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

[niklasmato]

Just heard about SharkPool - "will be using hash power to kill all Altcoins" , will this affect DUSK Network significantly?

SharkPool will not have any effect on Dusk Network for a following reasons;
 
-Dusk Network does not utilize PoW

-The rewards paid to Provisioners are inversely proportional to their staked amount (i.e. bigger stakes get proportionally rewarded lesser, in respect to smaller stakes) and are earned regardless of Provisioners' participation in the VVN operations. This measure is not a viable option outside of the Dusk Blockchain, where the probability to win the sortition lottery and therefore take an active part to the SBA⋆ algorithm is not associated with a reward, except the sole payment of the transaction fees.

Then it makes sense for a large wallet to split a large amount into many small wallets? Or is the number of Provisioners limited? Although about this I no information not saw.

SBA⋆ foresees a few different types of actors in the network to reach consensus:

• Network nodes - transactional network clients. They compete with each other by locking an arbitrary amount for the generating and proposing of new blocks. Block generation is a computationally light task and therefore running a node does not require neither specialised equipment nor storage. The intention is for normal mobile devices to be able to run as a node within the network. The non-deterministic nature of the bidding process makes it so that even nodes bidding the minimum amount of DUSK have a fair chance to win the block generation sortition lottery
• Provisioners - These are nodes that have committed a certain minimum stake to the Dusk Network and take care of more network intensive tasks such as block verification, voting, and notarization (VVN operations). These types of nodes are non-transactional

The intention is to create an economy where nodes compete for block rewards, while Provisioners earn a steady ROI.

Ok well thanks for the update, will keep an eye out for more information regarding the Dusk network .
Forgive me for asking but is there already a MVP out fo the network?

[Amelie Poulain]

Looks like Dusk is getting more excepted since they announced some of their private investors. Great too see people believe in privacy and security on the internet in this age where everyone is vulnerable.

Crypto's main advantage is Privacy but these days because of the regulations and government bans, projects have started asking KYC etc. Its always good to have private investors as they can be trustable and we can openly keep an eye on funds.

big investors can really carry a project but there should be a balance so that they don't control it.

You are right, whales can manipulate the price of a token, I hope this will not happen and I think this project will bring profit in the long term.

[Frank37]

Looks like Dusk is getting more excepted since they announced some of their private investors. Great too see people believe in privacy and security on the internet in this age where everyone is vulnerable.

Crypto's main advantage is Privacy but these days because of the regulations and government bans, projects have started asking KYC etc. Its always good to have private investors as they can be trustable and we can openly keep an eye on funds.

big investors can really carry a project but there should be a balance so that they don't control it.

You are right, whales can manipulate the price of a token, I hope this will not happen and I think this project will bring profit in the long term.

It has always been the case that big investors can manipulate the price.
The best solution to avoid this is to make a good product, then the small investors will buy again immediately the dumped token.
I see no other possibility.

[PS92]

If i understand correctly you will be working as PoS. You will have masternodes or supernodes? And how many coins needed for run masternode?

I don't think that's how it works with Dusk

[Rigorous]

since it's a standard ERC20 token, you can bet it will be listed on forkdelta and all decentralized exchanges.

Which probably means there will be another KYC for the swap to the DUSK blockchain, right? So the current Blockpass KYC is just valid for the ERC20 tokens bought through Ethfinex or straight from the DUSK team.

[Token Williams]

https://cryptobenelux.com/2018/10/21/dusk-network-ico-review/

Dutch article about Dusk

[turkandjaydee]

since it's a standard ERC20 token, you can bet it will be listed on forkdelta and all decentralized exchanges.

Which probably means there will be another KYC for the swap to the DUSK blockchain, right? So the current Blockpass KYC is just valid for the ERC20 tokens bought through Ethfinex or straight from the DUSK team.

So thats mean if someone sells their tokens on another decentralized exchange, then people who buys it wont be able to swap the tokens? Why? I dont understand about KYC law.

[pynetx]

As far as I know, ERC20 token was for Ethfinex only. Is there any announcement about distributing it to other exchanges also?

I am not sure about how Dusk Network will do it but most projects have their blockchain, first distribute erc20 tokens and then swap them.

Easier solution for both party.

Yeah, a lot of projects do that but in the recent posts, someone from the team mentioned that they don't wanna follow that road because they want to directly launch on their own main net rather doing the swap later.

[niklasmato]

https://cryptobenelux.com/2018/10/21/dusk-network-ico-review/

Dutch article about Dusk

Anyone have an idea what the legal framework is in the netherlands regarding security tokens?
Are they regulated by the government?

[jonnytracker]

https://cryptobenelux.com/2018/10/21/dusk-network-ico-review/

Dutch article about Dusk

Anyone have an idea what the legal framework is in the netherlands regarding security tokens?
Are they regulated by the government?

When you say security token , it seems like there is a different regulation for it. If not perhaps it's still bind by a security company law

[Makkara]

https://cryptobenelux.com/2018/10/21/dusk-network-ico-review/

Dutch article about Dusk

Anyone have an idea what the legal framework is in the netherlands regarding security tokens?
Are they regulated by the government?

