenticate a variety of network activities. This includes transactions, service access, access to blind bidding auctions, and more.
In addition, the use of zero-knowledge cryptography means that users can participate without revealing their identity or any details of the transaction while providing accurate proof of computation in a way that is not possible. trust. All of these verifications are handled by browser nodes.
These nodes compete with each other by staking an undisclosed amount of Dusk tokens to participate in the block selection process. This creates process compliance as it creates an unaware proof that the transactions in the block have occurred.
Shifting the workload of verifying (and ultimately generating) zero-knowledge allows the community to add more computing power, thus leveraging game theory principles and moving Dusk forward. one step closer to becoming fully browser-based.
The Dusk Network uses its SBA to upgrade the underlying POS mechanism to support instant transactions and accuracy. With the implementation of the PLONKup and Zelbet upgrades as part of the Testnet 2.0 rollout, the Dusk network will have low gas fees. The network will also improve the performance of zero-knowledge smart contract execution while reducing the gas costs of all operations on the network.
In 2021, the Dusk network partnered with Harmony to create the PLONK platform together. The collaboration aims to develop the first standardized zero-knowledge proof system. The partnership will also enhance PLONK blockchain synchronization and strengthen cross-chain bridges. Dusk has partnered with Reserve, a blockchain company focused on creating a universal stable currency. It has partnered with Block Venture Coalition, an investor-focused and research-oriented organization.
Dusk has also partnered with CipherBlade; a blockchain forensics company focused on recovering stolen funds and controlling the crypto space with a focus on research and trends. It is affiliated with BlackRock, a financial regulator, Credit Suisse, a financial investment specialist firm, and TheNextWeb news, a news agency.
The Dusk Network platform is a blockchain project that is not only verbal but it is suitable for the daily use of its users. In addition, it is the first blockchain to have its own secret smart contracts that allow parties to reap the benefits of public blockchain technology while ensuring that their data remains private. private.
Dusk Network is ideal for:
In addition, the project proves itself to be a good choice for those who want to issue their own anonymous token based on blockchain. Dusk Network is trying to fight for supremacy not only with the anonymous crypto project but also with giants like Ethereum. Dusk Network acts as an underlying platform for third-party development. If Dusk Network continues to grow at the same fast rate, it has a good chance of succeeding.
The DUSK token is used for payments within the blockchain project. The main methods of the application:
This document discusses the unique features of Dusk Network, a blockchain protocol designed specifically for the security token market. The team has taken a comprehensive approach to creating a successful network that understands the market’s needs, and the technology being developed is advanced.
The team’s exclusive focus on security tokens before exploring other use cases is a significant advantage, but the success of the project will depend on how well the team markets their solution and launches STOs after the mainnet’s launch.
The security token market is an emerging market that has potential for growth. Dusk Network’s emphasis on catering to this market could give them a competitive advantage. However, other blockchain projects could also shift their focus to this market in the future. Therefore, it is important for Dusk Network to remain innovative and adaptable to remain relevant.
Overall, Dusk Network’s focus on the security token market and advanced technology make it a promising project. However, it is important to wait and see how successful the team is at marketing and implementing their solution after the mainnet’s launch.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Singapore, Singapore, 19th December 2024, Chainwire
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