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DISCLAIMER: This is not financial advice! None of the members of ICOPools.io are licensed financial advisors, hence you are urged to do your own due diligence and take your own decisions. (read more)

Dusk Network

Dusk Network

Active Pools Min cap Bonus Commission Raised Rating Language Access Created

Активный Пул

Min cap

-

Bonus

-

Commission

0.5%

Raised

No data

236

Rating

-

Language

EN

Access

Created

10.07.18

Last ICO deals

Min cap

0.15 ETH

Bonus

-

Commission

2.5%

Raised

357 / 1000 ETH

Active

02.10.2018

Finished successfully

07.10.2018

Min cap

-

Bonus

-

Commission

2.5%

Raised

138 ETH

Active

14.09.2018

Finished unsuccessfully

17.10.2018

Analytics

Category: Blockchain                                                                      Country: Netherlands  Date: October 22, 2018

 

 

INTRO

Dusk.Network is a decentralized infrastructure that enables fast, anonymous and secure bi-directional transmission of data among equipotent peers, paid by a privacy-oriented cryptocurrency: DUSK.

 

 

TOKENOMICS

Metrics

Seed round: Q3 2017

Private Sale: Q3 2018 - ongoing

Public sale: no

Token: DUSK

Token type: ETC-20 → own specification

Hard cap: 14,4M for 50% of tokens (Hard cap was increased from 8M because Private Sale is successful)

Price: $0.058

Minimum investment: 100 ETH

Bonus: no

Bounty: no

Accepting: ETH

Сan't participate: Canada, Democratic People's Republic of Korea (North Korea), Ethiopia, Iran, Iraq, Serbia, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, United States of America (USA), Vanuatu and Yemen.

 

NOTE:

  • The hard cap is enough to build the project but from the view of the crypto investor Hard cap is too high to make ROI on the current market (investors can bring only up to $ 5-6M);
  • Minimum investment is too high (optimal is 0,01-0,05 ETH).

 

Tokens distribution

Token distribution:

Crowdsale funds distribution:

 

Protective measures against the tokens depreciation

Team tokens will have 12 month lockup and a 12 month vesting period thereafter.

 

All other tokens are vested for 12 months after a lockup of 6 months, except for exchange budget which is unlocked immediately.

 

After the Private Sale is conducted team will deploy a smart contract which will vest allocations second by second. What this means in practice is that at any point a token investor wanted to release their tokens, they can make a call on the smart contract and then will have access to the total number of tokens that will have vested at that second.

As an example: after the lockup, tokens will be vested over 31,536,000 seconds (365 days x 24 hours x 60 minutes x 60 seconds). If they did it at exactly 6 months, they would receive half. If they did it at 1 day, then 10 days, then 57 days, and then every 3 weeks; they would receive the relevant whole tokens (rounded down) at each specific second.

 

There is no confirmation that unsold tokens will be burned.

 

NOTE:

  • The address of the wallet of smart-contract ICO is not specified yet.
  • There is no escrow agreement, that could protect investors funds.
  • There is no confirmation that unsold tokens will be burned.

 

 

PRODUCT

The relevance of market problems solved by the project

There is no decentralized anonymous platform for low-latency bidirectional streaming of data through a privacy-oriented cryptocurrency.

 

The DUSK Network solves this  problem and make available the anonymization and decentralization of: Media-On-Demand Services, Video And Audio Conferencing, File Transfer And Online Storage, Communication Channel For IoT And Mission Critical Applications.

 

The description of key products and project technology

The DUSK Network features a new consensus algorithm vastly more efficient than proof-of-work or proof-of-stake called Segregated Byzantine Agreement, and built on top of a low-latency gossip network which utilizes non-repliable datagram and garlic routing in order to prevent IP Address propagation.

 

The project is complemented with an off-online file transfer mechanism and with realtime Dusk payment channel to enable undetectable and fast peer-to-peer data communication through a technique called Secure Tunnel Switching.

 

Project has incentives, that are designed to encourage peers to partake in the network in a permission-less, anonymous and private fashion. An important difference with CryptoNote, is that Dusk does not make use of proof-of-work mining and therefore drops completely CryptoNight and deviates substantially from the hashing algorithms therein adopted. The rewards paid are inversely proportional to the staked amount (i.e. bigger stakes get proportionally less rewarded, in respect to smaller stakes).

 

Project evolves CryptoNote algorithm through the Segregated Byzantium Agreement (SBA) protocol, which does not require the computational intensity of proof-of-work and is a fairer alternative to proof-of-stake. SBA allows only normal transactional nodes to compete for block-generation, while it restricts the computationally and network intensive tasks associated with verification, voting and notarisation (VVN operations) to non-transactional nodes called Provisioners. Provisioners harden the Dusk Blockchain by decreasing network communications across VVN operations, improving the time-to-finality through a notarisation process, decreasing the probability of network partitioning and contributing to the overall availability of Dusk Network.
Furthermore, they contribute distributed storage infrastructure in the Dusk On- Offline File Transfer, and enable runtime payments of high QoS transmission by handling state channels for communicating peers through a novel mechanism of Secure Tunnel Switching.

