Let's talk about Dusk Network $Dusk
This is a unique privacy blockchain that will make waves in the capital markets soon.
It is not a question of "if" but "when", so let's look at the tech, growth and the potential to help you make a decision.
This is a unique privacy blockchain that will make waves in the capital markets soon.
It is not a question of "if" but "when", so let's look at the tech, growth and the potential to help you make a decision.
Firstly,
What is $Dusk Network,
Dusk Network is a privacy-oriented blockchain protocol featuring Segregated Byzantine Agreement to provide privacy, programmability, and contract auditability for financial assets.
It is currently in testnet phase.
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What is $Dusk Network,
Dusk Network is a privacy-oriented blockchain protocol featuring Segregated Byzantine Agreement to provide privacy, programmability, and contract auditability for financial assets.
It is currently in testnet phase.
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Dusk Network aims to be a blockchain protocol designed for easy deployment of programmable "Zero Knowledge" dApps.
Becoming the backbone of an open, permissionless and global privacy-oriented dApp ecosystem.
Stay with me anon,
This is where it gets interesting.
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Becoming the backbone of an open, permissionless and global privacy-oriented dApp ecosystem.
Stay with me anon,
This is where it gets interesting.
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The Project aims to remove technical barriers that have hindered mainstream issuance and trading of products such as security tokens.
Compliance, auditability and privacy are built into the open, permissionless Confidential Security Token Standard ("XSC").
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Compliance, auditability and privacy are built into the open, permissionless Confidential Security Token Standard ("XSC").
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$Dusk Network brands itself as a privacy blockchain for financial applications. It is a layer-1 blockchain that powers the Confidential Security Contract (XSC) standard, and supports confidential smart contracts.
Aiming to tackle a Billion Dollar financial market problem.
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Aiming to tackle a Billion Dollar financial market problem.
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Central to its design are:
-a scalable public infrastructure
-direct settlement finality of transactions
-strict data privacy
Let's talk more about the intricate elements of $Dusk
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-a scalable public infrastructure
-direct settlement finality of transactions
-strict data privacy
Let's talk more about the intricate elements of $Dusk
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Through #Phoenix, a transactional model Dusk Network focuses to bring privacy and anonymity to transactions, as well as smart-contracts.
Through #Zedger, tokens can be built on top of this hybrid privacy model developed "specifically" for security tokens.
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Through #Zedger, tokens can be built on top of this hybrid privacy model developed "specifically" for security tokens.
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The ‘Segregated Byzantine Agreement’ (SBA) consensus mechanism secures the network.
SBA improves the PoS mechanism as it combines existing ideas like "cryptographic sortition (lottery), stealth time-locked transactions (hidden stake amounts)...
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SBA improves the PoS mechanism as it combines existing ideas like "cryptographic sortition (lottery), stealth time-locked transactions (hidden stake amounts)...
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And a reputation module to increase the chances of selecting honest nodes and further promote decentralization".
Now we have briefly discussed @DuskFoundation token.
Let us have a look at their vision, as well as how they plan to achieve it.
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Now we have briefly discussed @DuskFoundation token.
Let us have a look at their vision, as well as how they plan to achieve it.
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Dusk Networks's mission is to become "the privacy infrastructure of choice for an entire ecosystem of solutions, whether in finance, governance, cybersecurity, or something new".
$Dusk is designed for financial industry usage.
Specifically the security token market.
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$Dusk is designed for financial industry usage.
Specifically the security token market.
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To thrive in the financial industry, $Dusk will need to become compliant and retain full user privacy.
Let's discuss privacy.
Dusk provides full user privacy, while enabling decentralized application issuers and third-parties to create meaningful Zero Knowledge proofs.
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Let's discuss privacy.
Dusk provides full user privacy, while enabling decentralized application issuers and third-parties to create meaningful Zero Knowledge proofs.
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Which are used to fulfill checks and balances, and audit & reporting requirements.
Dusk is also "permissionless":
Anybody can join the network as a consensus participant without a need for approval from a central entity.
More on public and compliance...
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Dusk is also "permissionless":
Anybody can join the network as a consensus participant without a need for approval from a central entity.
More on public and compliance...
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Dusk is public which means:
Users do not need approval of a trusted authority to use the Dusk Network blockchain.
Dusk Network blockchain also requires minimal processing power and modest IT resources to join. All users who own the DUSK token can participate in consensus.
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Users do not need approval of a trusted authority to use the Dusk Network blockchain.
Dusk Network blockchain also requires minimal processing power and modest IT resources to join. All users who own the DUSK token can participate in consensus.
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Dusk Network is compliant.
Through zero-Knowledge proofs, companies and projects are able to create real world applications that can adhere to strict compliance requirements whilst still offering data privacy.
This reduces costs for firms building on #DuskNetwork .
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Through zero-Knowledge proofs, companies and projects are able to create real world applications that can adhere to strict compliance requirements whilst still offering data privacy.
This reduces costs for firms building on #DuskNetwork .
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I've mentioned "Zero Knowledge Cryptography".
What actually is its use case?
