The updated whitepaper includes the latest advancements and specifications of Dusk Network: a privacy-preserving blockchain for smart contracts, financial applications, and regulated decentralised finance.
The Dusk Network mission started in 2018, with the common goal to invent a privacy blockchain for financial applications. And on our journey we’ve embraced the latest zero-knowledge technologies, added significantly to R&D efforts all around the globe, and included the latest and best technologies in our stack. Upon its public release, Dusk Network is set to become one of the most advanced blockchains in the world.
The release of this whitepaper is an important stepping stone for Dusk Network as we move closer towards the upcoming E2E Release Candidate (save-the-date: April 9th, 2021).
Getting back to the why: we created Dusk Network to satisfy the requirements of financial service applications and, by extension, the financial industry. Therefore, our updated whitepaper outlines some of the most influential features included and summarizes how Dusk Network is capable of powering privacy-preserving smart contracts.
Smart contracts, coupled with the ability to satisfy confidentiality and settlement requirements, opens the possibility to create a constellation of new financial, and Regulated Decentralised Finance (RegDeFi), applications. The introduction of these two token standards helps us to achieve this:
A) Confidential Security Contract Standard (XSC)
A complete on-chain solution for the compliant issuance and trading of security tokens. The XSC allows for easy token creation, issuance, and transfers, and is a gateway for enterprise solutions built on blockchain.
B) Confidential Token Standard
The Confidential Token Standard enables privacy-preserving sidechain functionality, via a privacy-preserving token wrapper.
Some of our contributions to the blockchain industry
- We invented the Segregated Byzantine Agreement (SBA) consensus mechanism. SBA formalizes a novel privacy-preserving leader extraction procedure called Proof-of-Blind Bid (PoBB). PoBB makes private-Proof-of-Stake and transaction finality possible.
- We invented a UTxO-based privacy-preserving transaction model called Phoenix, which enables transactional privacy for transfer of DUSK and other tokens issued on the Dusk Network.
- We invented a hybrid privacy-preserving transaction model called Zedger, which couples privacy with auditability and compliance parameters for compliant security token issuance and trading.
- We created a WASM-based Virtual Machine called Rusk VM that interfaces with a variety of host functions such as cryptographic functionality, and storage logic.
- We implemented a Rust-based version of the PLONK zero-knowledge proof system.
Without further ado, dive straight into our updated Whitepaper V3:
Dusk Ecosystem Roadmap
The Whitepaper V3 details all the inventions and novel implementations we've made as we move towards the successful launch of the world’s first privacy blockchain for RegDeFi applications. For more items please visit the Dusk Ecosystem Roadmap.