Dusk Network for Finance Companies and Regulators
Many companies and the regulators are finding it harder to trust the Ethereum and Solana. And they are trying to come up with their own solutions which would be helping them with finance dApps.
This means the people who want to build up the secure, fast and the industry standard based chains are in search of new solutions that would help them from the blockchain side.
I recently discovered Dusk network that is working in this space for the blockchain. So I thought why not go ahead and try to find what it is and how it can become a good Ethereum Competitor.
Let's talk about it.
Privacy and Zero-Knowledge proofs
Dusk is focused on making their chain around the ZK proof and Privacy. Because they feel that the financial transactions and the financial apps need the privatey rich features. So they want to build the chain and it's smart contract tech around it.
ZK tech is another thing that has been growing in the Ethereum space too. But it's more or less industry standard now and almost every chain that values the privacy is in the process making use of the same.
If there are going to be a bank app and also the bank specific transactions then it would be possible that the Dusk network would be supporting those features required by those bank like networks.
Speed meets Regulation and Compliance
Everybody wants speed. And nobody wants the slow chains like ethereum and the bitcoin. Also they want the transaction fees less. So the thing is that having a good speed blockchain is a necessity.
Let's talk about regulation. Almost every blockchain out there should be regulated if they wish to work with the tax payers data. And that means there has to be regulation that takes care of the legal part.
Compliance is another thing that should be something we have to work with as we need to have some ledgers to log things. If you do then that would be making it easier for the chain to keep tab on regulation.
Dusk looks Promising for Fintech
A lot of chains are working in the fintech space and dusk too has made some progress on that note. And if things continue to improve then the dusk may get some good traction and it would have enough userbase too.
Dusk can be a good blockchain to keep an eye on for the fintech space. So if we happen to invest into this space then we will see Dusk being integrated like the polkadot in most of the chains out there.
What do you think?
Posted Using LeoFinance Beta