Dusk Network has today released its bi-annual report on advancements in zero-knowledge cryptography. After the recent hype in NFTs, security tokens are once again becoming a focus. The Dusk Network protocol aims to build privacy into security tokens, thereby making them compliant and a good regulatory fit for the emerging DeFi markets.
With 2021 seeing a massive amount of interest in cryptocurrencies and all the progress being made in DeFi, NFTs and the like, Dusk Network has continued to work diligently in the background to achieve its aim of becoming the first privacy blockchain for regulated DeFi applications.
The Dusk Network bi-annual report highlighted some of the key areas where it is making advancements.
The first annual Duskcon in early April featured the launch of Dusk Network’s $5 million Grants Program. The program is aimed at attracting the best minds in the crypto space, and especially in the area of privacy technology. The Grants Program also targets the development of new infrastructure, research, and high potential applications that will help to further adoption of the network.
The report gives more details on the RUSK Virtual Machine (VM), and how it is using transformative breakthroughs in cryptography, distributed computing and transaction models. This VM powers the Dusk Network, making all transactions private, including smart contracts, block rewards and gas refunds.
“At Dusk Network we believe in privacy and transparency and with the release of our biannual report we practice what we preach. The report shows what we have been working on, our highlights and announcements and sheds light on the bigger Dusk vision, written in such a way that all stakeholders understand what has been worked on and what Dusk Network stands for.” - said Jelle Pol, Business Director.
xDeFi is what the Dusk Network terms as the capability to provide privacy layers for all DeFi applications. This technology will prevent “frontrunning” and protect the positions of DeFi investors.
The Dusk Network treasury balance is another area for celebration. By not deviating from its strict financial policy, the Dusk treasury has expanded massively. This now puts the company in an excellent position to advance the Dusk Network ecosystem in the coming years.
Finally, a new technological milestone is about to be reached - that of finalising 500,000 blocks. Once this is achieved, Dusk Network will allow community interaction through its public incentivised TestNet (ITN). The TestNet will be open for anyone wishing to participate.
With blockchain technology reaching widespread global acceptance, the Dusk Network team believes that regulators are now recognising the importance of privacy. Dusk Network embodies this requirement by being built for privacy from the ground up.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.