Topic: [ANN] | DUSK Network | Privacy-oriented blockchain for Digital Securities! - page 165. (Read 145674 times)
September 14, 2018, 02:24:25 AM
I like the concept of this project, I believe that the security of the transfer of personal data is very important aspect and it will be requested in the future. I subscribe to update in this thread and start studying whitepaper.
September 13, 2018, 01:49:55 AM
The Startup Dream; ICO’s vs STO’s.
Introduction
2017 seemed like the dream year for startups and entrepreneurs. With funding becoming ever more difficult, startups seemed to have found the answer to the funding conundrum in Initial Coin Offerings (ICOs).
In 2017, ICOs raised around $3.88 billion over a total of 210 different ICOs.
The amount raised reached up to $258 million raised by a single ICO is 2017.
This huge amount of money raised allowed for startups to find their way to life. In 2018, the floodgates were truly opened as the year showed a significant jump in the amount of money raised.
As of July 2018, ICOs raised a total of more than $12 billion with 5 months left to go. That is more than a 200% percent increase in about half the time.
A total of 546 ICOs have been run so far with the largest ICO raising $1.7 billion.
The Growth of Ethereum and The Need for Regulations
The increased number of ICOs resulted in a huge demand for Ethereum which ended up being the main platform to fund ICOs. Being a relatively stable network combined with the relative ease of deploying Ethereum smart contracts helped crown Ethereum as the main platform to launch ICOs and fund upcoming promising projects. ERC20 tokens were issued by projects and sold over Ethereum smart contracts in return for funding the startups. This naturally increased the demand for Ethereum as more investors looked to invest into ICOs in hopes for high returns on investment. Eventually, the price of Ether rose from around 31 cents during its crowdsale to an all-time high price of more than $1400. At the time of writing this article, Ethereum is floating in the range of $300 which is still around 1000x the initial price of Ether. Clearly, the ICO use case of Ether drove high adoption rates and high demand.
With the increased attention ICOs seem to be getting, regulatory requirements are getting more real every day. Considering that most the tokens that are being sold claim to be utility tokens, the chances for exit scams or failed investments increase significantly. Despite the jump in funding between 2017 and 2018, ICOs are becoming harder to participate in. Most of today’s ICOs are struggling to stay within the regulatory requirements and are trying to be safe by limiting the public access to ICOs and making the ICOs available to private accredited investors only. However, that seems to be a temporary solution to the problem as the regulations get tighter. Eventually, chances are that ICOs will inevitably make room for a more regulated landscape. With adoption comes regulations and such regulations may be satisfied with Security Token Offering (STOs).
Security Tokens vs Utility Tokens
Most of today’s ICOs claim to be giving Utility Tokens to their investors. Those tokens hold practically no value but they are more like future vouchers to use the company’s services once they are in live, assuming that the company does deliver a working project. This means that if the company fails or a product is never launched, the tokens that the investor bought hold ZERO value to the investor. This also means that the value of the token (or the voucher) that investors get will depend on the adoption of the project’s services. With such huge risks for investors, Security Tokens will come into play. Unlike Utility tokens, Security Tokens can be backed by company assets such as shares or voting power or any other right to a real asset.This clearly provides a much more solid and safe investment for the investor who believes in the company’s future.
The Need for Regulations
With that in mind, STOs now seem to be the answer to the problems raised by ICOs. They will provide safer investments for investors and reduce the chance of scams or manipulated projects. However, STOs will need some sort of regulation to run properly and not run into legal issues. As of now, we can more or less assume that such regulation would be similar to those assigned to Initial Public Offerings (IPOs). This is a more or less safe assumption until the actual ICO/STO regulations are announced and put into action. If that is the case, then the ERC20 tokens currently used for ICOs cannot satisfy those regulations in their present state.
For instance, trade secrecy and privacy of the ecosystem will be essential for STOs in order to prevent illegal activities such as market manipulation and insider trading. That is one of the major problems with having funding processes happen the way they do today over public chains. For example, if company X who happens to be a hugely successful investment fund moves $5 million into an STO on a public chain, the resulting buying and investing hype would be unheard of. In a regulated market, that is illegal and with regulations reaching the crypto space, one can assume that the future will hold similar regulations for cryptocurrencies. Not only is market manipulation illegal, it generally deters institutional investors such as Company X from investing in such projects as their total investment will be easily visible to the public eye over the public chains. The same works vice versa when a firm wants to close or diminish a position, currently often using what’s called a Dark Pool.
Dusk Network
This is where Dusk Network comes in. Dusk Network is a complete ecosystem that provides privacy measures that are practically impossible to breach. A key part of the Dusk ecosystem will revolve around compliant digital asset transfer. Not only will it provide the privacy required for the market, but it will also provide the auditability required by regulators. KYC requirements can be built directly into the token, thus satisfying a wide array of use cases.
Dusk Network is aiming to be the platform to run STOs the way Ethereum is for ICOs. The nature of the platform with the aim at true privacy will make it uniquely suited for hosting STOs. In other words, the platform has the potential to innately satisfy all the likely requirements and regulations that will be assigned to future STOs. The privacy provided over Dusk Network will prevent any sort of market manipulation or insider trading since all the actions that are taken by investors are hidden from the rest of the world. The encryptions provided are the solution for the future of crowdfunding methods that allow startups to continue funding their upcoming projects while also abiding by all the governmental regulations. This will ensure the security for both the investors as well as the STOs in question.
To summarize the solutions Dusk Network provides for the future of STOs:
Conclusion
Dusk Network is laser focused on delivering three key use cases: payments, digital asset transfer, and p2p communication. It will provide an ecosystem that allows for the best tradeoff between privacy and transparency. The market shifting towards the Security Token space will be a great fit with an innately suitable architecture like the Dusk Network.
