The project is based in Amsterdam, Netherlands and should expand to more functionalities and use cases for the network and the native token in the future as the project continues to develop and upgrade to set new standards in the financial sector and respond to the growing demand for private and distributed financial services for business use. Emanuele Francioni also holds the position of tech lead for the Dusk Network project.
Who Are the Founders of DUSK Network? (History of DUSK Network)ĭusk was founded by Jelle Pol, the business director of Dusk Network, and Emanuele Francioni in 2018 with the idea to offer the first confidential native smart contracts and privacy for financial services. DUSK is also the main means of payment on the network. You can also use DUSK to deploy smart contracts and participate in staking, while the token will have more functionalities in the future, starting with network governance. In addition, Zedger is supported by the Phoenix transaction model that extends privacy and anonymity to transactions and smart contracts.ĭusk Network has a utility token, DUSK, that can be used to initiate transactions and use atomic swaps. The standard is supported by a transaction model known as Zedger. This standard allows users of the network to offer, issue, exchange, and manage tokenized security assets. XSC is designed to offer compliance with security regulations and a multitude of functions that can be used by businesses and enterprises. The layer-1 network powers the Confidential Security Contract standard. The platform achieves privacy and decentralization through the use of native confidential smart contracts in the system, which is run by an innovative Private Proof of Stake extraction-based consensus mechanism and powered by Zero-Knowledge Proofs. How Does Dusk Network Work?ĭusk Network is a blockchain-based privacy-oriented platform for enterprise-grade financial applications that plans to expand its offerings of financial services suitable for business use and enterprise adoption. It is decentralized and open for public use, but it is also private and designed to offer instant finality, scalability, and functionality. The network provides a fully functional and private ecosystem for enterprise-grade financial applications and introduces private smart contracts ahead of similar blockchain-based projects.ĭusk Network represents a layer-1 blockchain that facilitates the use of native confidential smart contracts and offers a scalable public ecosystem that satisfies the need for business-oriented financial applications. These tokens can represent votes or dividends, as well as other values that can be easily integrated with enterprise-grade operations.ĭusk Network emphasizes business adoption, which is why the dev team behind the project considers privacy to be an important part of the future of regulatory compliance and general adoption of alternative financial applications. That is how Dusk achieves its own standard of tokens that can be used to create programmable security tokens with decreased automation costs. It combines innovative technologies such as distributed ledger technology to tap into the rising potential and diversity of financial applications and create new and exciting financial services.ĭusk Network is primarily designed to allow tokenization of securities that are compliant with regulations.
Who Are the Founders of DUSK Network? (History of DUSK Network).
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