Variably named Dusk Network, it is working to tackle one of the biggest hurdles to adopting a blockchain: finding a way to keep a system private and, yet, also Regulation-compliant . As it stands now, most public blockchains are operating on a level of total transparency that is unrealistic for a typical marketplace, which has to keep many of its key pieces of information private. @Dusk is taking a different tack by creating a Layer 1, privacy-centric mainnet that utilizes zero-knowledge proof.
By harnessing zero-knowledge technology, selective disclosure is possible, which means only approved entities are able to view specific information if it’s called for by legal standards. This exists as a particularly pertinent development for institutions, businesses, and markets that are required to be compliant with rules and regulations and would like to use blockchain technology in a manner which does not compromise this compliance. Rather than being forced to make a trade-off between privacy and transparency, it solves this issue in a well-rounded manner.
Tokenized assets, private asset issuance, private settlement solutions, and many more related to these areas require a network that focuses on both data protection and auditability.
Apart from privacy, another area that $DUSK Network emphasizes is developer experience. The confidentiality feature of smart contracts on the network allows developers to design solutions for which business logic and user data are not in plain sight while the result of that calculation is still verifiable on the blockchain. The confidentiality feature of the network opens up various use cases for sophisticated financial tools.
DUSK goes beyond mere transactions. DUSK is used as a staking mechanism, as a means to secure a network, as a participant in governance, and as a fee mechanism for transactions. The more apps that go live, the more on👍😍-chain activity, and thus the use case for DUSK becomes less about speculation and more about real-world use.
Rather, they continue to support the compatibility of regulation and integrate with the real world rather than following fleeting trends. In doing so, the development of technology for the adoption of these systems by the very institutes the company aims to disrupt has allowed Dusk to position itself more firmly as the connecting tissue between traditional finance and the decentralized sector.
Moreover, the focus of Dusk Network is on scalability, which targets the efficiency of its network. The blockchain platform is built with a consensus and privacy system that lends itself well to scalability, allowing for high transaction volumes to be completed within the network. This makes it possible for the network to cope with increasing usage.
Another key base for this technology is that of trust minimization. In this case, since the use of cryptographic proofs removes the need for intermediaries, the need for trust in authorities is minimized. Therefore, by still meeting the requirements of compliance, financial institutions will be in a position to modernize their architectures through the adoption of blockchain technology by the implementation of the Dusk system.
Development in the community and at an ecosystem level also forms an integral part of Dusk's overall plans. By facilitating developers, promoting research, and building collaborations, Dusk continues to build upon the foundation for healthy growth. Dusk Network marks a new era of mature blockchain technology, which recognizes the challenges in the real world but enables the power of decentralization.
