Hello friends!
Today I want to talk about something very cool in crypto world. It is Dusk Network. This is a special blockchain made for finance things but with full privacy.
I read about it on official website dusk.network and some white paper stuff. My English not very good but I try to explain in easy words so everyone can understand. I am excited about this project!First, what is Dusk? Dusk is like a home for money things on blockchain but secret. Normal blockchains like Bitcoin or Ethereum, everyone can see how much money you send and to who. But in real life, when big companies or banks do finance, they don't want everyone to see their secret deals. They need privacy. Dusk solve this problem. It is made for regulated finance, means it follow rules of government but still keep things private. This is why many big institutions like it.Now the main hero of this story is Phoenix. Phoenix is the special way Dusk do transactions. It is called Phoenix transaction model. Phoenix use zero-knowledge proofs. What is that? It is magic math that prove something is true without showing the details. Like you prove you have enough money to pay, but no one see how much you really have or from where it come. This make transactions confidential.In Phoenix, they use something called UTXO. UTXO means unspent transaction output, like old coins that not used yet. In Dusk, these are called notes. Phoenix hide these notes in a big tree called Merkle tree. When you spend, no one can link old note to new note. So no one can trace your money. This is better than many other privacy coins. Even if you get some public money like reward or change, Phoenix still keep it secret when you spend. This is industry first thing!There is also Phoenix 2.0 now. It is updated version. In this, receiver can know who send the money if needed, but still keep amount and other details private. This is very important for rules like AML (anti money laundering). Banks and companies need to follow these rules. Phoenix 2.0 allow privacy but also compliance. It is like best of both world. You get private finance but still safe for big players.Why this make Dusk the home of confidential blockchain finance?
Because other blockchains have privacy but not good for real finance. Many privacy coins have problem with government, they say it help bad people. But Dusk is different. It is built for institutions. It has dual model: Phoenix for private, and Moonlight for public transactions. You choose what you want. This way, you can do transparent things when need to show, and private when need to hide.For example, in regulated finance, you can issue securities like stocks or bonds on Dusk. They are tokenized, means on blockchain. With Phoenix, the amounts and owners stay confidential. But if regulator ask, you can prove it follow rules. Dusk work with real companies like NPEX, a Dutch stock exchange. They bring real assets on chain with privacy. This is big step for future of finance.Also, Dusk have smart contracts that are confidential. Normal smart contracts everyone see code and data. But in Dusk, with Phoenix and Zedger (another thing), smart contracts can be private. This good for business deals, loans, trading where you don't want competitor to see strategy.I check official website dusk.network. They say their mission is unlock economic inclusion. Means bring institution level assets to anyone's wallet. Not only rich people or big banks, but normal people too can use private finance. This is powerful. With $DUSK token, you can pay fees, stake to secure network, and get rewards.Staking in Dusk also use Phoenix. You can stake privately. Rewards come but stay confidential. APY around 12% I read somewhere. Very nice!Many people talk about Dusk on Binance Square. Some say it quietly solving hard problem in on-chain finance. Privacy that is native, not added later. This make it strong and safe.I think Dusk with Phoenix is future. In world where everyone watch your money on chain, Dusk give you choice. Privacy when you want, open when you need. This is why it is home of confidential blockchain finance.If you like privacy and real finance on blockchain, check Dusk. Go to dusk.network to learn more. Read their docs and white paper. It is very interesting!What you think? Is privacy important in crypto? Tell me in comments!@Dusk