Dusk Network has recently landed on Binance DEX, Binance’s decentralised trading platform.
DUSK BEP2 has been approved by all Binance Chain validators with 11 out of 11 positive votes. Currently, only the DUSK/BNB trading pair is available. The token is actually listed also on Bitfinex, Ethfinex and Bittrex.
Dusk Network: What is it?
The network is a decentralised infrastructure that delivers transactional privacy, while enabling auditability and compliance. Dusk also allows the creation of zero-knowledge dApps.
To protect the Dusk Network’s blockchain from being tampered with, a novel consensus protocol called Segregated Byzantine Agreement (SBA) is utilized to validate and order the data that users attempt to store on the blockchain. SBA is used as opposed to the better-known PoW or PoS, because of SBA’s ability to reach decentralisation, prevent forks, preserve privacy of its consensus participants and efficiency.
As far as protection from attacks such as Sybil Dusk is concerned, it is based on the Proof-Of-Blind-Bid (also known as Proof-Of-Sealed-Bid). A Sybil attack is a type of threat against online systems, where a person tries to take control of the network by creating multiple accounts, nodes or computers.
In the cryptocurrency world, it can be carried out by a person who manages several nodes within a network. The objective of the attack is to outnumber the honest nodes of a network by creating sufficient false identities (or Sybil identities).
At the base of Dusk is a programmable framework called XSC (Confidential Security Contract).
Several blockchains treat privacy as a secondary problem while others, such as Monero or Zcash, consider it the most important thing but have several problems of adoption because of the regulators who oppose them. The network aims to become the first crypto system that manages to reconcile the privacy of transactions with the stakes imposed by the regulators.
Here is a summary of the main features of the Dusk network:
The ICO phase ended at the end of last year and the team, despite the bearish market, managed to raise over $8 million. The source code is available on GitHub and the whitepaper can be downloaded from the official website.