[ANN] | DUSK Network | Privacy-oriented blockchain for Digital Securities!

[DuskNetwork]

It seems that this project is going strong in terms of the team's capability to deliver it. By the way when are you guys plan to activate the main net? and what is the status of its development?

Our mainnet is scheduled for launch in Q2 2019. Development is coming along nicely. We will publish a developer blog each month and update GitHub, once we pass the security audits, respectively.

[1714761247]

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[1714761247]

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[DuskNetwork]

In regards to your question about MVP/Prototype
 
As for the MVP part, this is a research project about an advanced blockchain protocol, not an app. In that sense MVP has no meaning. But rest assured we are going to implement the technology iteratively and according to a set of specifications that are in our opinion close to an ISO standard.

In fact the very question about “showing code and progress” is very valid and we see it asked often in the cryptocommunity. But its important to understand that it comes from the fact that nowadays blockchain whitepapers are nothing more than a business plan full of technical claims that are not substantiated by a carefully laid out analysis or by formal descriptions of the envisioned algorithms. In that regard inspecting the code base is a way to understand the legitimacy of the development efforts and its “progress”. Dusk research paper is exactly the opposite and way more advanced. It goes to a great extent to describe accurately the technology used and the algorithm. You won’t find details of business development or even use cases. This because it is intended as a development manifesto (a proof of concept - similar to what an aforementioned prototype or MPV would prove) of a complete system with all components laid out and specified quite formally. In that sense, by inspecting code you would learn nothing more than what is already laid out quite accurately in the research.

[matjas]

In regards to your question about MVP/Prototype
 
As for the MVP part, this is a research project about an advanced blockchain protocol, not an app. In that sense MVP has no meaning. But rest assured we are going to implement the technology iteratively and according to a set of specifications that are in our opinion close to an ISO standard.

In fact the very question about “showing code and progress” is very valid and we see it asked often in the cryptocommunity. But its important to understand that it comes from the fact that nowadays blockchain whitepapers are nothing more than a business plan full of technical claims that are not substantiated by a carefully laid out analysis or by formal descriptions of the envisioned algorithms. In that regard inspecting the code base is a way to understand the legitimacy of the development efforts and its “progress”. Dusk research paper is exactly the opposite and way more advanced. It goes to a great extent to describe accurately the technology used and the algorithm. You won’t find details of business development or even use cases. This because it is intended as a development manifesto (a proof of concept - similar to what an aforementioned prototype or MPV would prove) of a complete system with all components laid out and specified quite formally. In that sense, by inspecting code you would learn nothing more than what is already laid out quite accurately in the research.

It makes sense, but it's specifics of crypto. Some investors need more tangible proof, because there are unfortunately too many scam projects and just average projects that won't likely become successful. And with mvp or a demo there is a higher chance to figure out what is what.

[lobat999]

It seems that this project is going strong in terms of the team's capability to deliver it. By the way when are you guys plan to activate the main net? and what is the status of its development?

Our mainnet is scheduled for launch in Q2 2019. Development is coming along nicely. We will publish a developer blog each month and update GitHub, once we pass the security audits, respectively.

Great to hear that! At least the community gets to see your GitHub codes and that is fine with me as long as we see an active development coming along the way. Please update us asap on your security audits.

[DuskNetwork]

Apologies for the image error mess on this thread. The image hosting website is down.

[viljy]

In regards to your question about MVP/Prototype
 
As for the MVP part, this is a research project about an advanced blockchain protocol, not an app. In that sense MVP has no meaning. But rest assured we are going to implement the technology iteratively and according to a set of specifications that are in our opinion close to an ISO standard.

In fact the very question about “showing code and progress” is very valid and we see it asked often in the cryptocommunity. But its important to understand that it comes from the fact that nowadays blockchain whitepapers are nothing more than a business plan full of technical claims that are not substantiated by a carefully laid out analysis or by formal descriptions of the envisioned algorithms. In that regard inspecting the code base is a way to understand the legitimacy of the development efforts and its “progress”. Dusk research paper is exactly the opposite and way more advanced. It goes to a great extent to describe accurately the technology used and the algorithm. You won’t find details of business development or even use cases. This because it is intended as a development manifesto (a proof of concept - similar to what an aforementioned prototype or MPV would prove) of a complete system with all components laid out and specified quite formally. In that sense, by inspecting code you would learn nothing more than what is already laid out quite accurately in the research.

