Dusk Network Tackles Financial Privacy Concerns With DayBreak Testnet
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Amsterdam, The Netherlands, 22nd March, 2022, Chainwire
The privacy-preserving layer-1 blockchain enables businesses and consumers to reap the benefits of a public network for an array of financial applications compliant with legal requirements
Dusk Network, the Amsterdam based FinTech company, successfully launched its testnet called ´DayBreak´ today. With the launch of DayBreak, the public can interact with the network for the first time.
Dusk Network is a layer-1 blockchain protocol capable of powering privacy-preserving smart contracts that satisfy business compliance criteria. The network is secured by a novel and fast Proof-of-Stake (PoS) consensus with settlement finality guarantees, an important requirement for financial use cases. This opens up new opportunities for communities and organizations who are looking to embrace blockchain for their business and use it to address the inefficiencies of traditional finance.
Traditional financial institutions, such as banks or brokers, are keeping a watchful eye on the rapid developments in the blockchain industry. Blockchain has the potential to disrupt the status quo, but only if it can comply with the financial market directives and legislation.
Carving its own path, Dusk Network was designed and built from the ground up to satisfy the requirements of a regulatory compliant distributed ledger. The team pushed the boundaries of the current technology by researching and delivering novel techniques and algorithms in the realm of peer-to-peer networking, distributed computation, and zero-knowledge cryptography. By tailoring its network specifically to the requirements of the financial
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