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

[kraterion]

is DUSK is planning to do code audit with 3rd party?  Can you provide updates on current status of ICO in progress to community?

He already said it a couple posts above, their code will be security audited. About Github repositories, in my opinion not everything must be opensource (even if it's crypto's spirit)

[Amelie Poulain]

100 eth are too much also for me, so for now the project is aimed only at large investors, i hope however to be able to buy some token at a later time when they will be listed on some exchange...

100 ETH at current exchange rate is around $20,000
i think, they will ask KYC for this investment, and yes, its huge amount for private sale minimum

They are clearly targeting whales and big institutional investors, for them 100 ETH should be no problem. It's a pity however that smaller investors can't invest.

The smaller investors will have their time after the private sale I am sure. There will probably a pre-sale with a comparable price.
[/quote]
Everything is relative, for large whales it's not a big amount - but I'm not sure that whales may be interested - now is not the best time to invest because of bear market.

[Trrrt]

It’s common to see project with a huge cap to invest during the pre sale, or it was common during the ico bull run. Dusk network have a minimum cap like most of project with a private sale. Regular investors will be able to buy after it if it is sucessfull I think.

[belechau]

Actually, dropping 100 ETHs today is something to think about, even with all the Team's potential and dedication to take the project forward, it is currently accessible to or close to large whales

[Rigorous]

is DUSK is planning to do code audit with 3rd party?  Can you provide updates on current status of ICO in progress to community?

He already said it a couple posts above, their code will be security audited. About Github repositories, in my opinion not everything must be opensource (even if it's crypto's spirit)

I do not necessarily agree or disagree with that statement, but could you tell why you think that way? Is hiding code in compiled form safe enough or just as flawed as security by obfuscation? Does closed source code give more value to a project because it cannot be copied as easily?

[Makkara]

Anybody can copy the code but not many people may have a deeper understanding to use and modifying it. The value is not really in the code itself but in who can write it and understand it.

That said i wish if any part will be kept secret is not going to be any core functionalities.

[beeelzebub]

Well, every good projects only do a private sale nowadays. I wanted to buy but 100 eth is someting i can't invest in single project.

Still, i can understand the reason behind this. I can always buy from exchanges.

[DuskNetwork]

Anybody can copy the code but not many people may have a deeper understanding to use and modifying it. The value is not really in the code itself but in who can write it and understand it.

That said i wish if any part will be kept secret is not going to be any core functionalities.

All the code will be released to GitHub at some point. As of now we're just working in a private repository until each section passes a security audit. We plan on having a community driven group, essentially, anybody who has the required skills is able to join and contribute to various different tasks. We also plan to release the Devnet this quarter so by then there will definitely be code released to Github for the public.

[DuskNetwork]

is DUSK is planning to do code audit with 3rd party?  Can you provide updates on current status of ICO in progress to community?

Yes, the code is going to be audited in modules by a 3rd party before being made public. We have a partnership with TNO signed, who are going to be doing research, formal verification of the cryptographic primitives and the code. Here's their website: https://www.tno.nl/en/
Aside from that, we also have a partnership with another European research organization that I cannot disclose yet.

The cryptography module and the wallet are going to be made public quite soon.

For investors in talks, we are able to provide a cryptographic module for inspection

[DuskNetwork]

Well, every good projects only do a private sale nowadays. I wanted to buy but 100 eth is someting i can't invest in single project.

Still, i can understand the reason behind this. I can always buy from exchanges.

We are looking for people who can add value to the project and want to make sure everyone that contributes is in for the longterm vision, just as we are. Hence we're only selling in private placement with such a high minimum

[king_of_alts]

Well, every good projects only do a private sale nowadays. I wanted to buy but 100 eth is someting i can't invest in single project.

Still, i can understand the reason behind this. I can always buy from exchanges.

We are looking for people who can add value to the project and want to make sure everyone that contributes is in for the longterm vision, just as we are. Hence we're only selling in private placement with such a high minimum

100  ETH shows some confidence in the project so it makes sense to look for people who seem to believe in the project. We can only hope that the big guys won't dump though.

[Ninjaboiii]

How much DUSK have raised so far? Is there any plan for exchange?

