The @Dusk Network is made to fix an issue with blockchain technology. A lot of institutions require privacy but at the same time they need to follow the rules. The thing is, public blockchains show all the data by default. On the hand traditional systems keep data safe but they are not very transparent. The DUSK Network wants to be a ground between these two systems. The DUSK Network is designed to provide infrastructure that keeps privacy in mind and it can still work within the law. The DUSK Network focuses on this goal, which's to have a system that protects peoples privacy while also being compliant, with regulations.
At the center of the DUSK Network is zero knowledge cryptography. This technology is really important because it lets the DUSK Network check transactions without showing any information. So what does this mean? It means that the money you have and the details of your transactions can stay hidden.. The DUSK Network can still make sure everything is correct. This is really useful for things, like securities and secret payments. People who make the rules often need to be able to check things. The DUSK Network has a way to show information to people who are allowed to see it when it is needed.
The network is based on a proof of stake consensus model. To participate validators have to put up the asset, which is $DUSK
. This way the network does not use much energy as other systems that use proof of work. The network also makes sure that transactions are finalized in a way, which is really important for things, like financial applications. People who participate in the network are encouraged to be honest because if they do something they can get penalized. The proof of stake consensus model is what makes this all work. It is a key part of the network that uses $DUSK.
DUSK Network is not for every kind of application. It is focused on things. The DUSK Network has tools that help people issue securities and manage corporate actions. This is what the people at @Dusk want to happen in the run. The DUSK Network is not trying to be better than every smart contract platform. It is focused on finance that has to follow rules, where people need to keep things. The DUSK Network is about regulated finance and privacy which is very important, for DUSK Network.
Companies will only use something if they really trust it and understand how it works. DUSK Network wants to make it easy for big institutions to use their product. So they made sure to follow all the rules from the beginning. They know that when it comes to money following the rules is not something you can choose to do or not do. It is something you have to do so they are dealing with it directly.
As privacy regulations and data protection laws expand globally the demand for compliant privacy technology may increase. DUSK Network represents one possible direction for this evolution. How do you think privacy focused blockchains will influence institutional adoption over the next decade #Dusk
