Dusk Network (DUSK)

Privacy and Compliance

Dusk Network uses advanced cryptography and zero-knowledge proofs to keep transactions and data private and secure. This allows users to prove their identity without revealing personal information, making it useful for digital identity and regulatory compliance.

Financial Services and Tokenization

It enables enterprises to issue, trade, and manage tokenized securities and real-world assets on a private and permissionless blockchain. This helps automate costly processes in finance, such as security token offerings (STOs), trading compliance, and asset tokenization.

Smart Contracts and dApps

Dusk Network supports confidential smart contracts and zero-knowledge dApps, allowing developers to build privacy-preserving applications for various financial use cases.

Network Utility

The DUSK token is used to pay for network services like deploying smart contracts, transferring tokens, staking for consensus, and participating in governance within the ecosystem.

Pros

• Privacy and Security: Dusk Network uses zero-knowledge cryptography and native confidential smart contracts to keep transactions private while ensuring compliance.
• Regulatory Compliance: It supports KYC/AML checks and trade restrictions on token levels, making it suitable for regulated financial markets.
• Cost Efficiency: As a layer 0 protocol, it offers an open security token standard without the high fees charged by middlemen platforms.
• Fast Transactions: The Succinct Attestation consensus mechanism enables instant transaction settlement within about 15 seconds.
• Scalability: Designed with a scalable infrastructure to handle enterprise-grade financial applications.
• Decentralization Incentives: The consensus mechanism encourages participation and decentralization through block rewards.
• Business Focus: Tailored for financial markets, allowing tokenization and automation of financial instruments and processes.
• Open and Public: Users can join without needing approval from a trusted authority, requiring only modest IT resources.

Cons

• Complexity: The technology, including zero-knowledge proofs and custom consensus, may be complex for new users to understand.
• Early Stage: Some features like Bulletproofs and full smart contract programmability are still developing.
• Market Awareness: The project has flown under the radar until recently, which might affect adoption speed.
• Competition: Competes with other privacy and smart contract platforms, which may have more established ecosystems.
• Limited Information on User Experience: There is little public data on ease of use or developer support compared to larger blockchains.

Founders of Dusk Network

The founders of Dusk Network are Emanuele Francioni, Fulvio Venturelli, Jelle Pol, Pascal Putman, and Mels Dees. Emanuele Francioni serves as the Founder and CEO and is also the tech lead of the project. Fulvio Venturelli is a co-founder and lead researcher. Jelle Pol is a co-founder and business director. Pascal Putman and Mels Dees are also co-founders involved in the business side of the project. They started the Dusk Foundation in 2018, which led to the creation of Dusk Network.

Investors in Dusk Network

Dusk Network has raised a total of $1 million in funding over multiple rounds. The main investors include:

• COSIMO X: A strategic partner and lead investor in the latest funding round. COSIMO X is known as the world’s first tokenized fund and supports privacy-focused blockchain projects.
• Karnika Yashwant: One of the recent investors involved in funding rounds.
• Blockwall Management and RR2 Capital: Other notable investors who participated in earlier rounds.
• Bitfinex (iFinex Inc.): The digital asset exchange Bitfinex, owned by iFinex Inc., invested over €835K, bringing experience and a large user base to support Dusk Network’s growth.

In total, Dusk Network has about 5 to 6 investors who have contributed to its development and funding.

Halal Status

Yes, Dusk Network is considered halal because it operates on a proof-of-stake consensus mechanism that does not involve interest (riba). Its transaction fees and network operations are based on service provision rather than lending or interest-bearing activities.