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HASHR8 Privacy Coin Reviews: DERO

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Project Name: Dero Project

Coin Ticker: DERO

Market Cap: $5,969,891 (As of 18 February 2020)

Exchanges: Kucoin, TradeOgre

Mining Algorithm: CryptoNight v1 (Custom CPU-only mining algorithm coming soon)

Block Time: 12 seconds

Funding:

Premine (2 million coins total: 1 million for the community, 1 million for development) See: https://github.com/deroproject/documentation/blob/master/premine.md

Development Team: Anonymous Developers (@DeroProject), Not-for-profit Foundation (@Dero_Foundation)

Privacy Protocol:

– CryptoNote (rewritten in Golang)

– RingCT

How does the project protect users?

We have created an ecosystem that works together to not only protect the identity of all users, but also to prevent network and protocol level attacks that could potentially compromise the assets stored on a traditional blockchain structure.

BlockDAG Structure

No orphan blocks, No soft-forks. 51% attack resistant.

TLS/SSL Encrypted P2P Protocol

This layers controls exchange of blocks, transactions and blockchain itself, which is fully

TLS/SSL encrypted.

Optimized BulletProofs (Source)

Zero knowledge range-proofs (NIZK) optimized for performance.

(Part of Ring Confidential Transactions) Pederson commitment algorithm is a cryptographic primitive that allows user to commit to a chosen value while keeping it hidden to others. Pederson commitment is used to hide all amounts without revealing the actual amount. It is a homomorphic commitment scheme.

(Part of Ring Confidential Transactions) Borromean Signatures are used to prove that the commitment has a specific value, without revealing the value itself.

Additive Homomorphic Encryption is used to prove that sum of encrypted Input transaction amounts is EQUAL to sum of encrypted output amounts. This is based on Homomorphic Pederson commitment scheme.

Multilayered Linkable Spontaneous Anonymous Group (MLSAG) (Part of Ring Confidential Transactions) MLSAG gives DERO untraceability and increases privacy and fungibility. MLSAG is a user controlled parameter (mixin), which the user can change to improve transaction privacy. A mixin of minimal amount is enforced, which the user cannot disable.

Ring Confidential Transactions gives untraceability, privacy, and fungibility, while making sure that the system is stable and secure.

Core-Consensus Protocol that serves two major purposes it protects the system from adversaries and forking/tampering and the next block in the chain is the one and only correct version of truth (balances).

Proof-of-Work is part of the core consensus protocol, which is used to cryptographically prove that X amount of work has been done to successfully find a block.

Fully Auditable Supply (https://explorer.dero.io)

Explain the Anonymity Sets (per txn): Mandatory Minimum Members (3M), minimum of five ring members per transaction. Optional mixin above 3M

Privacy By Default: Privacy by default, cannot be switched off.

% tx Anon: 100%

Wallets:

DERO supports most major architectures and platforms including ARM, INTEL, MAC/WIN, FreeBSD, OpenBSD, and Linux.

Wallets:

https://github.com/deroproject/derosuite/releases

https://wallet.dero.io (Browser Wallet)

Helpful Links:

Guide: Using the Browser Wallet (https://medium.com/deroproject/dero-using-the-web-wallet-f5774a172b70)

Tutorial: Install a Full Node (https://medium.com/deroproject/install-a-full-dero-node-with-stats-the-easy-way-b8997347ed9e)

Quick Start: DERO Wallets (https://medium.com/deroproject/dero-wallets-quick-start-7fb2fec81702)

What does privacy mean to you?

Privacy means security and freedom. This is especially apparent in societies that do not have privacy. Privacy can literally be a life saving tool for citizens that live under totalitarian or oppressive governments. Likewise, privacy is also important for governments and corporations that wish to protect their data as well. Privacy is something that we all value in one way or another and should be accessible to everyone.

Why is privacy important to your project team?

We feel privacy is a right that everyone should have as well as an invaluable tool for businesses and governments that want to do business on the blockchain. Without privacy it is difficult for them to use blockchain in the most impactful and meaningful ways, since there are some things that you may not want to share on a completely transparent ledger.

What makes your project stand out above other projects?

The creation of original, cryptographicaly advanced technology from scratch is already something that sets projects apart from others. Creating a cryptonote blockchain with the addition of additional solutions for stability and security such as the DERO blockDAG and network privacy features from the protocol level up is definitely a unique position that not many projects can claim these days.

What do you have in the works for future development?

Custom CPU-only algorithm

Fully Homomorphic Encrypted Smart Contracts (FHE-SC)

Our next major release (codename Stargate) will bring private smart contracts to our base layer on mainnet.

We are also working on a new custom mining algorithm that will reduce the performance advantage of specialized mining hardware in order to make CPU mining competitive.

The Stargate release is set to reach the Dero mainnet in Q2 of 2020.

What is the path to mass adoption of your project?

One part of mass adoption is the use of more accessible programming languages for our smart contracts. DVM-BASIC is based on BASIC and is easy to learn as well as program. The first goal of the project has always been security, but ease of use and accessiblity will lead to mass adoption as the project matures.

Learn More:

Web: https://dero.io

Medium: https://medium.com/deroproject

Twitter: @dero_foundation

Github: https://github.com/deroproject

Private Repo: https://git.dero.io

*Originally posted on Hashr8’s Medium.

About H4SHR8

HASHR8 Podcast is presented by HASHR8 OS. HASHR8 OS is a Linux-based operating system designed to help you increase the efficiency of your mining machines and maximize your overall profitability. Now with ASIC and GPU support, HASHR8 OS provides the best experience in crypto mining, allowing you to manage your facility from any mobile device. HASHR8 OS is mining as it should be.

Take complete complete control of your mining operations today at https://os.hashr8.com

Listen to the Hashr8 Podcast here.

Hashr8 is the go-to source for information on cryptomining news and technology.  We produce a weekly podcast discussing cryptocurrency, mining, and blockchain tech.  Also, we draft relevant articles and reviews on all things Cryptomining. For our enterprise clients we provide facility design, outfitting, facility management and optimization services to industrial farms and data centers.

Website:

https://hashr8.com/

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The Daily Chain – Inform. Educate. Succeed.

Hashr8
Hashr8 provides comprehensive cryptomining solutions at scale for industrial facilities and power suppliers around the world.

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