How to learn more about Dusk Network
The Dusk Network is a project coordinated by the Dusk Foundation. We are a decentralized ecosystem entirely focused on providing the perfect trade-off between privacy and transparency. Dusk protects privacy and fits regulations in payments, communications and asset transfers.
Please consider joining us at the following media:
Introduction
2017 seemed like the dream year for startups and entrepreneurs. With funding becoming ever more difficult, startups seemed to have found the answer to the funding conundrum in Initial Coin Offerings (ICOs).
In 2017, ICOs raised around $3.88 billion over a total of 210 different ICOs.
The amount raised reached up to $258 million raised by a single ICO is 2017.
This huge amount of money raised allowed for startups to find their way to life. In 2018, the floodgates were truly opened as the year showed a significant jump in the amount of money raised.
As of July 2018, ICOs raised a total of more than $12 billion with 5 months left to go. That is more than a 200% percent increase in about half the time.
A total of 546 ICOs have been run so far with the largest ICO raising $1.7 billion.
The Growth of Ethereum and The Need for Regulations
The increased number of ICOs resulted in a huge demand for Ethereum which ended up being the main platform to fund ICOs. Being a relatively stable network combined with the relative ease of deploying Ethereum smart contracts helped crown Ethereum as the main platform to launch ICOs and fund upcoming promising projects. ERC20 tokens were issued by projects and sold over Ethereum smart contracts in return for funding the startups. This naturally increased the demand for Ethereum as more investors looked to invest into ICOs in hopes for high returns on investment. Eventually, the price of Ether rose from around 31 cents during its crowdsale to an all-time high price of more than $1400. At the time of writing this article, Ethereum is floating in the range of $300 which is still around 1000x the initial price of Ether. Clearly, the ICO use case of Ether drove high adoption rates and high demand.
With the increased attention ICOs seem to be getting, regulatory requirements are getting more real every day. Considering that most the tokens that are being sold claim to be utility tokens, the chances for exit scams or failed investments increase significantly. Despite the jump in funding between 2017 and 2018, ICOs are becoming harder to participate in. Most of today’s ICOs are struggling to stay within the regulatory requirements and are trying to be safe by limiting the public access to ICOs and making the ICOs available to private accredited investors only. However, that seems to be a temporary solution to the problem as the regulations get tighter. Eventually, chances are that ICOs will inevitably make room for a more regulated landscape. With adoption comes regulations and such regulations may be satisfied with Security Token Offering (STOs).
Security Tokens vs Utility Tokens
Most of today’s ICOs claim to be giving Utility Tokens to their investors. Those tokens hold practically no value but they are more like future vouchers to use the company’s services once they are in live, assuming that the company does deliver a working project. This means that if the company fails or a product is never launched, the tokens that the investor bought hold ZERO value to the investor. This also means that the value of the token (or the voucher) that investors get will depend on the adoption of the project’s services. With such huge risks for investors, Security Tokens will come into play. Unlike Utility tokens, Security Tokens can be backed by company assets such as shares or voting power or any other right to a real asset.This clearly provides a much more solid and safe investment for the investor who believes in the company’s future.
The Need for Regulations
With that in mind, STOs now seem to be the answer to the problems raised by ICOs. They will provide safer investments for investors and reduce the chance of scams or manipulated projects. However, STOs will need some sort of regulation to run properly and not run into legal issues. As of now, we can more or less assume that such regulation would be similar to those assigned to Initial Public Offerings (IPOs). This is a more or less safe assumption until the actual ICO/STO regulations are announced and put into action. If that is the case, then the ERC20 tokens currently used for ICOs cannot satisfy those regulations in their present state.
For instance, trade secrecy and privacy of the ecosystem will be essential for STOs in order to prevent illegal activities such as market manipulation and insider trading. That is one of the major problems with having funding processes happen the way they do today over public chains. For example, if company X who happens to be a hugely successful investment fund moves $5 million into an STO on a public chain, the resulting buying and investing hype would be unheard of. In a regulated market, that is illegal and with regulations reaching the crypto space, one can assume that the future will hold similar regulations for cryptocurrencies. Not only is market manipulation illegal, it generally deters institutional investors such as Company X from investing in such projects as their total investment will be easily visible to the public eye over the public chains. The same works vice versa when a firm wants to close or diminish a position, currently often using what’s called a Dark Pool.
Dusk Network
This is where Dusk Network comes in. Dusk Network is a complete ecosystem that provides privacy measures that are practically impossible to breach. A key part of the Dusk ecosystem will revolve around compliant digital asset transfer. Not only will it provide the privacy required for the market, but it will also provide the auditability required by regulators. KYC requirements can be built directly into the token, thus satisfying a wide array of use cases.
Dusk Network is aiming to be the platform to run STOs the way Ethereum is for ICOs. The nature of the platform with the aim at true privacy will make it uniquely suited for hosting STOs. In other words, the platform has the potential to innately satisfy all the likely requirements and regulations that will be assigned to future STOs. The privacy provided over Dusk Network will prevent any sort of market manipulation or insider trading since all the actions that are taken by investors are hidden from the rest of the world. The encryptions provided are the solution for the future of crowdfunding methods that allow startups to continue funding their upcoming projects while also abiding by all the governmental regulations. This will ensure the security for both the investors as well as the STOs in question.
To summarize the solutions Dusk Network provides for the future of STOs:
- A Platform to run STOs fully.
- Dusk Network will be the home for XST (Anonymous Security Tokens) tokens the way Ethereum is for ERC20 tokens
- Dusk Network will provide complete on-chain privacy for the investors and hence completely abide by the anticipated regulations for funding future projects, whilst also satisfying regulators.
