What Is Dusk Network?
Dusk Network is a coin on the eponymous privacy blockchain. It focuses on the financial industry, more specifically the Security Token market, and uses zero-knowledge cryptography. It issues digital securities and caters to the needs of STO spaces by the consensus mechanism called Segregated Byzantine Agreement. Dusk Network as a platform removes the expensive third parties used in traditional markets while still providing confidentiality and regulatory approval. The project managed to find a balance between compliance to law and decentralization, giving the privacy of blockchain to its users while still staying within the legal framework.
Dusk token is used for staking and consensus, and its main use-cases also include gas and rewards. It is a utility token used to initiate transactions and atomic swaps on the platform. In the future, the team intends to implement Dusk token for on-chain governance within XSC, to pay network fees, and to deploy dApps.
Pros and Cons of Dusk Network
Advantages of Dusk Network
Having a closer look at Dusk Network and its current place within the top-400 cryptocurrencies overall, it is quite evident that the team thoroughly researched the market and thought of some not so evident aspects of developing such an ambitious project. While the whole technology is difficult to comprehend, the complex terms are explained in simple words. The white paper is thorough and the implementations from the roadmap happened on time. If they keep up the pace, Dusk Network has all the chances to succeed.
Disadvantages of Dusk Network
One concerning aspect that Dusk Network has is its position on the exchanges and that its trade depends almost solely on Binance and can crash instantly in case it ever gets delisted. The ICO of the project was also not as successful as expected, gathering less money than intended. Since Dusk Network token operates in the B2B sector and the target audience is mainly businesses, it might not be for an ordinary user or investor to consider. There are also still powerful competitors like Monero who currently hold a strong position on the market.