It's great that you plan to launch a network so soon.
But won't you start the test network first? This might be somewhat similar to MVP.

[DuskNetwork]

It's great that you plan to launch a network so soon.
But won't you start the test network first? This might be somewhat similar to MVP.

Our Devnet together with the wallet is scheduled for launch this quarter, with the testnet coming up in Q1 2019.

[loup]

How many people do you think are needed to get Dusk to mainnet? Because this seems quite a large undertaking, while the tech team is not that large. In comparison Cardano has 91 contributors on their Github and their are 26 people affiliated with Input Output.

The current team will be able to deliver the mainnet in time. Quality over Quantity Besides that, there will also be a public development group.

Dusk R&D
Dusk R&D is a research consortium where the primary goal is to iterate and improve on the Dusk Network white paper, and various research compendia. It will not only ensure a top notch technical system, but also the best talent in Europe working on improving Dusk Network. This research branch will feed directly into the two development teams and create a top-down adoption effect due to its academic and formalized validity.

There are three top notch research partner collaborations explored and/or confirmed and we will announce these as soon as we are able.

Dusk Core
Dusk Core is the development team directly led by Dusk’s own technical leads Emanuele Francioni, Fulvio Venturelli and others to be announced. They are responsible for the implementation of all the core aspects of the Dusk Network, such as our unique SBA* consensus mechanism, and our Secure Tunnel Switching methodology. They are complemented by our strategic partner, and award winning blockchain development team, Kryha.

Dawn Public Development
A community-driven development group. Dawn will concentrate on the user experience of Dusk Network, different language libraries, standardization, improvement proposals, Dusk wallet implementations, Dusk block explorer, and many more things. We look forward to announcing our Dawn community leads soon. They have extensive experience in blockchain and leading public development communities, and we are glad to have them onboard.

Some projects are paying public devs via bounties, the more you contribute, the more chance you have to win the bounty. You will follow this model with Dawn public development?

It is an interesting idea to have the community participate in development but I assume the good coders want more than winning a bounty.

Yes, but this step is ok, maybe some developers are hard believers in this project and are ok with working for it at the devs' terms and conditions.

It's true. Good developers for their work want decent payment. For the project it's important that everything will be in highest quality, including the code - good developers makes optimal and understandable code.

I agree many times cheaper options end up coming out more expensive at the end.

[iad_xo]

is it possible to explain how DUSK is going to achieve scalability issues that happening in current version of all chain? also is there any plan to create interoperability with other side chain?

[o48o]

Apologies for the image error mess on this thread. The image hosting website is down.

No worries, that happens often in every other thread in here. Everyone being in here long enough have been used to it already .

[bitcoinbulk]

Dawn Public Development
A community-driven development group. Dawn will concentrate on the user experience of Dusk Network, different language libraries, standardization, improvement proposals, Dusk wallet implementations, Dusk block explorer, and many more things. We look forward to announcing our Dawn community leads soon. They have extensive experience in blockchain and leading public development communities, and we are glad to have them onboard.

This sounds like a great idea, there not many projects doing that anymore.

I looked into the whitepaper and appreciated the fact is exploring the technical side rather than giving out empty marketing promises.
Even if i couldn't get 100% of what is in there i see the "how to achieve it" is explained.

I'm a big fan of this as well. The community is what really drives any crypto project. They are the ones that affect the price with their supply and demand, and they can help to get awareness for the project.

The more you can keep your community involved, the better!

[belechau]

Apologies for the image error mess on this thread. The image hosting website is down.

No worries, that happens often in every other thread in here. Everyone being in here long enough have been used to it already .

