Dusk Network seeks to disrupt the financial market with a new testnet

Dusk Network seeks to disrupt the financial market with a new testnet

  • On March 22, Dusk Network launched its “Daybreak” testnet.
  • The blockchain network is dedicated to promoting on-chain compliance and privacy for financial companies.
  • Users can be node providers by registering or visiting the block explorer.

Blockchain technology is affecting the financial industry beyond just creating cryptocurrencies and tokenizing assets. Among many use cases, existing or emerging, this technology is usually leveraged to boost business processes and create efficiency in different aspects.

Dusk Network, one of the thriving companies in the blockchain space, has launched its testnet network in line with its goal of creating work efficiency. This new testnet is a step towards creating a comprehensive financial blockchain experience and resource.

According to the announcement, Dusk Network has already launched its “Daybreak” public testnet and blockchain on March 22. The blockchain network will focus on promoting on-chain compliance and privacy for financial companies.

Daybreak offers zero-knowledge cryptography and privacy-centric smart contracts, among other features. Sources say the project will see community contributions and updates will be announced on how it will play out.

Dusk Network plans to employ experts with seasoned skills in running nodes and engineering to ensure that the testnet can serve its multiple purposes. These functions include testing new features and growing the network.

The team behind the project, however, has yet to share any more details about the project.

Dusk Network said,

On the network side, we intend to use the public testnet to test new features and test network growth, but never both at the same time.

Prior to the launch of testnet, active users have the option to become node providers by simply signing up or visiting the block explorer. After a successful launch, Block Explorer will provide information about network statistics such as block times, last block, and gas prices.

Dusk Network is a privacy blockchain that works specifically with financial applications. By leveraging Dusk Network’s technology, compliance and easy collaboration will be ensured while maintaining an element of control. Among other tools, the network includes a zero-knowledge solution called PLONK and a virtual machine that helps in the programming of smart contracts.

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