Dusk network is privacy focused blockchain protocol which is entirely and specifically designed for DeFi applications known as decentralized finance applications. It has various exciting features which combine privacy and transparency required in financial ecosystems that offers a fine balance that makes it attractive and suitable for industries that need both privacy and total regulatory oversight over the transactions.

Some important features:

  • Dusk network is known as a Layer 1 blockchain that puts more emphasis on confidential transactions to maintain the privacy and security at its core. The most important feature is that it uses zero-knowledge proofs known as ZK SNARK to ensure that anyone who uses dusk is able to carry out transactions with full privacy while still maintaining the compliance and regulations needed.
  • Its Regulated DeFi functionality: The dusk platform is fully optimized to carry decentralized finance while focusing on regulated financial services with total security that includes tokenization of securities and issuance of properly compliant security tokens known as STO and it also provides automated settlements while properly maintaining the confidentiality and secrecy needed. 

Why Dusk network was created 

  • To Maintain Privacy in Financial Transactions – The core need for creating a network like dusk was to solve the issue of user privacy by enabling privacy focused transactions cause the other traditional blockchains like Ethereum and Bitcoin also offered transparency but the user gets that privacy at the cost of its privacy. So dusk was created to conduct financial transactions where the most sensitive private and financial data is not visible and shielded by the public view.
  • To Comply with Regulations better – The creators of Dusk Network identified the growing need of a blockchain solution that properly meets the legal and regulatory frameworks very early hence they came with a network like dusk to enable regulated transactions while maintaining privacy. Dusk also allows Institutions and businesses to comply with KYC (Know your customer) and a very important one called AML(Anti Money laundering Regulations by the Govt. 
  • Issuance of Security Tokens – In the digital representations of real world assets like bonds, property or stocks the dusk news network facilitates the creation of these tokens in a manner which is properly compliant and makes it easier for companies to adopt blockchain technologies for their financial products and transactions. 
  • The need of Efficiency and Scalability – While being one of the pioneers in Crypto news, dusk is a network which also focuses on efficiency and speed through its uses of advanced cryptographic techniques like zk SNARK rollups it enables users for high scalability, faster transaction times and low cost per transaction which is a very high demand essential for the world of financial applications and transactions.

In the end I would like to conclude that the dusk crypto news was created to fill the gap of privacy and regulatory compliance in blockchain specially in the financial sector with a goal to provide a blockchain platform which support privacy, security and also maintain the compliances by enabling the growth of decentralized financial system in a regulated and controlled manner.