- The privacy provided by Dusk Network will be the catalyst needed to attract institutional investors for future STOs as investors can’t legally have their investments made public
Conclusion
Dusk Network is laser focused on delivering three key use cases: payments, digital asset transfer, and p2p communication. It will provide an ecosystem that allows for the best tradeoff between privacy and transparency. The market shifting towards the Security Token space will be a great fit with an innately suitable architecture like the Dusk Network.
How to learn more about Dusk Network
The Dusk Network is a project coordinated by the Dusk Foundation. We are a decentralized ecosystem entirely focused on providing the perfect trade-off between privacy and transparency. Dusk protects privacy and fits regulations in payments, communications and asset transfers.
Please consider joining us at the following media:
September 08, 2018, 02:01:50 PM
It looks good thanks! How could I invest? I have btc. What should I do?
August 31, 2018, 05:24:56 AM
Your project Dusk Network was listed on CryptoKrunch.io!
Follow https://cryptokrunch.io/en/ico/Dusk+Network to check it.
Please contact us if any ICO information is missing or incorrect.
Follow https://cryptokrunch.io/en/ico/Dusk+Network to check it.
Please contact us if any ICO information is missing or incorrect.
September 08, 2018, 12:51:30 PM
At first I did not understand where the white paper was. I clicked on the link to the site. Very well decorated. In such a description, white paper is not needed separately. The taste of the project marketers is felt - good design. Good luck!
September 08, 2018, 12:13:30 PM
Yes it looks pretty good! I think this project has a future. So that you can monitor the activity of developers.
September 08, 2018, 12:07:22 PM
I agree with you. Great project, see how it goes.
September 08, 2018, 11:08:19 AM
indeed you need to add more useful technical information. How does it all work? what are your goals and objectives? what about your team, are there any successful projects already implemented?
September 08, 2018, 08:48:20 AM
Great work team, hopefully some benefits for your loyal early supporters 😁🍻
August 31, 2018, 05:10:04 AM
Why Fungibility Matters
The concept of the Blockchain first bubbled to the surface of our cyber-consciousness in mid-2008 when Satoshi Nakamoto published a whitepaper titled “BitCoin: A Peer to Peer Electronic Cash System”. The paper presented the first use case for the technology — a digital currency.
Since then many developers have thought up other use cases and have pitched for funding to bring their ideas to fruition. According to an article published in April, cryptocurrency startups have raised over USD 6 Billion in 2018 alone by selling their crypto coins to early backers; similar to how shares of a company get sold to investors. These are called Initial Coin Offerings (ICOs).
However, a report produced by Fabric Ventures in collaboration with Token Data reviewed 2017 statistics and found that only 48% of ICO funded crypto startups were successful. Compound this with the scarcity of projects bringing in-demand, functional value, and the marketplace’s exposure to fraudulent ICO campaigns on a regular basis. Your average business owner will no doubt take a ‘wait and see’ approach before putting their business functions or applications onto a blockchain.
At present, the majority of enterprise blockchain solutions are for the financial technology sector. It is understandably so because the cryptocurrency market acts as proof of concept. In implementing the solution, the industry tends to opt for ‘private’ (permissioned) blockchains, where they run their blockchain in a sort of private Intranet and restrict connectivity to outside networks. That’s fine for now, but if we want to exploit the full benefits of this technology, then we must accept that private (permissioned) blockchains are a suboptimal solution.
For mass adoption to take place, there are specific assurances that the user must have. Perhaps the most important of them all is the assurance that their data is fungible.
Fungibility Matters
Fungibility is a legacy of the trade practices of the Roman Empire. We can trace it back to the Latin verb ‘fungere’ which means ‘to perform’. It is the idea that when trading perishable goods we must assure that one portion of its weight is of equal value to any other portion if they are of the same weight. So one bale of wheat performs the same function as any other bale of wheat when traded in the same marketplace.
When we began to use paper currency, this idea was carried over. If a buyer had a 50 Euro note that was either lost or destroyed, it was in the best interest of the marketplace to allow the buyer to replace it with an equivalent 50 Euro note. Regardless of the source. So the idea of fungibility exists because it promotes ease and efficiency of trade. It is a requirement for basic addition, and interchangeability of said good or currency.
Fungibility in Blockchain Networks
Since the first use case for the blockchain was a digital currency Satoshi Nakamoto carried over the idea of fungibility to promote ease and efficiency of information exchange; just like in the marketplace.
However, in the case of Bitcoin true fungibility has not been achieved, and many subsequent tokens or cryptocurrencies are not fungible. Although it is true that 1 BTC + 1 BTC = 2 BTC, we are starting to see this potentially changing in the future. Due to the complete open and transparent nature of the bitcoin blockchain there is a full record of all transaction ever done. Some of these might have been done with malicious intent or for fraudulent activities. Because of the nature of the blockchain we know exactly which bitcoins were used for ‘bad things’. Now a company might not want to associate itself with these types of activities and therefore only want ‘clean’ bitcoins. This means that one bitcoin suddenly isn’t the same anymore as another bitcoin, and could lead to a premium being paid for a clean bitcoin, as opposed to one with a negative history, regardless of them being technically identical. There are some counter movements such as ‘Washing’ or ‘Mixing’ bitcoin that effectively try to reduce your exposure to ‘bad’ bitcoins but it is easy to see how this aspect of the bitcoin blockchain might prove troublesome in the future.
With the assurance of real fungibility the widespread adoption of blockchain technology is more likely, not just in the financial tech space. If it is possible for the origin of a crypto coin to be invisible from the rest of the network, then the same is possible for other forms of data as well. The knowledge that data is protected, at the deepest possible encryption levels, will give individual users, businesses and institutions the confidence to use applications built on top of it.
