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
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)
– CryptoNote (rewritten in Golang)
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.
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
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%
DERO supports most major architectures and platforms including ARM, INTEL, MAC/WIN, FreeBSD, OpenBSD, and Linux.
https://wallet.dero.io (Browser Wallet)
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.
Private Repo: https://git.dero.io
*Originally posted on Hashr8’s Medium.
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