The exact amount raised is not known to me due to private agreements. There is definitely a plan for exchanges. I'll quote from our updated token sale article; "Conclude agreements with one of the world’s leading exchanges, who we will now be able to accommodate as a private sale contributor and partner as well as secure a free listing."

I have a pretty good hunch about that exchange, but would our speculating on what exchange it is, by narrowing down the the listing policies of the possible exchanges harm your contract with them?

Which exchange do you think they are partnering with? If they manage to sign a top tier exchange I definitely need to get myself an allocation.

[lvsca]

Well, every good projects only do a private sale nowadays. I wanted to buy but 100 eth is someting i can't invest in single project.

Still, i can understand the reason behind this. I can always buy from exchanges.

We are looking for people who can add value to the project and want to make sure everyone that contributes is in for the longterm vision, just as we are. Hence we're only selling in private placement with such a high minimum

100  ETH shows some confidence in the project so it makes sense to look for people who seem to believe in the project. We can only hope that the big guys won't dump though.

maybe, big guy will be trigger pump than he will sell some amount of their token first. if they trigger dump first, price will hard to be recovered

[DuskNetwork]

maybe, big guy will be trigger pump than he will sell some amount of their token first. if they trigger dump first, price will hard to be recovered

Have you read about our Second-by-Second vesting mechanism? Everyone is subject to a year-long vesting period. It will not be possible for people to sell all their tokens in the first year.

[pynetx]

maybe, big guy will be trigger pump than he will sell some amount of their token first. if they trigger dump first, price will hard to be recovered

Have you read about our Second-by-Second vesting mechanism? Everyone is subject to a year-long vesting period. It will not be possible for people to sell all their tokens in the first year.

This is a nice and necessary preventive measure you guys took otherwise things could have gone to the south.

[aveon]

maybe, big guy will be trigger pump than he will sell some amount of their token first. if they trigger dump first, price will hard to be recovered

Have you read about our Second-by-Second vesting mechanism? Everyone is subject to a year-long vesting period. It will not be possible for people to sell all their tokens in the first year.

This is a nice and necessary preventive measure you guys took otherwise things could have gone to the south.

It will probably make the exchange price fluctuations much less sharp and finally stabilize the coin exchange rate. Looking on the bright side, this coin will not be that dependent from the market as others.

[Frank37]

maybe, big guy will be trigger pump than he will sell some amount of their token first. if they trigger dump first, price will hard to be recovered

Have you read about our Second-by-Second vesting mechanism? Everyone is subject to a year-long vesting period. It will not be possible for people to sell all their tokens in the first year.

This is a nice and necessary preventive measure you guys took otherwise things could have gone to the south.

1 year is very long in crypto, nobody knows what happens till then.
Maybe BTC is at 50k and crypto is booming, this would change everythin, but nobody can predict what will happen in 2019.

[DuskNetwork]

1 year is very long in crypto, nobody knows what happens till then.
Maybe BTC is at 50k and crypto is booming, this would change everythin, but nobody can predict what will happen in 2019.

After the private is conducted we will deploy a smart contract which will vest allocations second by second. What this means in practice is that at any point a token investor wanted to release their tokens, they can make a call on the smart contract and then will have access to the total number of tokens that will have vested at that second.

As an example: after the lockup, tokens will be vested over 31,536,000 seconds (365 days x 24 hours x 60 minutes x 60 seconds). If they did it at exactly 6 months, they would receive half. If they did it at 1 day, then 10 days, then 57 days, and then every 3 weeks; they would receive the relevant whole tokens (rounded down) at each specific second.

[jonnytracker]

So this is also like LBRY project with decentralized sharing contents ? 

[loup]

maybe, big guy will be trigger pump than he will sell some amount of their token first. if they trigger dump first, price will hard to be recovered

Have you read about our Second-by-Second vesting mechanism? Everyone is subject to a year-long vesting period. It will not be possible for people to sell all their tokens in the first year.

This is a nice and necessary preventive measure you guys took otherwise things could have gone to the south.

1 year is very long in crypto, nobody knows what happens till then.
Maybe BTC is at 50k and crypto is booming, this would change everythin, but nobody can predict what will happen in 2019.

Yes, that's a risky decision because many investors want fast profit so they won't invest in a project with this kind of requirements.