It Matters to the Dusk Foundation
The Dusk Foundation is created to advance the research and development of the unrestricted, un-surveilled and fully distributed blockchain-based cryptosystem called Dusk Network.
The Foundation believes in promoting an ecosystem of bi-directional peer-to-peer data transmission networks that are private, immutable, scalable and decentralized. This belief is why the Dusk Network is designed to offer these features to businesses and developers who have applications that require high bandwidth and low latency while remaining secure and private.
The network protocol is optimized for speed — completion times to show proofs or achieve consensus have been reduced, and data packets are bundled to use bandwidth efficiently. The network is built to scale — the Dusk team have developed a Segregated Byzantine Consensus algorithm that guides the growth of the blockchain while maintaining its integrity.
The Scope is laser focused, but the possibilities are endless
At the Dusk Foundation we focus on one thing; privacy, in all its flavors. Of course there are many relevant technical aspects to the network to empower this, such as the all important fungibility. However providing various degrees of privacy, whether for a file streaming service, financial transaction, security token, or video game interaction.
We encourage everyone who believes in personal freedom, economic liberty, information pluralism, and the right to privacy, to follow the development of the project at our Telegram channel. For more details on how the technology works, please visit our website and read the project’s white paper.
How to learn more about Dusk Network
The Dusk Network is a project coordinated by the Dusk Foundation. We are a decentralized ecosystem entirely focused on providing the perfect trade-off between privacy and transparency. Dusk protects privacy and fits regulations in payments, communications and asset transfers.
Please consider joining us at the following media:
The concept of the Blockchain first bubbled to the surface of our cyber-consciousness in mid-2008 when Satoshi Nakamoto published a whitepaper titled “BitCoin: A Peer to Peer Electronic Cash System”. The paper presented the first use case for the technology — a digital currency.
Since then many developers have thought up other use cases and have pitched for funding to bring their ideas to fruition. According to an article published in April, cryptocurrency startups have raised over USD 6 Billion in 2018 alone by selling their crypto coins to early backers; similar to how shares of a company get sold to investors. These are called Initial Coin Offerings (ICOs).
However, a report produced by Fabric Ventures in collaboration with Token Data reviewed 2017 statistics and found that only 48% of ICO funded crypto startups were successful. Compound this with the scarcity of projects bringing in-demand, functional value, and the marketplace’s exposure to fraudulent ICO campaigns on a regular basis. Your average business owner will no doubt take a ‘wait and see’ approach before putting their business functions or applications onto a blockchain.
At present, the majority of enterprise blockchain solutions are for the financial technology sector. It is understandably so because the cryptocurrency market acts as proof of concept. In implementing the solution, the industry tends to opt for ‘private’ (permissioned) blockchains, where they run their blockchain in a sort of private Intranet and restrict connectivity to outside networks. That’s fine for now, but if we want to exploit the full benefits of this technology, then we must accept that private (permissioned) blockchains are a suboptimal solution.
For mass adoption to take place, there are specific assurances that the user must have. Perhaps the most important of them all is the assurance that their data is fungible.
Fungibility Matters
Fungibility is a legacy of the trade practices of the Roman Empire. We can trace it back to the Latin verb ‘fungere’ which means ‘to perform’. It is the idea that when trading perishable goods we must assure that one portion of its weight is of equal value to any other portion if they are of the same weight. So one bale of wheat performs the same function as any other bale of wheat when traded in the same marketplace.
When we began to use paper currency, this idea was carried over. If a buyer had a 50 Euro note that was either lost or destroyed, it was in the best interest of the marketplace to allow the buyer to replace it with an equivalent 50 Euro note. Regardless of the source. So the idea of fungibility exists because it promotes ease and efficiency of trade. It is a requirement for basic addition, and interchangeability of said good or currency.
Fungibility in Blockchain Networks
Since the first use case for the blockchain was a digital currency Satoshi Nakamoto carried over the idea of fungibility to promote ease and efficiency of information exchange; just like in the marketplace.
However, in the case of Bitcoin true fungibility has not been achieved, and many subsequent tokens or cryptocurrencies are not fungible. Although it is true that 1 BTC + 1 BTC = 2 BTC, we are starting to see this potentially changing in the future. Due to the complete open and transparent nature of the bitcoin blockchain there is a full record of all transaction ever done. Some of these might have been done with malicious intent or for fraudulent activities. Because of the nature of the blockchain we know exactly which bitcoins were used for ‘bad things’. Now a company might not want to associate itself with these types of activities and therefore only want ‘clean’ bitcoins. This means that one bitcoin suddenly isn’t the same anymore as another bitcoin, and could lead to a premium being paid for a clean bitcoin, as opposed to one with a negative history, regardless of them being technically identical. There are some counter movements such as ‘Washing’ or ‘Mixing’ bitcoin that effectively try to reduce your exposure to ‘bad’ bitcoins but it is easy to see how this aspect of the bitcoin blockchain might prove troublesome in the future.
With the assurance of real fungibility the widespread adoption of blockchain technology is more likely, not just in the financial tech space. If it is possible for the origin of a crypto coin to be invisible from the rest of the network, then the same is possible for other forms of data as well. The knowledge that data is protected, at the deepest possible encryption levels, will give individual users, businesses and institutions the confidence to use applications built on top of it.
It Matters to the Dusk Foundation
The Dusk Foundation is created to advance the research and development of the unrestricted, un-surveilled and fully distributed blockchain-based cryptosystem called Dusk Network.
The Foundation believes in promoting an ecosystem of bi-directional peer-to-peer data transmission networks that are private, immutable, scalable and decentralized. This belief is why the Dusk Network is designed to offer these features to businesses and developers who have applications that require high bandwidth and low latency while remaining secure and private.
