dusk

Când mă uit la Dusk acum, ceea ce se remarcă nu este acțiunea prețului sau zgomotul social. Este că proiectul începe să arate complet din punct de vedere structural într-un mod în care multe Layer 1-uri nu ajung niciodată.
a fost constant în ceea ce privește concentrarea sa de ani de zile: finanțe reglementate pe lanț, contracte inteligente confidențiale și active din lumea reală. În 2026, această concentrare se aliniază în sfârșit cu direcția în care se îndreaptă instituțiile.
Din perspectiva datelor, $DUSK încă se află în domeniul capitalizării mici, cu o ofertă circulantă de puțin sub jumătate din totalul său. Acest lucru contează deoarece rețeaua nu este încă complet diluată și emiterea este încă strâns legată de participarea la rețea. Volumele zilnice de tranzacționare au rămas active chiar și în perioade mai liniștite de pe piață, ceea ce sugerează că DUSK nu este ignorat sau abandonat de piață.

În trecut, dacă V God ar fi îndrăznit să vândă așa, întreaga lume a criptomonedelor ar fi explodat!
„Plângerea că „ETH trebuie să se termine” și „consensul s-a prăbușit” poate fi văzută pe Twitter și pe WeChat, speriind astfel micii investitori să vândă noaptea.
Dar de data aceasta, văzând cum V God își reduce cu precizie deținerile, prima mea reacție nu a fost frica, ci m-am gândit la un lucru: o astfel de realizare de milioane de dolari, dacă nu este susținută de o infrastructură de conformitate solidă, doar explicând autorităților de unde vin banii și unde se duc, te poate face să îți pierzi părul, darămite să reușești să îți asiguri rapid banii.
Aceasta este exact valoarea proiectului Dusk! Pe scurt, $DUSK este ca și cum ai pune un „poartă de securitate rapidă cu certificare oficială” pe activele mari de pe blockchain.

Blockchain is always evolving, and this is particularly true when it comes to finding a balance between privacy and the need for regulation and auditing. The traditional blockchains, such as Bitcoin or Ethereum, are all about transparency. You can see the transaction values, the wallet balances, the whole shebang. This is fantastic if you want to be transparent, but not so great if you want to maintain privacy, such as in business or supply chain management.
This is where Haults a protocol developed by $DUSK Network, comes in. It stands for Homomorphic Encryption-based Vaults, and it is a new protocol that has emerged from some new research. The interesting thing about Haults is that it combines homomorphic encryption, zero-knowledge proofs, and smart contracts. When you combine all of these things, you have a system that allows you to maintain the privacy of your balances, even on blockchains that use virtual machines, such as those that are compatible with Ethereum.
Haults provide a very intelligent wallet solution that strikes a balance between privacy and permissioning. They are not like completely anonymous platforms like Zcash or Monero. With Haults, you always know who is participating in a transaction, but you cannot see their balances or what they are sending. This is a good combination if you want to identify users, perhaps for legal purposes, but keep the actual money information private.
Haults revolve around these things called "notes." They’re specialized data structures that contain value, all encrypted. Each note has two encrypted components.
One of them is encrypted with MapRecoverable encryption. Essentially, if you have the right private key, you can decrypt this and read the underlying value.
The other one is encrypted with a homomorphic encryption scheme, MapHomomorphic, which is based on ElGamal encryption over elliptic curves. This one is particularly slick: you can sum up the encrypted balances of multiple notes without decrypting them. That way, you can add up all the values without learning what’s in each note.

Each user has their own Hault keypairs—this is like a set of special keys developed by $DUSK Network specifically for the Hault protocol, and they are completely separate from their blockchain addresses. These keys take care of all the encryption and decryption. There is also an auditor involved in this process, who holds a public key that provides an additional layer of encryption to every transaction. This way, in case there is a need to check compliance or investigate any transactions or even trace lost funds, the auditor can decrypt the amounts. However, this information is not accessible to the common user or the rest of the network, so privacy is maintained.

The core of Haults is based on the transfer protocol. When a user wants to send value w to another user, the following takes place:
First, the sender gathers their notes and calculates their old balance in both plain number form (after decryption) and its encrypted form. They then subtract w from the balance to obtain their new encrypted balance. Next, they make new notes for the recipient, locked under the recipient’s public key, as well as a set for the auditor. To connect all the dots, they construct a zero-knowledge proof that verifies all the steps are valid, including the fact that nothing new is created or destroyed, the old notes are destroyed, and all the encryption is sound, without revealing w or the balances.

The “Hault” smart contract verifies the proof and the public inputs—such as ensuring that the old encrypted sums actually match what’s been stored. It then removes any notes that have already been used and adds new ones to both the sender’s and the recipient’s accounts. This ensures that everything is safe on the blockchain, and at the same time, it doesn’t expose anyone’s private information.
There are a couple of special cases. For minting, the contract owner—basically the issuer—emits new notes through transparent encryption. This means that they set the randomness to zero, so the amount is exposed to everyone. This way, people can check the total supply, but regular notes still hide the amounts. Then you have the force transfers. If someone loses their keys, the auditor can chime in. With their own keys, they prove and complete the transfer, which allows people to get their money back without jeopardizing the entire system.
Haults’ design keeps things simple by using only one transfer circuit for almost all operations. This reduces complexity immensely. The zero knowledge circuit is responsible for a few important tasks: it verifies points on the elliptic curve, ensures that all values remain within bounds so you don’t end up with overflows or funky negative values, keeps homomorphic subtraction and encryption under control, and double-checks that recoverable and homomorphic mappings actually correspond.
This design is based on the basics of elliptic curve cryptography, in which the public key is a point on the curve (pk = sk · G).
But what does this all mean in practice? Haults can support enterprise blockchains, DeFi platforms that operate within the law, or networks where real-world assets are tokenized – areas where you need privacy, but you can’t afford to forget accountability. They avoid the problems that come with completely private blockchains, such as not scaling well or regulators pushing back, but they still maintain a whole lot more privacy than transparent blockchains.
With more and more regulated sectors turning to blockchain, solutions like Haults show the way forward: privacy is baked in from the start, there’s the ability to audit if necessary, and anyone can check what’s happening if they have to. It safeguards user data and helps people actually trust these digital finance systems, even as they come under the microscope. And with zero-knowledge proofs and homomorphic encryption continually improving, you can bet that Dusk Network's Haults-like systems will take privacy-enhanced smart contracts to the next level.
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