Dusk Network.
A privacy blockchain that has the ability to solve capital market issues in blockchain.
We will be looking at the technology, tokenomics and vision to help you understand further in this 🧵:
$Dusk #Dusk
A privacy blockchain that has the ability to solve capital market issues in blockchain.
We will be looking at the technology, tokenomics and vision to help you understand further in this 🧵:
$Dusk #Dusk
1. Understanding 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 until 1st February.
#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 until 1st February.
2. Ecosystems
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.
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.
3. Technical Solutions
The Project aims to remove technical barriers that have halted 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").
The Project aims to remove technical barriers that have halted 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").
4. Depth of Solution
$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 market.
$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 market.
5. Core Features
Central to its design are:
-a scalable public infrastructure
-direct settlement finality of transactions
-strict data privacy
Central to its design are:
-a scalable public infrastructure
-direct settlement finality of transactions
-strict data privacy
6. Specific Need-To-Know Elements
#Phoenix, a transactional model Dusk Network focuses to bring privacy and anonymity to transactions, as well as smart-contracts.
#Zedger, tokens can be built on top of this hybrid privacy model developed "specifically" for security tokens.
#Phoenix, a transactional model Dusk Network focuses to bring privacy and anonymity to transactions, as well as smart-contracts.
#Zedger, tokens can be built on top of this hybrid privacy model developed "specifically" for security tokens.
7. Security
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)...
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)...
8. Security cont...
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.
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.
9. Design
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.
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.
10. To Thrive
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..
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..
11. Privacy
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.
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.
12. Public
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. Anyone owning $Dusk can be in consensus.
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. Anyone owning $Dusk can be in consensus.
13. 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 .
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 .
14. Zero Knowledge Cryptography
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.
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.
15. Unique Selling Point
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.
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.
16. USP continued...
Securities are regulated financial instruments.
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.
Securities are regulated financial instruments.
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.
17. Testnet Launch
#DuskNetwork designed $Dusk with regulatory compliant security tokenisation and lifecycle management in mind.
On 1st February Dusk can act as a privacy preserving sidechain for other Layer 1s as an interoperability solution.
#DuskNetwork designed $Dusk with regulatory compliant security tokenisation and lifecycle management in mind.
On 1st February Dusk can act as a privacy preserving sidechain for other Layer 1s as an interoperability solution.
18. 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,
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,
19. Token Value
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.
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.
20. Additional Functions
-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.
-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.
21. Development Fund
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.
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.
22. Prior to Testnet
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
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
23. 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.
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.
24. Moreover...
$Dusk is the leading Organisation in terms of zk innovation right now.
Their old hash functions are still used by polygon and Mina while plonkUp and reinforced concrete again have become so much more efficient
First mover advantages are important
$Dusk is the leading Organisation in terms of zk innovation right now.
Their old hash functions are still used by polygon and Mina while plonkUp and reinforced concrete again have become so much more efficient
First mover advantages are important
25. Further Resources
To understand Zero-Knowledge Proofs, and why they are so important.
I'd recommend reading this comprehensive Q+A with @Autholykos :
hackernoon.com/understanding-…
To understand Zero-Knowledge Proofs, and why they are so important.
I'd recommend reading this comprehensive Q+A with @Autholykos :
hackernoon.com/understanding-…
If you want to learn more about promising DeFi and Altcoin projects.
I post every day about different projects, breaking down the tech and fundamentals for you to understand it simply.
I also drop some important alpha on Medium for you, linked below:
medium.com/@crypto8fi
I post every day about different projects, breaking down the tech and fundamentals for you to understand it simply.
I also drop some important alpha on Medium for you, linked below:
medium.com/@crypto8fi
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