Dero (DERO)

What is DERO (DERO)?

Dero is the first cryptocurrency project to combine a proof-of-work blockchain with a DAG block structure and completely anonymous transactions. It aims to be a revolutionary improvement from existing privacy coins like Monero (XMR) or Z-Cash (ZEC). Dero intends to do that by combining the best of both consensus mechanisms.

Highlights of Dero

Dero aims to be the first CryptoNote blockchain to have smart contracts on its own chain without any additional layers or secondary blockchains. Designed from the ground up to support millions of users with enhanced reliability, privacy, security, and usability. Balances and transactions are kept confidential on the DERO blockchain. The DERO project was developed from scratch in Golang and is being developed by the original developers.

• The new DAG decentralized blockchain was designed from the ground up to support millions of users with enhanced reliability, privacy, security, and usability. No one can see your balance and transactions except you on the DERO blockchain.
• Designed from the ground up. The DERO project was developed from the ground up in GoLang and is actively developed by the original developers.
• Safe and confidential smart contracts. The Dero project aims to create a blockchain network that can serve businesses and individuals around the world, enabling secure, fast and anonymous transactions and smart contract execution.

The goal of the Dero project is to become a blockchain network that can serve businesses and individuals around the world, enabling secure, fast and anonymous transactions and smart contract execution. DERO aims to be an industry leader with features like DeroDAG technology, Bulletproof, and TLS encrypted networks.

DERO is a new experimental blockchain technology written in Golang with a focus on improving privacy and smart contracts while maintaining blockchain transparency and security. The goal is to create a single modern blockchain technology with enhanced reliability, privacy, security, usability and portability by combining some of the best proven technologies such as CryptoNote protocol and smart contracts to enable the creation of private smart contracts.

Blockchain is an open, distributed ledger that can reliably and reliably record transactions between two parties.

The CryptoNote protocol uses a distributed public ledger that records all balances and transactions of an embedded currency like Bitcoin. Unlike Bitcoin, CryptoNote transactions cannot be tracked on the blockchain in such a way that it is possible to know who sent or received money. The only people who have access to the entire data set of a transaction are the sender or receiver of the transaction.

A smart contract is a protocol designed to facilitate, verify, and enforce the negotiation or performance of a digital contract. Smart contracts allow you to directly execute contracts without the involvement of a third party. These transactions are trackable and immutable. Smart contracts were first proposed by Nick Szabo in 1994.

Main features of DERO

• CryptoNote Privacy: CryptoNote currency uses a distributed public ledger that records all balances and transactions of an embedded currency like Bitcoin. Unlike Bitcoin, CryptoNote transactions cannot be tracked on the blockchain in such a way that it is possible to know who sent or received money. Dero uses all aspects of the CryptoNote protocol's security features in its new blockchain technology to protect the identities of all parties involved in the transaction.
• Smart Contract: A smart contract is a digital, self-executing contract capable of enforcing the conditions set forth by all parties to the contract. The goal of a smart contract is to significantly improve the security of a contract while reducing the costs associated with traditional contracts.
• Atomic Swaps: Atomic Swaps make it possible to exchange one cryptocurrency for another without the need for a trusted third party. To prevent one party from depositing their funds, atomic swaps use so-called time-linked hash contacts (HTLC) to enable a trustless trading system.
• Mobile and Offline Wallets: As with any currency, some form of storage and varying degrees of financial availability are required. Dero offers users a full range of wallet storage options, offering solutions ranging from mobile mobile wallets to standalone hardware wallets with 2FA biometric identity protection (two-factor authentication). ).
• Light wallet: Instead of downloading the entire blockchain, lightweight wallets connect to randomly selected decentralized nodes to use the data stored there. This greatly reduces the amount of data required for transactions on the network, while keeping your private keys safe on your device and not on the server it is connected to.
• Subaddresses: This technology allows you to create additional public addresses for a wallet. This allows users to distinguish where payments are coming from, preventing the loss of privacy caused by linking transactions to a public address.
• Blockchain Escrow Services: Escrow services can leverage Dero blockchain technology by using it as a trusted third party. In this case, the financial instrument or asset is registered in the blockchain and stored until the appropriate instructions are given or until the contractual obligations are fulfilled.
• Signatures and proof of address: Similar to how a certificate authority can issue a passport or driver's license, an individual can receive a digital signature and pre-authorization, stored in their personal wallet on blockchain.
• Voting: Using blockchain technology, any group or organization can create a secure and transparent voting system, while maintaining complete anonymity among voters.

Roadmap

Updating...

Read Full Article: Click Here