Dusk Updated Whitepaper
We are pleased to share our updated Dusk whitepaper, which outlines our current tech stack. The previous whitepaper was published in March 2021, and since then we have seen major events, both internal and external that have further refined our direction and goals.
Since the previous whitepaper, we have seen regulatory updates like MiCA being finalized and implemented and the DLT Pilot Regime being open and accepting applicants. We have also seen wider industry evolution like the “RWA” narrative and increased institutional interest. We have also seen our own internal developments with our deepening relationship with NPEX and the creation of a public transaction layer to the Dusk network, Moonlight.
The updated whitepaper reflects Dusk’s refinement of vision, given the internal and external developments that have taken place over the last few years.
Read the whitepaper here.
Some highlights and key updates
Opening abstract
Right from the get-go, you can see the clarity in Dusk’s vision and purpose, moving from an abstract that is focused on the inner workings of the tech to one that boldly lays out the goal of bridging “the gap between decentralized platforms and traditional finance markets by providing a privacy-focused, compliance-ready blockchain…Dusk provides a robust, privacy-centric blockchain solution that meets both the performance and regulatory demands of the financial sector”.
The goal is clear. Bridge the gap between blockchain and traditional finance.
Transactions: Moonlight and Phoenix
A huge addition to the Dusk tech stack is Moonlight, allowing for public transactions and seamlessly integrating with Phoenix - our privacy-friendly transaction model - allowing users, exchanges, and institutions to transact both publicly and privately. This gives Dusk two transaction models, and essentially provides the best of both worlds.
We also added the capability of identifying the sender of a Phoenix transaction to the receiver, turning Phoenix from an anonymity protocol into a privacy-preserving protocol that is compliant with current EU regulations.
The addition of Moonlight was prompted by a realization that integration with exchanges and other entities would be simplified by providing a public transaction model, alongside the updated privacy-preserving account model. This approach keeps us compliant and removes any risk of being delisted, and we created an elegant solution that allows both private and public transacting and allows users to switch back and forth at the click of a button.
Environmental impact
A new addition to the whitepaper focuses on Dusk’s environmental impact and commitment to sustainability. With sustainability being an important goal for organizations like the EU, it is important for Dusk to highlight our efficiency.
Dusk achieves eco-friendliness through the efficiency of our consensus, network optimizations - including Kadcast which achieves 25-50% reduction in bandwidth uses compared to popular Gossip protocols, and finally through our cryptography, and integrating functions into the virtual machine.
We are proud that our network manages to be fast and powerful without overconsuming resources. The benefits of reduced environmental impact are also good for those who participate in the network as node runners as the requirements on them are significantly lower than networks that are resource-intensive (like Bitcoin mining farms).
Conclusion
We are pleased to share this refreshed and updated whitepaper that more accurately reflects Dusk’s purpose, tech stack, and direction. Thanks to changes in the wider space, increased regulatory clarity, and our own development and growth in the industry, we are better placed than ever to have a real impact on the financial landscape and drive the mainstream adoption of blockchain technology.
Find the updated whitepaper here.