 

Dusk protocol makes use of:
Stealth addresses: to protect transaction recipient anonymity.
RingCT signature: to protect transaction sender’s identity. In the Dusk Network, RingCT is used by default for all transactions except those used to participate to the sortition for Block Generator (which are normally ring signed).
Anonymous Network Layer: to protect the IP address of the network peers; to provide secure data transfer mechanism; to implement off-line data retrieval strategy; to power the anonymous gossip network for transaction propagation and verification.

 

Among future development plans the project aims to implement Bulletproof Transactions (technology is already successfully implemented in Monero).

 

Network will be flexible and fast, Third-parties can use Dusk.Network for their dApps and smart contracts.

 

NOTE:

  • Tech specs of the DUSK blockchain are unknown.
  • Dusk Core will auto-regulate transaction cost to make it stable.

 

The stage progress and milestones of the project development (Roadmap)

Roadmap provides good technological overview on the project development and not time-stretched.

 

GitHub is private and will be public only after security audit.

 

MVP is not available.

 

NOTE:

  • The codebase of the project is not provided (will be public after the security audit).
  • Audit of the codebase by third-party is not provided.
  • There is no MVP.

 

The importance of blockchain in the project

Team is developing infrastructure project - blockchain with high focus on privacy, on which third-parties can build dApps and smart contracts.

 

Dusk is poised to be the first to simultaneously achieve previously conflicting goals of guaranteeing transaction untraceability and unlinkability, safeguarding user privacy, reaching transactional "finality" after a bound number of rounds within a single block election and achieving virtually unbounded user scalability without any significant performance degradation.

 

 

TEAM AND PARTNERS

Experience and the team achievements

The team consists of 17 employees.

 

Emanuele Francioni, CEO - Executive Director at Web 3 Ventures (1 yrs 4 mths) / Founder of GoSparc BV (2 yrs 4 mths) / Founder and CEO of Beestar (4 yrs 8 mths) / Team Lead → Managing Engineer at TomTom (6 yrs).

Fulvio Venturelli, Lead Researcher - Executive Director at Web 3 Ventures (8 mths) / Co-Founder of Beestar (5 yrs 2 mths) / Software Development Engineer at TomTom (4 yrs) / Website Build Engineer at Amazon (4 yts 1 mth).

 

Dmitry Khovratovich, Lead Cryptographer - Founder and Security Lead at ABDK (2 yrs 1 mth) / Security and Smart Ci\ontract CTO at ICOBox (1 yrs 4 mths) / Cryptographic Researcher at Evernym (2 yrs) / Cryptographic, Post-Doctoral Researcher at Microsoft Research Redmond. His is working at 5 projects at a time. There is a problem with the focus and quality of activities.

 

Jules De Smit, Blockchain Developer - Freelance Developer (9 mths). Previous job history is not clear. His participation in the project is not confirmed.

 

Kevaundray Wedderburn, Blockchain Engineer - On the GitHub he works on 31 repository and made 299 contributions in the last year. He has no Linkedin and his participation in the project is not confirmed.

 

Axel Verhuel, Blockchain Engineer - Developer and Architecture at Kryha (1 yrs 8 mths). He graduated from the university in 2017. His participation in the project is not confirmed.

 

Jelle Pol, Business & Product Dev - Blockchain, New Energies, Innovation at Shell (3 yrs 3 mths) / Co-Founder & CEO of Informance Group (9 mths).

 

+ 10 members with experience in Software Development, Marketing & PR and Business Development.

 

NOTE:

  • Participation in the project of some team members is not confirmed.
  • Some members of the the have no clear track history of previous jobs.

 

Advisory board

Advisory board consists of 5 people.

 

James Roy Poulter - CEO at The Reserve (1 yrs 4 mths) / CEO at Pronto Limited (2 yrs 3 mths) / International Tax Advisor at EY (3 yrs 5 mths). His participation in the project is not confirmed.

 

Aylon Morley - Director at Wentworth Hall Family Office (11 yrs 10 mths) / Mentor at Startbootcamp FinTech (2 yrs).

 

Richard Sanders - Director, Energy Defense and Energy Bureau of Investigations at Energi Core (7 mths).

 

Marcel Roelants - General Manager at EMEA → Advisor at BitPay (5 yrs) / General Manager at MasterCard (5 yrs) / General Manager at GE Capital (5 yrs).

 

Participation of Gary Quin is not confirmed.

