Dusk Network is a privacy-oriented blockchain protocol that features Segregated Byzantine Agreement to provide privacy, programmability, and contract auditability. It is built by a team of entrepreneurs, engineers and researchers with technical experience at Amazon, TomTom, Mozilla, Reaktor, and blockchain backgrounds (Zcash, City of Zion, NEO Research, etc). In this article, we will explore the Dusk Network and Dusk Network coin.
What is Dusk Network (DUSK)?
Although Dusk Network is currently in the testnet phase, it has ambitious goals of being a blockchain protocol designed for easy deployment of programmable Zero Knowledge dApps, and potentially be the foundation of an open, permissionless and global privacy-oriented dApp ecosystem.
The project also wants to remove technical barriers that were obstacles to mainstream issuance and trading of products such as security tokens. Compliance auditability and privacy are built into the open, permissionless Confidential Security Token Standard (“XSC”).
At its core, Dusk Network aims to achieve on-chain privacy and programmability while maintaining high-throughput and instantaneous transactions.
The Dusk Network coin (DUSK) is the native token of the Dusk Network, and it has numerous uses on the network.
Uses of Dusk Network coin (DUSK)
The DUSK token is used to stake and participate in the consensus, and users who do so stand a chance to be rewarded with more tokens. The DUSK token is also used to pay for transactions, deploying dApps, and as gas. The DUSK token can also be traded for XSC-based tokens, both one way and through atomic swaps. Once XSC is released, the DUSK token will be used for on-chain governance.
Segregated Byzantine Agreement
The roles in the protocol are segregated into two different node types: Block Generators and Provisioners. Block Generators compete in a recurring lottery for the power to submit block candidates, while Provisioners run consensus over the selection of the lottery winners and acceptance of their proposed block. In order to become Block Generators, full nodes submit a confidential transaction called Blind Bid. Provisioners, instead, are required to stake their DUSK publicly, while participating in the consensus.
In Conclusion
The Dusk Network coin (DUSK) is a token that governs the Dusk Network, and has many uses in staking and transactions. The Dusk Network also features a revolutionary consensus mechanism in the Segregated Byzantine Agreement, where the protocol is split into two different node types: Block Generators and Provisioners.
