Spot Trading

Einführung
Der Markt für digitale Assets umfasst viele verschiedene Projekte, jeweils mit einem unterschiedlichen Konzept für zusätzlichen Wert. Im Rahmen dieses Artikels sollen zwei digitale Assets, Zcash (ZEC) und Dash (DASH), ein privatsphäreorientierter Coin und ein geschwindigkeitsorientierter Coin, beschrieben werden.

Übersicht über Zcash (ZEC)
Zcash ist eine dezentrale digitale Währung, die sich auf die Vertraulichkeit ihrer Transaktionen konzentriert. Die Währung nutzt Zero-Knowledge-Beweise (zk-SNARKs), um einen geschützten Transaktionsdienst anzubieten, der Absender, Empfänger und den Betrag geheim hält. Dadurch wird die Währung bevorzugt von Personen, die einen hochgradig anonymen Finanztransaktionsdienst suchen.

Within the realm of a market where the story of the speculative token is often the story of the market itself, the $DUSK token represents the visionary approach to economics known as utility economics, where the Token is more than just a means of facilitating trading or governance but is the very essence of the Dusk Network itself; the very core upon which the robust financial regulation-dependent blockchain of the former relies.
The Core Utility: Staking, Consensus, and Provisioners
Essentially, dusk a staking instrument used in securing and reaching-consensus on the network. Anyone who locks in the minimum stake will be considered a Provisioners, in which the Succinct Attestation (SA) algorithm selects the next generators of the block and voting committees. Deterministic Sortition (DS) is used in this process and is stake-weighted, such that one’s chance of being chosen in order to perform critical tasks and in effect earn rewards in dusk directly related to the amount of dusk.
This provides the strongest possible incentive: in order to secure the network, one needs to accumulate and lock in the value of DUSK. The more valuable transactions and securements on the Dusk Network—the more confidential securities transacted, private loans settled, and RWAs tokenized—the more demand for the security service that provided the stake for the purchase of DUSK. The token’s value is directly tied to the security budget of a blossoming world of confidential finances.
A Sophisticated Incentive & Penalty Architecture:
In White paper Dusk’s system of rewards and penalties seems to optimize for honest participation and the liveliness of the network rather than mere stake holding.
Reward Distribution:
Block rewards (newly minted dusk ) will be allocated for:
80% to Block Generator:
This is then divided into a fixed component (70% of total reward) and a flexible component (10%) that is proportional to committee votes cast and thus attempts to encourage maximum participation by block generators.
10% to Voting Committee:
To be distributed equally to Voting Credits for members who validate votes.
10% to the Dusk Treasury: Support ongoing development, research grants, and building the ecosystem.
Future Generator Problems Solved:
A key innovation is that it solves the "future generator problem." A player chosen to play in one of the future iterations may damage equipment in this round to win the prize. Dusk prevents this by:
Payments to voters to immediately reward them for their participation and to ensure that the current reward option has a positive value rather than a potential reward in the future
Omitting the next iteration's generator from the present voting committee.
Adding a total iteration cap per round. A node prefers to attach itself to the node with the highest degree if and only if this
Faults & Slashing (The Stick):
Integrity is enforced by increasing punishments:
Minor faults:
These would include going offline; temporary suspension and "soft slashing" is applied, reducing the effective stake weight of a provisioner.
Major Faults:
For example, double-signing or proposing invalid blocks activates "hard slashing," part of the staked $DUSK . This ensures security is not just a function of stake, but of the competent and honest deployment of it. Mechanisms of slashing will make the attacks irrational economically and protect network integrity for its high-value financial users.
Sustainable Economics vs. Hype Inflation:
Dusk's approach can be contrasted with others that are based on hyperinflationary token supply to trigger securitization.
The economics are as follows:
Security Through Value, Not Inflation:
As a function of the Total Value Locked (TVL) in confidential assets on Dusk Network, there has to be a corresponding value staked in dusk. This naturally boosts demand for staking asset in its own right. In addition to being a secure asset, there has to be real value being transacted.
Controlled Supply & Burn:
The melding of a visible emission schedule (block rewards) and a supply management through the burn mechanism established through slashing acts to introduce a potentially deflationary element in the presence of intense network conditions and/or malicious behavior.
Long-Term Network Health:
Aligning All Participants
The $DUSK token is the key that connects the interests of all the different parties that are involved in the network:
Institutional Users:
They require an extremely secure, stable, and predictable environment in terms of the network. These users are also responsible for the value that is being protected through providing security via rewards in terms of transaction costs.
Provisioners (Validators): Provisioners are in search of reliable and yield-generating rewards. Provisioners will be motivated to function well and to make quality infrastructural investments to avoid being slashed and to positively impact the users.
Developers and the Dusk Foundation: Benefit from having a vibrant and stable network to develop more institutional applications and foster a positive cycle.
This is a flywheel effect, where increased use cases lead to increased fees and secure values, which result in increased stakes and security, which then leads to new provisioners and users, ultimately increasing the level of decentralization.
Positioning for Regulated Adoption:
The Ultimate Utility In regulated entities, infrastructure choice is a risk management decision. Having a network insulated by a speculative asset is not an option. Dusk’s are crafted to convey long-term stability and institutional-grade safety features.
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