Dusk Network (DUSK) Research Project Report
Dusk Network presents itself as a privacy blockchain for financial applications. It is a layer-1 blockchain that supports the Confidential Security Contract (XSC) standard and supports secret smart contracts.
Through the use of a new transactional model called Phoenix, Dusk Network focuses on bringing privacy and anonymity to transactions as well as smart contracts. In addition, the token used in Dusk Network can be built on top of Zedger, a hybrid privacy-preserving model based on Phoenix, developed specifically for security tokens.
The 'Segregated Byzantine Agreement' (SBA) consensus mechanism secures the network. According to the team from Dusk Network, SBA is an improvement over the underlying Proof-of-Stake (PoS) mechanism because it combines existing ideas such as "cryptographic sorting (lottery), time-locked hidden transactions (hidden bet amounts) and module reputation to improve the odds of selecting honest nodes and further promotes decentralization".
DUSK tokens can be used as utility tokens to initiate transactions, atomic swaps, or deploy smart contracts. DUSK can also be staked to participate in consensus and serves as a means for exchanging the value of DUSK currency. In the future, the team intends to expand DUSK use cases by adding it to the on-chain governance system.
#dusk $DUSK @Dusk
Dusk Network presents itself as a privacy blockchain for financial applications. It is a layer-1 blockchain that supports the Confidential Security Contract (XSC) standard and supports secret smart contracts.
Through the use of a new transactional model called Phoenix, Dusk Network focuses on bringing privacy and anonymity to transactions as well as smart contracts. In addition, the token used in Dusk Network can be built on top of Zedger, a hybrid privacy-preserving model based on Phoenix, developed specifically for security tokens.
The 'Segregated Byzantine Agreement' (SBA) consensus mechanism secures the network. According to the team from Dusk Network, SBA is an improvement over the underlying Proof-of-Stake (PoS) mechanism because it combines existing ideas such as "cryptographic sorting (lottery), time-locked hidden transactions (hidden bet amounts) and module reputation to improve the odds of selecting honest nodes and further promotes decentralization".
DUSK tokens can be used as utility tokens to initiate transactions, atomic swaps, or deploy smart contracts. DUSK can also be staked to participate in consensus and serves as a means for exchanging the value of DUSK currency. In the future, the team intends to expand DUSK use cases by adding it to the on-chain governance system.
#dusk $DUSK @Dusk
