A monthly development update series created to embrace the transparency and inclusivity that we strive for at Dusk Network
Dusk Network is developing the privacy blockchain for financial applications. A blockchain-based ecosystem of programmable digital assets that meet industry compliance standards. Companies use Dusk Network to secure capital, trade assets, and access a full spectrum of financial services.
Our team’s recent implementation of upgraded circuits into the network included the Schnorr proof verification gadget. Named after its creator, Claus Schnorr, the Schnorr algorithm is a digital scheme providing a simple method of creating short signatures. The implementation was created using the Poseidon hash function (the paper for which can be found here) and enables development of computationally lightweight wallets (called Light Wallets) for web browsers and mobile phones.
Here’s how: Schnorr proofs enable the wallet on a user’s device to generate a computationally lightweight proof of knowledge of the wallet’s secret key (i.e. the Schnorr proof). This proof is then propagated to the wallet provider’s server, which is responsible for the computation & verification of the zero-knowledge proof, without revealing the secret key.
Our unique consensus algorithm, the Segregated Byzantine Agreement, has seen continuous updates over the past months. In October, we upgraded the synchronization procedure for SBA. By doing so, we allow nodes joining or rejoining the consensus to catch-up with the latest state of the consensus in a more efficient and secure manner.
In the previous version of the synchronization procedure, it would take nodes attempting to catch-up numerous rounds to achieve synchrony with the latest state. This was due to the possibility of the node being in a different phase of the same round as the rest of the network.
In the latest version, the node is notified of the finalization of the block along with other consensus participants, meaning that the node aiming to catch-up will be in the same phase as the rest of the network.
We’ve recently released one of the most important blueprints of our project’s longevity: the Dusk Network Economic Model Paper and the accompanying Insights & Highlights paper detail the key properties of the incentivization scheme utilized in the Dusk Network consensus protocol. In essence, it shows how our tokenomics are set to work on Mainnet.
On top of that, we have also been busy expanding on the GitBook documentation while maintaining developer-friendliness of the specification. Our GitBook documentation will house the reference specification of the Dusk Network protocol and the accompanying standards, along with much more.
This month has seen the release of two important reports for Dusk Network.
The Biannual Report 2020 is the result of our stance on transparency. In this 25-page report, we share a comprehensive overview of both our technical and business progress, while also touching upon our financial position, collaborations, staking statistics, and vision for the financial ecosystem of the future. The report functions as both an invaluable resource to get up to speed and as an overall assessment of dusk Network.
The Economic Model Paper presents the token economics of the Dusk Network. It includes the distribution key of funds awarded to network participants for securing the network, the emission schedule for total block rewards, expected block times, as well as Mainnet staking requirements and expected annualized returns. The supplementary document Insights & Highlights provides additional context to understand the dynamics of the Dusk Network tokenomics.
We strongly believe that privacy and compliance will be of vital importance for blockchains to play a center role in the financial ecosystem of the future. This is why we continue to put out valuable technology demonstrations and explanations through video content and articles. Our latest addition covers Confidential Security Tokens, and how we are solving the puzzle of transaction privacy and regulatory compliance on a public blockchain.
- How-it-works: Confidential Security Tokens (XSC)
- Introduction to Smart Contracts: Ensuring Code Integrity
- How-it-works: Provisioner Staking
- The Dusk Network Ecosystem: Constructing The Financial Infrastructure of the Future
- The Dawn of Decentralized Finance: Decentralizing Exchanges
- Block Generation 101: Assuring Staker Anonymity
- The Dawn of Decentralized Finance: An Introduction
About Dusk Network
Dusk Network is an open-source and privacy-oriented blockchain based on years of academic research. You can use Dusk Network to create smart contracts that control digital assets and securities.