What is Dusk Network?
Dusk Network is a layer 2 blockchain platform that provides smart contracts to protect user privacy and meet business standards. The network applies the Succinct Attestation mechanism based on the PoS model, ensuring absolute security and preventing access by third parties to customer transactions.
The development team commits to the final payment volume, opening up new opportunities for communities and organizations looking to integrate blockchain technology into their businesses, thus addressing inefficiencies in traditional financial sectors.
The project boasts the capability to settle payments in just 10 seconds, with over 105 million staked individuals and approximately 2,500 node runners. The platform is expected to launch its mainnet in March or April. Its testnet, named Nocturne, has nearly 900 nodes in less than a month.
Characteristics of Dusk Network
- Security Token Offering (STO): Dusk Network is one of the pioneers in developing STOs. STO is a fundraising method where tokens are issued and traded on the market but have security features and are typically tied to specific assets or rights. STOs must comply with securities regulations and be supervised by financial regulatory agencies. This increases transparency and safety for investors, opening up new opportunities in the cryptocurrency market.
- Fast processing speed: The platform uses the SA mechanism, allowing the system to process transactions in under 10 seconds, ensuring the irrevocability of orders.
- Security: Dusk Network ensures user privacy and data security through Zero-knowledge Proof technology.
- Decentralization: The project encourages DUSK token holders to participate in the consensus mechanism and become validators. The platform allows developers to build decentralized applications (dApps) without licensing, creating favorable conditions for ecosystem development.
- DUSK token: Investors use the DUSK token to pay for network services, deploy and execute smart contracts, and convert DUSK and XSC-based security tokens. XSC is a standard for creating and issuing cryptocurrency as securities, enabling the on-chain trading and storage of traditional financial assets.
Technology of Dusk Network
- Piecrust virtual machine: Dusk's Piecrust (Rusk) VM 2.0 feature allows users to program smart contracts, power various decentralized applications (dApps), and set parameters for compliance and control. The Rusk virtual machine operates entirely on zero-knowledge proof cryptography and implements the first Zero-Knowledge Virtual Machine (ZK-VM) in the cryptocurrency market. Dusk is committed to securing customers' personal data, including transactions, gas fees, block rewards...
- SA consensus mechanism: Succinct Attestation (SA) is a novel consensus algorithm designed by Dusk based on the PoS mechanism to create a decentralized blockchain network without permission. SA helps settle transactions on the network instantly, saving time and effort for investors.
- Plonk: The project utilizes Plonk, one of the latest advancements in Zero-Knowledge cryptography. This fosters convenient collaboration among blockchains, allowing businesses to issue claims while ensuring strict levels of safety and security.
- Citadel digital identity: The platform introduces Citadel, the online version of Shelter, to provide KYC features for organizations and individuals in the cryptocurrency field. Users use Citadel to reduce costs, automate KYC processes with various options to protect sensitive data.
Tokenomic
- Token name: Dusk
- Symbol: DUSK
- Standard: ERC-20
- Contract: 0x940a2db1b7008b6c776d4faaca729d6d4a4aa551
- Blockchain: Ethereum
- Total supply: 500,000,000 DUSK
- Reported circulating supply: 421,164,409 DUSK
Token allocation
- Private sale: 50%
- Partnerships: 11.81%
- Development fund: 18.06%
- Marketing and events: 7.29%
- Team: 6.42%
- Advisors: 6.42%
Price fluctuations and exchanges
DUSK token is currently trading at $0.4835, up 45.08% in the last day. According to CoinMarketCap data, the project's 24-hour volume is $22,296,710, with a market capitalization of $203,616,546. Investors can buy DUSK token on popular exchanges such as Binance, HTX, Uniswap v3, Kucoin, Bitget, PanSwap...
Team
The project is led by a core team consisting of:- Founder and CEO: Emanuele Francioni
- Chief Marketing Officer (CMO): Emanuele Carboni
- Co-founder and Chief Investment Officer (CIO): Fulvio Venturelli
- Chief Technology Officer (CTO): Matteo Ferretti
- Head of Business Development: Ryan King
- Strategy Manager: Robin Massini
Roadmap
- November 2023:
- Commencement of audit feedback cycle.
- Deployment of systemic stress test.
- Introduction of Citadel (SDK).
- Launch of Piecrust VM 2.0.
- December 2023:
- Continued systemic stress test.
- Node initialization.
- Introduction of web wallet.
- January:
- Completion of systemic stress test and transition to the Incentivized Testnet (ITN).
- Deployment of Economic protocol.
- February: Completion of ITN.
- March:
- Conclusion of audit feedback cycle.
- Mainnet launch.
- Development of ERC20 one-way bridge.
Conclusion
Dusk Network owns four main pillars: Piecrust VM, SA consensus mechanism, PLONK, and Citadel digital identity. This helps companies and enterprises easily adopt blockchain technology advancements without worrying about security issues. DUSK token currently ranks 10th in CoinMarketCap's privacy category, promising growth potential in the future. However, investors need to carefully consider before participating in the project.