 

NOTE:

  • Participation in the project of some advisors is not confirmed.

 

Strategic partners

Not confirmed: BlockVenture Coalition - is the largest alliance of university blockchain groups and venture money in the world (41 university / research groups, 44 blockchain specific VCs). Their mission is to connect high potential blockchain companies with the resources they need to excel, while spurring inter-university collaboration.

Not confirmed: Kryha — the project and management company responsible for the development of blockchain-based products. Kryha and Dusk Foundation will complete the technological roadmap of the Dusk Network, its decentralized infrastructure that secures privacy-enabled financial transactions, communication, and asset ownership transfers among peers, and promote its capabilities within the European Union.

Not confirmed: The Reserve — Fundraising & Compliance Partner.

Not confirmed: TNO — Cryptographic R&D & EU Consortium Partner.

Not confirmed: Watson Law — Legal Partner.

 

NOTE:

  • Some of claimed strategic partnerships are not confirmed.
  • Project has no strategic partners.

 

Large investors and investment funds

No data.

 

NOTE:

  • There is no confirmation of investments from some investors.

 

 

MARKET

Competitive environment

There are many blockchain projects in different stages of the development, that are aiming to solve same issues. Some of them well-funded, have strong teams, and already developed user base and infrastructure.

 

Most close competitors according to teams statement:

  • Algorand (at the stage of preparation to ICO);
  • Orchid Protocol (raised $ 40,8M during ICO, m.c. is unavailable);
  • Mainframe (raised unknown amount, m.c. is $ 28,5M, ROI USD 2,01x);
  • Origo Network (Raised $ 29,8M during ICO, m.c. is unavailable);
  • etc.

 

Technological advantages

  • Well-developed project.
  • SBA - a novel privacy-oriented consensus algorithm vastly more efficient than PoW or PoS.
  • Confidential Security Token Registry (information in the whitepaper is not found).
  • Secure Tunnel Switching - a gossip oriented communication tier inspired by I2P (for anonymous payments and data transmission).
  • IP Address Obfuscation.
  • Stealth Tx.
  • RingCT.
  • Bulletproof transactions (in a future).
  • The opacity of DUSK Blockchain makes every DUSK unit untraceable and therefore interchangeable.
  • Transactions need propagation only to a small and non-deterministic subset of the network
  • Engineered for decentralized applications that need high data-rate, secure and anonymous transmissions.
  • Rewards paid are inversely proportional to the staked amount (i.e. bigger stakes get proportionally less rewarded, in respect to smaller stakes).
  • On top of the platform can be build dApps and smart contracts.
  • There is no central role for any of the nodes. Each node works as an independent agent, with pre-established rules about data transmission.
  • Dusk can operate extremely well with unreliable connections and unorthodox configurations.
  • The transmission cost will be stable, and also independent from token fluctuations.


Also, team has provided comparison table of similar projects to show Dusk.Network advantages.

 

 

SOCIAL ACTIVITY

The project popularity in the social networks and discussion forums

The project is detected on the radar of the next influencers: ICO Dog and Crypto Calibur.

 

Twitter – 0,9k followers, an average number of likes per post is 9, and 3 reposts per post on average, with 0 comments on average. The audience’s activity is low.

 

Telegram – 8,8k members. The audience’s activity is high.


Reddit - 337 followers. The audience’s activity is low.

 

 

RISK ASSESSMENT

Pros:

  • Well-developed project with many technological advantages;
  • SBA - a novel privacy-oriented consensus algorithm vastly more efficient than PoW or PoS.
  • Engineered for decentralized applications that need high data-rate, secure and anonymous transmissions.
  • Good Vesting and Token Distribution policies.
  • Project has a positive hype - community discuss the technology.

Cons:

  • Many team members, advisors and partners are not confirmed.
  • There is no information about investments into the project from large investors.
  • Codebase and MVP are not provided.


CONCLUSION: Dusk.Network is a decentralized infrastructure for anonymous payments and data transmission. Also, on the platform third-parties can build dApps and smart contracts. Project has many technological advantages and some of them are novel to the market. Dusk is poised to be the first to simultaneously achieve previously conflicting goals of guaranteeing transaction untraceability and unlinkability, safeguarding user privacy, reaching transactional "finality" after a bound number of rounds within a single block election and achieving virtually unbounded user scalability without any significant performance degradation. Although many team members, advisors and partners are not confirmed, plus MVP and codebase are not public, there is a positive hype around the project - community discuss the technology.

 

 

Fraud risk - low. Community interest - high.

Product - 8.9
Team and partners - 7.1
Market - 8.8
Average score - 8

DISCLAIMER: This is not financial advice! None of the members of ICOPools.io are licensed financial advisors, hence you are urged to do your own due diligence and take your own decisions. (read more)