You can find some general information about regulations in here https://www.loc.gov/law/help/cryptocurrency/world-survey.php

The problem is wider than a single country in here as dusk will be working not only in Netherlands.

[Altcoinrusher]

https://cryptobenelux.com/2018/10/21/dusk-network-ico-review/

Dutch article about Dusk

Anyone have an idea what the legal framework is in the netherlands regarding security tokens?
Are they regulated by the government?

You can find some general information about regulations in here https://www.loc.gov/law/help/cryptocurrency/world-survey.php

The problem is wider than a single country in here as dusk will be working not only in Netherlands.

Indeed. Most blockchain companies are now considering or have chosen already to crypto friendly states such as Malta where their Government encourages the technology to flourish.

[viljy]

Just heard about SharkPool - "will be using hash power to kill all Altcoins" , will this affect DUSK Network significantly?

SharkPool will not have any effect on Dusk Network for a following reasons;
 
-Dusk Network does not utilize PoW

-The rewards paid to Provisioners are inversely proportional to their staked amount (i.e. bigger stakes get proportionally rewarded lesser, in respect to smaller stakes) and are earned regardless of Provisioners' participation in the VVN operations. This measure is not a viable option outside of the Dusk Blockchain, where the probability to win the sortition lottery and therefore take an active part to the SBA⋆ algorithm is not associated with a reward, except the sole payment of the transaction fees.

Still I have such question if remunerations are paid inversely proportional to the sum of coins in a wallet, so there is an optimum sum of coins in a wallet for receiving the most favorable remuneration? Also, I do not understand what then the meaning of a private sale with a high minimum purchase amount and at the same time reducing the reward with the amount of coins in the wallet? That is, on the one hand private sale attracts only whales, on the other hand whales will receive the minimum reward? And decentralization is not 100 or 1000 whales, but a million small holders. Thus, I am right that large amounts need to be divided into many small wallets, and therefore there should be an amount in the wallet for the optimal amount of reward. How many coins does that have to be?

[levyashin]

since it's a standard ERC20 token, you can bet it will be listed on forkdelta and all decentralized exchanges.

Which probably means there will be another KYC for the swap to the DUSK blockchain, right? So the current Blockpass KYC is just valid for the ERC20 tokens bought through Ethfinex or straight from the DUSK team.

Well, good point. 2 kyc would be meaningless. But maybe they can gather kyc information from ethfinex and won't ask a second one.

Also they have a vesting period for all tokens so i don't think they will unlock this erc tokens.

[DuskNetwork]

As far as I know, ERC20 token was for Ethfinex only. Is there any announcement about distributing it to other exchanges also?

I am not sure about how Dusk Network will do it but most projects have their blockchain, first distribute erc20 tokens and then swap them.

Easier solution for both party.

Yeah, a lot of projects do that but in the recent posts, someone from the team mentioned that they don't wanna follow that road because they want to directly launch on their own main net rather doing the swap later.

Dusk will start of as an ERC20 token and we'll swap to our native DUSK token in Q2 2019, that's when we launch our mainnet.

[lvsca]

since it's a standard ERC20 token, you can bet it will be listed on forkdelta and all decentralized exchanges.

Which probably means there will be another KYC for the swap to the DUSK blockchain, right? So the current Blockpass KYC is just valid for the ERC20 tokens bought through Ethfinex or straight from the DUSK team.

Well, good point. 2 kyc would be meaningless. But maybe they can gather kyc information from ethfinex and won't ask a second one.

Also they have a vesting period for all tokens so i don't think they will unlock this erc tokens.

since the swap is start, erc20 will be removed from exchange and change with new one from dusk blockchain

[batako]

As far as I know, ERC20 token was for Ethfinex only. Is there any announcement about distributing it to other exchanges also?

I am not sure about how Dusk Network will do it but most projects have their blockchain, first distribute erc20 tokens and then swap them.

Easier solution for both party.

Yeah, a lot of projects do that but in the recent posts, someone from the team mentioned that they don't wanna follow that road because they want to directly launch on their own main net rather doing the swap later.

Dusk will start of as an ERC20 token and we'll swap to our native DUSK token in Q2 2019, that's when we launch our mainnet.

This is the valuable information so people know that there will be swap in Q2 2019 and I wish there will no limited time to do such swap if the process isn't automatic.

[bitcoin-shark]

since it's a standard ERC20 token, you can bet it will be listed on forkdelta and all decentralized exchanges.

Which probably means there will be another KYC for the swap to the DUSK blockchain, right? So the current Blockpass KYC is just valid for the ERC20 tokens bought through Ethfinex or straight from the DUSK team.

there will be a further kyc before the token swap on dusk blockchain is not good news, however, is good news that at least in the initial phase when the tokens will be erc20 will can be changed on decentralized exchanges(dex)...

[o48o]

I am kinda amazed that the mainnet would be live on q2 2019 already if the roadmap will hold, since i thought that this was more or less just on the concept stage and not coded yet.

[cevap]

I am kinda amazed that the mainnet would be live on q2 2019 already if the roadmap will hold, since i thought that this was more or less just on the concept stage and not coded yet.

I hope they started development already because it will be hard to deliver something from scratch that fast but since this project got well accepted, i am sure they are confident that they will deliver as planed.