When Satoshi Nakamoto introduced the first decentralized currency more than a decade ago, his main goal was to create a digital financial system that could be independent of any individual, government, or organization. Nakamoto succeeded – to some extent. Bitcoin has reached its goal today, and the hype surrounding it is expected to continue for the foreseeable future. However, bitcoin is far from perfect.
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The advent of bitcoin has come to fruition, which is called DeFi or Decentralized Financial System. This has led to the creation of several other platforms such as Dusk Network. In 2021 alone, Dusk Network’s native token, DUSK, offered its users a staggering 1300% return on investment.
What is Dusk Network (DUSK)?
Dusk Network (DUSK) is a privacy-oriented blockchain platform for financial goals. It combines innovative technologies such as distributed head office technology to harness the growing potential and diversity of financial applications to create exciting new financial services.
This crypto is basically designed to allow regulatory tokens to be tokened. This is how Dusk achieves its standard of tokens, which can be used to create programmable security tokens while reducing automation costs. These tokens can represent votes or dividends as well as other amounts that can be easily integrated with top-tier organizational operations.
Dusk Network emphasizes business acceptance, which is why the development team behind the project sees privacy as an important part of the future of regulatory compliance and overall acceptance of financial plans. The network provides a fully functional, private ecosystem for enterprise-level financial applications and introduces smart private contracts before similar blockchain-based projects.
Dusk Network represents a Layer 1 blockchain that facilitates the use of natively confidential smart contracts and provides a scalable public ecosystem that meets the need for business-centric financial applications. Decentralized and open to public use, but private and designed for ultimate presentation, scalability and immediate performance.
How does Dusk Network (DUSK) work?
Dusk Network is a blockchain-based privacy platform for enterprise-level financial applications that intends to expand its financial services for business use and corporate acceptance. The platform gains privacy and decentralization with indigenous intelligent confidential contracts in the system, which is implemented by a consensus mechanism based on the extraction of private proof of stake and based on evidence of zero knowledge.
The Layer 1 network provides the standard for a confidential security contract. XSC is designed to provide compliance with security regulations and many functions that can be used by businesses and companies. This standard allows network users to present, issue, exchange and manage token security assets. A transaction model known as Zedger supports this standard. In addition, Zedger is supported by the Phoenix transaction model, which extends privacy and anonymity to smart transactions and contracts.
Dusk Network has a functional token called DUSK that can be used to start transactions and use crypto exchanges. You can also use DUSK to establish smart contracts and shareholding, while the token will have more functionality in the future, starting with network governance. DUSK is also the main payment tool on the network.
The Founders of DUSK Network (DUSK)
Dusk was founded in 2018 by Jelle Pol, business director of Dusk Network, and Emanuele Francioni, with the idea of offering the first intelligent indigenous confidentiality and privacy contracts for financial services. Emmanuel Francioni is also the technology director of the Dusk Network project.
The project is based in Amsterdam, the Netherlands, and should be expanded to include more capabilities and applications for native networks and tokens in the future, as the project continues to develop and upgrade to set new standards in finance and respond to growing demand for financial services. Private and distributed for commercial use.