It allows network participants to prove the correct outcome of operations without ever revealing the identities or transaction details in a trustless manner.
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What actually is its use case?
It allows network participants to prove the correct outcome of operations without ever revealing the identities or transaction details in a trustless manner.
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Let's talk about the value of #DuskNetwork
Securites & Compliance - Regulatory bodies are on the prowl for protocols breaching current securities' regulations.
Uniswap delisted tokens for compliance concerns not long ago.
Securities are regulated financial instruments...
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Securites & Compliance - Regulatory bodies are on the prowl for protocols breaching current securities' regulations.
Uniswap delisted tokens for compliance concerns not long ago.
Securities are regulated financial instruments...
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As such, tokenization of which must be enabled to function compliantly, such as confidential settlements, dividend claims, access controls etc
All of which is important in the financial industry.
Dusk thus focuses on facilitating a compliant security token issuance.
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All of which is important in the financial industry.
Dusk thus focuses on facilitating a compliant security token issuance.
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#DuskNetwork designed $Dusk with regulatory complliant security tokenisation and lifecycle management in mind.
When the testnet launches in February of 2022, it will enables Dusk to act as a privacy preserving sidechain for other Layer 1s as an interoperability solution.
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When the testnet launches in February of 2022, it will enables Dusk to act as a privacy preserving sidechain for other Layer 1s as an interoperability solution.
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In summary, Dusk Network has to be capable of supporting the following functionalities:
1. privacy-preserving leader extraction procedure,
2. permission-less access to the consensus mechanism,
3. near-instant transactional finality,
4. transactional confidentiality,
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1. privacy-preserving leader extraction procedure,
2. permission-less access to the consensus mechanism,
3. near-instant transactional finality,
4. transactional confidentiality,
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This will allow for the seamless interaction between regulated and non regulated assets without compromising the privacy of the interacting users.
Let us move on to the token value.
As an investor. It is important to consider where does the intrinsic value lie.
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Let us move on to the token value.
As an investor. It is important to consider where does the intrinsic value lie.
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As a Proof-of-Stake token,
-The DUSK token is used to stake and participate in the consensus.
-The DUSK token is used to pay for transactions, deploying dApps, and as gas.
-The token also serves as rewards for the consensus participants.
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-The DUSK token is used to stake and participate in the consensus.
-The DUSK token is used to pay for transactions, deploying dApps, and as gas.
-The token also serves as rewards for the consensus participants.
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Moreover additional functions are:
-DUSK can be traded for XSC-based tokens, both one-way and through atomic swaps.
-The DUSK token will be used for on-chain governance within XSC once it is released.
-In Dusk Network, block rewards are paid through an emission of DUSK.
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-DUSK can be traded for XSC-based tokens, both one-way and through atomic swaps.
-The DUSK token will be used for on-chain governance within XSC once it is released.
-In Dusk Network, block rewards are paid through an emission of DUSK.
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For my tech friends out there,
The majority of all newly issued DUSK will be rewarded to consensus participants, while a minor portion will go to a technical development fund, creating an autonomous funding mechanism for the long term research and development.
Intriguing..
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The majority of all newly issued DUSK will be rewarded to consensus participants, while a minor portion will go to a technical development fund, creating an autonomous funding mechanism for the long term research and development.
Intriguing..
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Since its testnet has not gone live as of yet.
Let's discuss what has been achieved over the last 6 months.
- Team growth
- Integration with PlonkUp ahead for public testnet release feb 1st 2022
- Payment in Dusk from "The Next Web"
- Many research papers published
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Let's discuss what has been achieved over the last 6 months.
- Team growth
- Integration with PlonkUp ahead for public testnet release feb 1st 2022
- Payment in Dusk from "The Next Web"
- Many research papers published
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A reminder:
Financial institutions through #DuskNetwork,
Have the opportunity to ensure data privacy and meet compliance requirements on-chain.
This eliminates the major adoption hurdles of public networks: data leakage and intermediary costs.
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Financial institutions through #DuskNetwork,
Have the opportunity to ensure data privacy and meet compliance requirements on-chain.
This eliminates the major adoption hurdles of public networks: data leakage and intermediary costs.
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Some of the key components of $Dusk
-dApps
-Security Token Standard
-Confidential Smart Contracts
-PoS consensus
-Zero-Copy Data Serializer
-Zero-Copy Data Storage
Let's move on to the final bit about components within Dusk Network.
All of which should be understood.
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-dApps
-Security Token Standard
-Confidential Smart Contracts
-PoS consensus
-Zero-Copy Data Serializer
-Zero-Copy Data Storage
Let's move on to the final bit about components within Dusk Network.
All of which should be understood.
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Components:
Plonk- The lightning fast standard in zero-knowledge technology
SBA Consensus- unique POS consensus mechanism, delivers settlement finality- essential for Security Tokens and financial dApps that require transactions to be final and irreversible when processed.
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Plonk- The lightning fast standard in zero-knowledge technology
SBA Consensus- unique POS consensus mechanism, delivers settlement finality- essential for Security Tokens and financial dApps that require transactions to be final and irreversible when processed.