The network protocol is optimized for speed — completion times to show proofs or achieve consensus have been reduced, and data packets are bundled to use bandwidth efficiently. The network is built to scale — the Dusk team have developed a Segregated Byzantine Consensus algorithm that guides the growth of the blockchain while maintaining its integrity.
The Scope is laser focused, but the possibilities are endless
At the Dusk Foundation we focus on one thing; privacy, in all its flavors. Of course there are many relevant technical aspects to the network to empower this, such as the all important fungibility. However providing various degrees of privacy, whether for a file streaming service, financial transaction, security token, or video game interaction.
We encourage everyone who believes in personal freedom, economic liberty, information pluralism, and the right to privacy, to follow the development of the project at our Telegram channel. For more details on how the technology works, please visit our website and read the project’s white paper.
How to learn more about Dusk Network
The Dusk Network is a project coordinated by the Dusk Foundation. We are a decentralized ecosystem entirely focused on providing the perfect trade-off between privacy and transparency. Dusk protects privacy and fits regulations in payments, communications and asset transfers.
Please consider joining us at the following media:
August 31, 2018, 05:04:18 AM
Here is is the review in russian on Dusk Network in russian https://cryptosherlock.club/dusk/
Thank you
August 30, 2018, 06:03:44 AM
Built on such a consensus algorithm, Dusk is balanced to be the first that is an important factor for investors.
August 29, 2018, 05:26:03 AM
Here is is the review in russian on Dusk Network in russian https://cryptosherlock.club/dusk/
August 24, 2018, 04:07:01 AM
Dusk Network - update
In our last update we announced our partnership with Kryha and Aylon Morley (which story has been picked up by cryptocoinupdates.com, and since we've been working hard behind the scenes. We provide a glimpse of what's going on behind the scenes in this update.
- TNO and Dusk officially took the first step toward a strategic partnership by signing a memorandum and formalizing their intent of forming a EU based blockchain consortium and leading the cryptographic research within the Dusk Network ecosystem. TNO stands for Netherlands Organisation for Applied Scientific Research and is the most prominent applied research thinktank in the Netherlands. We will share more on this story later!
- We are shaping the public development effort for Dusk Network. This means interviewing developers who will join the public developer group and carving out the processes to make it a succes.
- We have been interviewed by various newsoutlets. Below is a small excerpt of a question we are most exciting about covered by Base.info
Read the full article here!
Q: Describe your project in 3 years? Will it change something in the world?
A: Tokenization of security is the first step toward the automation of organization governance. This is in par with the vision surrounding the so called Decentralized Autonomous Organizations. Tokenizing equity leads to automating cashflow stream, which in turns leads to autonomous governance, and finally business automation and autonomous organization
Security tokens are a necessary initial step and we want to contribute by adding the missing attribute of confidentiality in order to ignite an ecosystem which will hopefully evolve toward the implementation of autonomous decentralized companies. We want to achieve that by letting such organizations avail of an efficient and secure communication infrastructure together with access to many different blockchains in the spirit of interoperation.
How to learn more about Dusk Network
The Dusk Network is a project coordinated by the Dusk Foundation. We are a decentralized ecosystem entirely focused on providing the perfect trade-off between privacy and transparency. Dusk protects privacy and fits regulations in payments, communications and asset transfers.
Please consider joining us at the following media:
In our last update we announced our partnership with Kryha and Aylon Morley (which story has been picked up by cryptocoinupdates.com, and since we've been working hard behind the scenes. We provide a glimpse of what's going on behind the scenes in this update.
- TNO and Dusk officially took the first step toward a strategic partnership by signing a memorandum and formalizing their intent of forming a EU based blockchain consortium and leading the cryptographic research within the Dusk Network ecosystem. TNO stands for Netherlands Organisation for Applied Scientific Research and is the most prominent applied research thinktank in the Netherlands. We will share more on this story later!
- We are shaping the public development effort for Dusk Network. This means interviewing developers who will join the public developer group and carving out the processes to make it a succes.
- We have been interviewed by various newsoutlets. Below is a small excerpt of a question we are most exciting about covered by Base.info
Read the full article here!
Q: Describe your project in 3 years? Will it change something in the world?
A: Tokenization of security is the first step toward the automation of organization governance. This is in par with the vision surrounding the so called Decentralized Autonomous Organizations. Tokenizing equity leads to automating cashflow stream, which in turns leads to autonomous governance, and finally business automation and autonomous organization
Security tokens are a necessary initial step and we want to contribute by adding the missing attribute of confidentiality in order to ignite an ecosystem which will hopefully evolve toward the implementation of autonomous decentralized companies. We want to achieve that by letting such organizations avail of an efficient and secure communication infrastructure together with access to many different blockchains in the spirit of interoperation.
How to learn more about Dusk Network
The Dusk Network is a project coordinated by the Dusk Foundation. We are a decentralized ecosystem entirely focused on providing the perfect trade-off between privacy and transparency. Dusk protects privacy and fits regulations in payments, communications and asset transfers.
Please consider joining us at the following media:
August 23, 2018, 12:26:13 AM
The Dusk Foundation has a unique plan that would see the true potential of decentralized technology such as blockchain being used for the betterment of humanity. With it, freedom of information will be truly achieved and as the platform would expand, the worldwide use would mean that no authority of any nation would be able to suppress any kind of information.
August 14, 2018, 06:28:57 AM
Hi! We analyzed your project and your rating was updated https://icoholder.com/en/dusk-network-23242 🔥 . Congratulations!
August 16, 2018, 01:38:13 PM
Secure Tunnel Switching Explained
What is the Dusk Network?