It is a common problem nowadays, especially in some cases related to the new classification policy. But I hope your site is down now is not a privacy issue, or something that goes on for a long time

[magisterr]

They want to issue security tokens? But for security tokens you must have a lot of licenses, and I dont think that SEC or any other government structure allow issue tokens on anonymous platform ...  

This is a misconception. In democratic societies, privacy is very well accepted and even enforced at legislative levels by policy makers. An example is the GDPR. Another is the SEC enforcing secrecy to trading bodies in the stock market to prevent price manipulation. The Dusk Network provides the same level of privacy enforced by regulators. Only, it eliminates the “trusted third party” and returns the power of disclosure directly to the user.

For instance, in the case of payment, it is the responsibility of the wallet holder to show the details of the transactions on request of the auditors (by providing a view-key). In the use case of security, compliant confidentiality is achieved with KYC built in the protocol and the use of zero knowledge accumulators to keep the whitelist confidential.

Here's an example of why STO's need privacy;
Publicly opening a position in a security, heavily manipulates the price of that security. If Blackrock wishes to open a, say, $10M long position on a tokenized stock, they would raise the price of that asset if they would do it publicly. This is why it is illegal in regulated markets to openly advertise positions and why the buy/sell wall tricks so often seen on token exchanges would lead to indictments on regulated security exchanges. This is also the reasons why financial institutions resort to let brokers open positions on different exchanges on their behalf and most often resort to darkpools to execute their purchases or sales. If you wanna get rid of the broker middlemen and cebtralization, while enjoying the same benefits of darkpools in a decentralized fashion without prohibitive mediator fees you need (regulator friendly) confidentiality.

But you will have smart contracts for creating tokens? Right? In which country your company registered and going to work?

[king_of_alts]

They want to issue security tokens? But for security tokens you must have a lot of licenses, and I dont think that SEC or any other government structure allow issue tokens on anonymous platform ...  

This is a misconception. In democratic societies, privacy is very well accepted and even enforced at legislative levels by policy makers. An example is the GDPR. Another is the SEC enforcing secrecy to trading bodies in the stock market to prevent price manipulation. The Dusk Network provides the same level of privacy enforced by regulators. Only, it eliminates the “trusted third party” and returns the power of disclosure directly to the user.

For instance, in the case of payment, it is the responsibility of the wallet holder to show the details of the transactions on request of the auditors (by providing a view-key). In the use case of security, compliant confidentiality is achieved with KYC built in the protocol and the use of zero knowledge accumulators to keep the whitelist confidential.

Here's an example of why STO's need privacy;
Publicly opening a position in a security, heavily manipulates the price of that security. If Blackrock wishes to open a, say, $10M long position on a tokenized stock, they would raise the price of that asset if they would do it publicly. This is why it is illegal in regulated markets to openly advertise positions and why the buy/sell wall tricks so often seen on token exchanges would lead to indictments on regulated security exchanges. This is also the reasons why financial institutions resort to let brokers open positions on different exchanges on their behalf and most often resort to darkpools to execute their purchases or sales. If you wanna get rid of the broker middlemen and cebtralization, while enjoying the same benefits of darkpools in a decentralized fashion without prohibitive mediator fees you need (regulator friendly) confidentiality.

But you will have smart contracts for creating tokens? Right? In which country your company registered and going to work?

Good question. These days you need to be incorporated or the authorities will knock on your door one day.

[sge99]

They want to issue security tokens? But for security tokens you must have a lot of licenses, and I dont think that SEC or any other government structure allow issue tokens on anonymous platform ...  

This is a misconception. In democratic societies, privacy is very well accepted and even enforced at legislative levels by policy makers. An example is the GDPR. Another is the SEC enforcing secrecy to trading bodies in the stock market to prevent price manipulation. The Dusk Network provides the same level of privacy enforced by regulators. Only, it eliminates the “trusted third party” and returns the power of disclosure directly to the user.

For instance, in the case of payment, it is the responsibility of the wallet holder to show the details of the transactions on request of the auditors (by providing a view-key). In the use case of security, compliant confidentiality is achieved with KYC built in the protocol and the use of zero knowledge accumulators to keep the whitelist confidential.