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Let us have a look at some computational benchmarks now:
17x faster than Poseidon
300x faster than Rescue
100x faster than Sinsemilla (the latest ZCash design)
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17x faster than Poseidon
300x faster than Rescue
100x faster than Sinsemilla (the latest ZCash design)
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A statement from Dmitry Khovratovich, Lead Cryptographer:
"Zero knowledge tech enables the most efficient in-circuit zero-knowledge hashing to date. We’re now able to benefit from decades of public scrutiny and usage to outperform the current industry standards".
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"Zero knowledge tech enables the most efficient in-circuit zero-knowledge hashing to date. We’re now able to benefit from decades of public scrutiny and usage to outperform the current industry standards".
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Gary Gensler (SEC chairman):
Believes public blockchains pose privacy concerns, making them unsuitable for traditional financial use-cases.
Dusk Network is privacy in transaction data, so companies can incorporate levels of blockchain technology without exposing data.
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Believes public blockchains pose privacy concerns, making them unsuitable for traditional financial use-cases.
Dusk Network is privacy in transaction data, so companies can incorporate levels of blockchain technology without exposing data.
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In addition, the network is built to comply with MiFID II requirements for financial instruments, such as providing direct settlement finality of transactions, and trusted disclosures for auditability and compliance purposes.
Very good for regulators briefly.
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Very good for regulators briefly.
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Lets discuss the Metaverse.
This is gaining much adoption as of recent.
To experience true digital freedom in the Metaverse, people should have control of their digital identities and assets, moving freely and independently.
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This is gaining much adoption as of recent.
To experience true digital freedom in the Metaverse, people should have control of their digital identities and assets, moving freely and independently.
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ZKPs revolutionize the concept of privacy.
They enable people to engage with each other, communicate, trade, store items publicly while retaining their privacy.
This way, when you are taking your first steps into the Metaverse, it’s how you want.
$Dusk adoption?
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They enable people to engage with each other, communicate, trade, store items publicly while retaining their privacy.
This way, when you are taking your first steps into the Metaverse, it’s how you want.
$Dusk adoption?
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Let's discuss a little on tokenomics:
Active for over 400 days.
18% of dusk supply is locked.
56% pool growth over past 6 months.
But what about private investors?
Don't worry anon. Keep reading..
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Active for over 400 days.
18% of dusk supply is locked.
56% pool growth over past 6 months.
But what about private investors?
Don't worry anon. Keep reading..
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Private Sale (including BEP-2 issuance) comprise 50% of total supply.
Dusk's private sale was conducted from August 2018 until November 2018 for 0.04 USD per DUSK.
Partnerships- 11.81%
Tech development fund- 18.06%
Marketing- 7%
Team- 6%
Advisors- 6%
(Rounded figures)
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Dusk's private sale was conducted from August 2018 until November 2018 for 0.04 USD per DUSK.
Partnerships- 11.81%
Tech development fund- 18.06%
Marketing- 7%
Team- 6%
Advisors- 6%
(Rounded figures)
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Roughly 88% of Tokens have been released.
By the end of April 2022, all tokens will have been released.
Partnerships include:
-Cipher bladee
-Blockventure coalition
-Watson law
-The reseerve
-Binance
Let's talk about the team..
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By the end of April 2022, all tokens will have been released.
Partnerships include:
-Cipher bladee
-Blockventure coalition
-Watson law
-The reseerve
-Binance
Let's talk about the team..
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Dusk is built by a team of entrepreneurs, engineers and researchers with technical experience at Amazon, TomTom, Mozilla, Reaktor, and blockchain backgrounds (Zcash, City of Zion, NEO Research, etc).
Now onto some key individuals who are central to #DuskNetwork ..
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Now onto some key individuals who are central to #DuskNetwork ..
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Eemanuele Francioni
-Former executive director at Web3 ventures. Founder of GoSparc BC and Beestar.
Jeelle Pol
-Co founder of Informance group, former blockchain project manager at shell
Matteo Ferretti
-Former software engineer at mozilla, tomtom and reaktor
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-Former executive director at Web3 ventures. Founder of GoSparc BC and Beestar.
Jeelle Pol
-Co founder of Informance group, former blockchain project manager at shell
Matteo Ferretti
-Former software engineer at mozilla, tomtom and reaktor
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Let's briefly acknowledge the current price metrics.
Price: $0.889
Market Rank: 166
Market Cap: $348,362,001.49
Fully Diluted Market Cap: $894,765,065.37
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Price: $0.889
Market Rank: 166
Market Cap: $348,362,001.49
Fully Diluted Market Cap: $894,765,065.37
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In summary,
Looking at these fundamentals, it is hard not to be bullish.
I'll be DCAing into a position over the coming weeks.
I think there's a powerful narrative being constructed around privacy, and we'll see Dusk Network in the top 100 sooner than later.
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Looking at these fundamentals, it is hard not to be bullish.
I'll be DCAing into a position over the coming weeks.
I think there's a powerful narrative being constructed around privacy, and we'll see Dusk Network in the top 100 sooner than later.
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