The Dusk Network is a decentralized infrastructure focused on providing the sweet-spot between privacy and transparency in payments, communication and asset ownership transfers. It departs from consensus mechanisms like PoW/PoS, which are poorly suited for privacy, to introduce a new privacy-oriented consensus mechanism called Segregated Byzantine Agreement. Dusk is a new blockchain that provides true privacy and a fast and a secure streaming mechanism called Secure Tunnel Switching (STS), all powered by a privacy-oriented cryptocurrency: DUSK.
In this introductory series we aim to take a look at specific aspects of the Dusk Network and explain them in a nutshell. In this article we will look at Dusk’s Secure Tunnel Switching (STS) mechanism, a circuit switching technique allowing for safe p2p transfer.
For a detailed description of Dusk’s STS please refer to the whitepaper.
What is Secure Tunnel Switching?
As explained in our previous article Dusk Network uses an advanced version of Garlic Routing. The obfuscation of someone’s identity and IP address becomes highly relevant when we are not simply transacting, but also communicating. The Anonymous Network Layer can be viewed as an entry point to the Dusk Network, after which a user could decide to communicate directly with a peer, thus progressing to the Secure Tunnel Switching layer for a voice or video call. Put simply, Secure Tunnel Switching is a circuit switching technique inspired by the payphone, allowing decentralized pay-as-you-go, as well as increased security. You can use STS for all types of high data rate communications, such as streaming (unidirectional) or voice/video calls (bidirectional).
Before we delve deeper into how tunnel switching improves privacy, one practical implication that immediately comes to mind is: ‘how are transaction costs regulated? Because if the value of the Dusk token can fluctuate, how do I know how much I am going to spend on a certain real-time audio, video or data transfer?’. In order to answer this question, let’s use the following example: node A (Alice) wants to establish a secure data stream with node B (Bob), for which it knows the relevant Dusk address. Before establishing any connection attempt, Alice will commit a payment using an off-chain transaction towards a so-called State Channel Access Point (SCAP), for a dynamic value that will be auto-regulated by the Dusk core. This is done to keep the transmission cost stable, and also independent from token fluctuations.
How does it work?
When two parties, Alice and Bob, want to communicate directly they can use STS to do so. Alice commits a payment to a SCAP, hereby freezing her status on the blockchain until communication closes. A communication circuit is then opened towards Bob, through a various number of gateway nodes that can support the required data stream. Bob starts to receive said data stream and Alice and Bob are now communicating. Assuming Alice wants to continue communication for a reasonable amount of time, say longer than a minute, she will be opening a new circuit (tunnel) towards Bob in parallel to the first one. Bob will receive both data streams simultaneously and uses a technique called bitmatching, simply put Bob will correlate both streams until they are perfectly synchronized. When this happens then Bob will drop the old stream, and continue communication purely through the new one. This process repeats itself as Alice and Bob continue communications. This procedure will repeat for as long as Alice renews the transactions costs with the SCAS to keep streaming data.
Whilst this process brings along some time lag in the VoIP call (solved by bitmatching) it dramatically improves security and anonymity over a conventional Garlic Tunnel connection. By switching the data tunnel at regular intervals, a malicious attacker would be unable to predict compromised nodes, perform DDoS attacks, and in general exploit vulnerabilities on the network. Assuming an interval of 1 minute per tunnel a malicious node would never hold more than a minute of highly encrypted information sent between peers that he does not know and has no way of identifying.
Additionally, Dusk Network will offer the capability to transfer files, both online and offline, over its network in an decentralized, anonymous and secure fashion. To implement this on the network, Dusk combines the capabilities of the anonymous peer discovery and gossip mechanism previously described with those of a third party decentralized and anonymous storage service (for example the Orc Object Storage). In case the receiving user is offline, the file will remain, for example, downloadable for 30 days after the day of sending the file.
Payphone analogy
As alluded to earlier the Secure Tunnel Switching mechanism is highly inspired by the traditional payphone. Alice performs a state channel payment in a similar fashion as you would enter a token or coin into a payphone to open a connection. The payphone also uses circuiting to connect you to the correct recipient, and as soon as your connection has been made your timer starts running down. If you wanted to continue talking, you would simply enter another coin or token and you could keep calling using the payphone. STS is very similar, except that rather than a single payphone you could imagine an endless corridor filled with payphones, and every time your minute almost runs out you put your next coin into a different payphone, that uses a different circuit, to reach a different payphone on the receiving side.
Conclusion
Dusk Network uses STS as a mechanism to allow for high data rate, secure transmission and communication between peers, using state channels, and a cryptographically secure pay as you go mechanism.
How to learn more about Dusk Network
The Dusk Network is a project coordinated by the Dusk Foundation. We are a decentralized ecosystem entirely focused on providing the perfect tradeoff between privacy and transparency. Dusk protects privacy and fits regulations in payments, communications and asset transfers.
Please consider joining us at the following media:
What is the Dusk Network?
The Dusk Network is a decentralized infrastructure focused on providing the sweet-spot between privacy and transparency in payments, communication and asset ownership transfers. It departs from consensus mechanisms like PoW/PoS, which are poorly suited for privacy, to introduce a new privacy-oriented consensus mechanism called Segregated Byzantine Agreement. Dusk is a new blockchain that provides true privacy and a fast and a secure streaming mechanism called Secure Tunnel Switching (STS), all powered by a privacy-oriented cryptocurrency: DUSK.
In this introductory series we aim to take a look at specific aspects of the Dusk Network and explain them in a nutshell. In this article we will look at Dusk’s Secure Tunnel Switching (STS) mechanism, a circuit switching technique allowing for safe p2p transfer.