Here's an example of why STO's need privacy;
Publicly opening a position in a security, heavily manipulates the price of that security. If Blackrock wishes to open a, say, $10M long position on a tokenized stock, they would raise the price of that asset if they would do it publicly. This is why it is illegal in regulated markets to openly advertise positions and why the buy/sell wall tricks so often seen on token exchanges would lead to indictments on regulated security exchanges. This is also the reasons why financial institutions resort to let brokers open positions on different exchanges on their behalf and most often resort to darkpools to execute their purchases or sales. If you wanna get rid of the broker middlemen and cebtralization, while enjoying the same benefits of darkpools in a decentralized fashion without prohibitive mediator fees you need (regulator friendly) confidentiality.

But you will have smart contracts for creating tokens? Right? In which country your company registered and going to work?

Good question. These days you need to be incorporated or the authorities will knock on your door one day.

Somewhere on the website I read they are seated and registered in The Netherlands, I think it was Amsterdam.

[kraterion]

They want to issue security tokens? But for security tokens you must have a lot of licenses, and I dont think that SEC or any other government structure allow issue tokens on anonymous platform ...  

This is a misconception. In democratic societies, privacy is very well accepted and even enforced at legislative levels by policy makers. An example is the GDPR. Another is the SEC enforcing secrecy to trading bodies in the stock market to prevent price manipulation. The Dusk Network provides the same level of privacy enforced by regulators. Only, it eliminates the “trusted third party” and returns the power of disclosure directly to the user.

For instance, in the case of payment, it is the responsibility of the wallet holder to show the details of the transactions on request of the auditors (by providing a view-key). In the use case of security, compliant confidentiality is achieved with KYC built in the protocol and the use of zero knowledge accumulators to keep the whitelist confidential.

Here's an example of why STO's need privacy;
Publicly opening a position in a security, heavily manipulates the price of that security. If Blackrock wishes to open a, say, $10M long position on a tokenized stock, they would raise the price of that asset if they would do it publicly. This is why it is illegal in regulated markets to openly advertise positions and why the buy/sell wall tricks so often seen on token exchanges would lead to indictments on regulated security exchanges. This is also the reasons why financial institutions resort to let brokers open positions on different exchanges on their behalf and most often resort to darkpools to execute their purchases or sales. If you wanna get rid of the broker middlemen and cebtralization, while enjoying the same benefits of darkpools in a decentralized fashion without prohibitive mediator fees you need (regulator friendly) confidentiality.

But you will have smart contracts for creating tokens? Right? In which country your company registered and going to work?

They added smart contracts to the roadmap but you don't need them to issue new coins/tokens. People use smart contracts for tokens on ethereum because ICOs are a thing

[ParRus]

I found ten minute DUSK Network review, this blogger has considered many nuances, which will help to better understand the project:
https://www.youtube.com/watch?v=nwVoodR0d1U

[bitcoin-shark]

Apologies for the image error mess on this thread. The image hosting website is down.

No worries, that happens often in every other thread in here. Everyone being in here long enough have been used to it already .

It is a common problem nowadays, especially in some cases related to the new classification policy. But I hope your site is down now is not a privacy issue, or something that goes on for a long time

yes, it is a problem quite common nowadays, i hope it is not a serious technical problem and also hope team will resolved it as soon as possible...

[Rigorous]

I did a little background research on Dusk's strategic partner Kryha. Like Dusk, Kryha is also based in Amsterdam. They have connections with the local government and national companies like KLM and Randstand. Kryha has won a blockchain competition with a project that decentralizes the data of a swarm of drones. In summary, looks like a legit reputable and capable partner.

[Rossi46]

Somebody early was bringing up the matter of the tokens, is not clear indeed what is the role within the network. Can we assume is to access the services?

No one knows apparently since the whitepaper is all about technical aspects of their blockchain, an AMA session is very much needed I guess, isn't it?
[/They still didn't update the whitepaper? How are they planning to get any investors on board if potential investors don't have access to ICO details and other important information besides technical.
quote]