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What is Dusk Network?
Dusk Network is a blockchain designed for Confidential Smart Contracts, enabling financial institutions to ensure data privacy and meet compliance requirements on-chain. It addresses the challenges of data leakage and intermediary costs associated with public networks.
Using PLONK zero-knowledge proofs, Dusk Network sets a new standard for on-chain data privacy and selective disclosures. It also offers settlement finality of transactions, which is crucial for regulatory compliance in financial applications. The mission of Dusk Network is to facilitate collaboration at scale, meet compliance requirements, and safeguard personal and transaction data confidentiality.
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What is Dusk Network?
Dusk Network is a Layer-1 blockchain founded in 2018. It aims to provide institutional-level privacy and compliance, enabling anyone to trade real-world assets from their wallet. Dusk is designed for regulated and decentralized finance, revolutionizing the financial landscape by bringing regulated assets on-chain.
The three core pillars of Dusk Network are privacy, compliance, and accessibility. By utilizing cryptographically secure Zero-Knowledge Proofs (ZKPs), Dusk ensures privacy while maintaining compliance. The research team at Dusk has been at the forefront of ZKP development, with published papers showcasing their work. The custom-built ZKP virtual machine, Piecrust, is breaking new ground in blockchain and privacy.
Dusk Network offers a suite of products, including Citadel, a ZKP licensing product suitable for KYC/AML procedures and subscription-based models. This infrastructure is paving the way for the economy of the future.
For businesses and institutions, Dusk Network provides automated and programmable compliance, instant settlement finality, and access to unified liquidity. With the use of private smart contracts, Dusk offers a higher level of privacy compared to traditional banks and institutions.
For users, Dusk Network breaks the barriers of the crypto sandbox, enabling the trading of real-world, regulated assets with ease and autonomy similar to digital assets.
The Dusk Network operates on a Proof-of-Stake (PoS) consensus mechanism, secured by the DUSK token. It is a public blockchain open for anyone to participate in the consensus mechanism. Validators secure the network by running nodes and staking DUSK, while transactions are paid using DUSK tokens.
Privacy and anonymity are central to Dusk Network's transactional model called Phoenix, which extends to both transactions and smart contracts. Additionally, tokens deployed on Dusk can utilize Zedger, a hybrid privacy-preserving model specifically designed for security tokens.
The network is secured by the 'Segregated Byzantine Agreement' (SBA) consensus mechanism. SBA improves upon the underlying PoS mechanism by combining cryptographic sortition (lottery), stealth time-locked transactions (private stake amounts), and a reputation module to enhance the selection of honest nodes and promote decentralization.
Dusk Network is headquartered in Amsterdam, The Netherlands.
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