For a detailed description of Dusk’s STS please refer to the whitepaper.
What is Secure Tunnel Switching?
As explained in our previous article Dusk Network uses an advanced version of Garlic Routing. The obfuscation of someone’s identity and IP address becomes highly relevant when we are not simply transacting, but also communicating. The Anonymous Network Layer can be viewed as an entry point to the Dusk Network, after which a user could decide to communicate directly with a peer, thus progressing to the Secure Tunnel Switching layer for a voice or video call. Put simply, Secure Tunnel Switching is a circuit switching technique inspired by the payphone, allowing decentralized pay-as-you-go, as well as increased security. You can use STS for all types of high data rate communications, such as streaming (unidirectional) or voice/video calls (bidirectional).
Before we delve deeper into how tunnel switching improves privacy, one practical implication that immediately comes to mind is: ‘how are transaction costs regulated? Because if the value of the Dusk token can fluctuate, how do I know how much I am going to spend on a certain real-time audio, video or data transfer?’. In order to answer this question, let’s use the following example: node A (Alice) wants to establish a secure data stream with node B (Bob), for which it knows the relevant Dusk address. Before establishing any connection attempt, Alice will commit a payment using an off-chain transaction towards a so-called State Channel Access Point (SCAP), for a dynamic value that will be auto-regulated by the Dusk core. This is done to keep the transmission cost stable, and also independent from token fluctuations.
How does it work?
When two parties, Alice and Bob, want to communicate directly they can use STS to do so. Alice commits a payment to a SCAP, hereby freezing her status on the blockchain until communication closes. A communication circuit is then opened towards Bob, through a various number of gateway nodes that can support the required data stream. Bob starts to receive said data stream and Alice and Bob are now communicating. Assuming Alice wants to continue communication for a reasonable amount of time, say longer than a minute, she will be opening a new circuit (tunnel) towards Bob in parallel to the first one. Bob will receive both data streams simultaneously and uses a technique called bitmatching, simply put Bob will correlate both streams until they are perfectly synchronized. When this happens then Bob will drop the old stream, and continue communication purely through the new one. This process repeats itself as Alice and Bob continue communications. This procedure will repeat for as long as Alice renews the transactions costs with the SCAS to keep streaming data.
Whilst this process brings along some time lag in the VoIP call (solved by bitmatching) it dramatically improves security and anonymity over a conventional Garlic Tunnel connection. By switching the data tunnel at regular intervals, a malicious attacker would be unable to predict compromised nodes, perform DDoS attacks, and in general exploit vulnerabilities on the network. Assuming an interval of 1 minute per tunnel a malicious node would never hold more than a minute of highly encrypted information sent between peers that he does not know and has no way of identifying.
Additionally, Dusk Network will offer the capability to transfer files, both online and offline, over its network in an decentralized, anonymous and secure fashion. To implement this on the network, Dusk combines the capabilities of the anonymous peer discovery and gossip mechanism previously described with those of a third party decentralized and anonymous storage service (for example the Orc Object Storage). In case the receiving user is offline, the file will remain, for example, downloadable for 30 days after the day of sending the file.
Payphone analogy
As alluded to earlier the Secure Tunnel Switching mechanism is highly inspired by the traditional payphone. Alice performs a state channel payment in a similar fashion as you would enter a token or coin into a payphone to open a connection. The payphone also uses circuiting to connect you to the correct recipient, and as soon as your connection has been made your timer starts running down. If you wanted to continue talking, you would simply enter another coin or token and you could keep calling using the payphone. STS is very similar, except that rather than a single payphone you could imagine an endless corridor filled with payphones, and every time your minute almost runs out you put your next coin into a different payphone, that uses a different circuit, to reach a different payphone on the receiving side.
Conclusion
Dusk Network uses STS as a mechanism to allow for high data rate, secure transmission and communication between peers, using state channels, and a cryptographically secure pay as you go mechanism.
How to learn more about Dusk Network
The Dusk Network is a project coordinated by the Dusk Foundation. We are a decentralized ecosystem entirely focused on providing the perfect tradeoff between privacy and transparency. Dusk protects privacy and fits regulations in payments, communications and asset transfers.
Please consider joining us at the following media:
August 16, 2018, 04:58:44 AM
That a very good project, this will save business people
August 16, 2018, 04:56:07 AM
a good project and an excellent team, its structure was very well set up and I wish them luck, so far their project has enchanted me
August 14, 2018, 12:50:17 PM
Dusk Network Partners with Kryha to create the First Blockchain Consortium to Tackle Privacy & Regulatory Compliance.
Dusk Network partners up with Kryha to develop the first blockchain project in the EU that reconciles decentralized privacy with transparency.
Amsterdam — July 2018 — Dusk Foundation, the not-for-profit blockchain research organization, is announcing its partnership with Kryha, the project and management company responsible for the development of blockchain-based products. Kryha and Dusk Foundation will complete the technological roadmap of the Dusk Network, its decentralized infrastructure that secures privacy-enabled financial transactions, communication, and asset ownership transfers among peers, and promote its capabilities within the European Union.
Dusk Foundation is the leading company and coordinator of the European Consortium, aiming to develop and implement the Dusk Network technology. The Dusk Network provides users with an unsurveilled platform, promoting freedom of self-expression and economic initiative using a cryptocurrency that is centered on privacy. Through the Dusk Network, Dusk Foundation reconciles the right to privacy with regulatory compliance by enabling the proper confidentiality for a variety of use cases, from a surveillance-free solution to blocked communication and data transmission, to KYC-enabled issuance and transfer of tokenized securities.
