Dusk Network Looks to Disrupt the Financial Market with New Testnet

Blockchain technology affects the financial industry beyond just the creation of cryptocurrencies and tokenization of assets. Among many use cases, existing or emerging, this technology is leveraged generally to boost business processes and to create efficiency across different aspects.

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

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

Daybreak boasts zero-knowledge cryptography and privacy-centric smart contracts, among other features. Sources say that the project will see contributions from the community and that updates will be announced on how this will go about.

Dusk Network is looking into employing experts with veteran skills in running nodes and engineering to ensure that the testnet can serve its intended multiple purposes. These functions include testing new features and network growth.

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

Dusk Network said,

Network-wise, we intend to use the public testnet to test new features and test for network growth, but never both at the same time

Prior to the testnet launch, active users are given the opportunity to become node provisioners by simply signing up or visiting the block explorer. Following a successful launch, block explorer will be providing insights into network statistics such as block times, the latest block, and gas prices.

Dusk Network is a privacy blockchain that operates 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 with the programming of smart contracts.