Kryha is an award-winning company involved in the development of blockchain-based products within many international corporations and local administrations. Kryha has proven experience reconciling the gaps between blockchain-based endeavors and their need to comply with various regulations centered around transparency. As Dusk’s newest development partner, Kryha will implement changes and illustrate vital expertise within the newly constructed consortium, while simultaneously enhancing exposure of the Dusk Network to their current clientele.
Kryha winning the Blockchaingers Machine-to-Machine hackathon.
Together, Kryha and the Dusk Foundation will represent the consortium as they explore potential development partners within the EU. Notably, Kryha has a track record of receiving high-profile funding, having previously won a variety of research grants within the Netherlands, such as the MIT Top Sector innovation grant.
“At Dusk Foundation, we’re embarking on an exciting journey that will surely lead to a flourishing and committed consortium of blockchain-based development partners under the aegis of the European Union,” says Emanuele Francioni, Project and Tech Lead of Dusk Foundation. “We couldn’t be prouder of our new partner and addition to the consortium, Kryha, who we look forward to working with as they provide insightful expertise critical to the Dusk Network technology and its roadmap.”
“We’re excited to work with Dusk Foundation and contribute to the Dusk Network technology as we lend our guidance to the already impressive project making great strides in the field of privacy and research,” says Tobias Disse, CEO of Kryha. “As a team and active development partner within the consortium, Dusk Foundation and Kryha will bring blockchain to the European masses and implement its technology to the fullest.”
About Dusk:
The Dusk Foundation is a not-for-profit that governs the fundraising and realization of the Dusk Network. Its main task is to advance the research and development of the unrestricted, unsurveilled and fully distributed blockchain-based Dusk Network, while promoting the utilization and diffusion of its digital cash, DUSK. The objective of the Dusk Foundation is to advance the sustainability of a true decentralized ecosystem, conceived to protect the right to privacy, which is an existential prerequisite for confidential business activities, state security, human and business relationships, and ultimately, personal freedom.
About Kryha:
Kryha was founded in 2017 as a multidisciplinary team of blockchain experts with a proven track record of designing and building effective prototypes and products with blockchain technology. Working for both the private and public sector, Kryha has extensive experience in guiding clients through the process of selecting use cases, designing concepts, and building prototypes. Previously, Kryha has worked with many established corporations and local administrations that include Shell, KLM, and the Municipality of Amsterdam.
Please consider joining us at the following media:
Dusk Network partners up with Kryha to develop the first blockchain project in the EU that reconciles decentralized privacy with transparency.
Amsterdam — July 2018 — Dusk Foundation, the not-for-profit blockchain research organization, is announcing its partnership with Kryha, the project and management company responsible for the development of blockchain-based products. Kryha and Dusk Foundation will complete the technological roadmap of the Dusk Network, its decentralized infrastructure that secures privacy-enabled financial transactions, communication, and asset ownership transfers among peers, and promote its capabilities within the European Union.
Dusk Foundation is the leading company and coordinator of the European Consortium, aiming to develop and implement the Dusk Network technology. The Dusk Network provides users with an unsurveilled platform, promoting freedom of self-expression and economic initiative using a cryptocurrency that is centered on privacy. Through the Dusk Network, Dusk Foundation reconciles the right to privacy with regulatory compliance by enabling the proper confidentiality for a variety of use cases, from a surveillance-free solution to blocked communication and data transmission, to KYC-enabled issuance and transfer of tokenized securities.
Kryha is an award-winning company involved in the development of blockchain-based products within many international corporations and local administrations. Kryha has proven experience reconciling the gaps between blockchain-based endeavors and their need to comply with various regulations centered around transparency. As Dusk’s newest development partner, Kryha will implement changes and illustrate vital expertise within the newly constructed consortium, while simultaneously enhancing exposure of the Dusk Network to their current clientele.
Kryha winning the Blockchaingers Machine-to-Machine hackathon.
Together, Kryha and the Dusk Foundation will represent the consortium as they explore potential development partners within the EU. Notably, Kryha has a track record of receiving high-profile funding, having previously won a variety of research grants within the Netherlands, such as the MIT Top Sector innovation grant.
“At Dusk Foundation, we’re embarking on an exciting journey that will surely lead to a flourishing and committed consortium of blockchain-based development partners under the aegis of the European Union,” says Emanuele Francioni, Project and Tech Lead of Dusk Foundation. “We couldn’t be prouder of our new partner and addition to the consortium, Kryha, who we look forward to working with as they provide insightful expertise critical to the Dusk Network technology and its roadmap.”
“We’re excited to work with Dusk Foundation and contribute to the Dusk Network technology as we lend our guidance to the already impressive project making great strides in the field of privacy and research,” says Tobias Disse, CEO of Kryha. “As a team and active development partner within the consortium, Dusk Foundation and Kryha will bring blockchain to the European masses and implement its technology to the fullest.”
About Dusk:
The Dusk Foundation is a not-for-profit that governs the fundraising and realization of the Dusk Network. Its main task is to advance the research and development of the unrestricted, unsurveilled and fully distributed blockchain-based Dusk Network, while promoting the utilization and diffusion of its digital cash, DUSK. The objective of the Dusk Foundation is to advance the sustainability of a true decentralized ecosystem, conceived to protect the right to privacy, which is an existential prerequisite for confidential business activities, state security, human and business relationships, and ultimately, personal freedom.
About Kryha:
Kryha was founded in 2017 as a multidisciplinary team of blockchain experts with a proven track record of designing and building effective prototypes and products with blockchain technology. Working for both the private and public sector, Kryha has extensive experience in guiding clients through the process of selecting use cases, designing concepts, and building prototypes. Previously, Kryha has worked with many established corporations and local administrations that include Shell, KLM, and the Municipality of Amsterdam.
Please consider joining us at the following media:
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