Here’s one thing about crypto investing. It’s full of adrenaline and admittedly, at times nerve wrecking. Case in point, the past week has been a bloodbath for leading cryptos. Funny enough, some aspect of leading network’s on-chain metrics spectacularly recovered. Of course, there is an opportunity to reap serious profits from some of the tokens and coins that are recovering but took a beating. Most, given what they are proposing and their kind of partners, are seriously undervalued. But, that’s my perspective.
Today’s notes will cover some few coins that are ripe for investment in Q4 2019 from a retailer’s point of view. Don’t misconstrue this as investment advice. My opinion are mine, do your own research.
So, let’s get going.
Interesting Catalysts to Consider
Ocean Protocol ($OCEAN): This is a no brainer in my view. Data is the new oil, it is pure gold if you ask me. The cool thing about Ocean is that they are building a platform where data providers and users can securely mingle and draw maximum benefit from their association. Ocean Protocol is a peer to peer network for data exchange and services. Data providers get paid to share their data. Simple! And their drive was so strong, they found this call unstoppable, raising money in a bear market. Some took issue with this, but here we are, the platform is up and running. AI and machine learners are using their data, breaking down previous silos and democratizing the space. They are clear that their platform “will be for data scientists, AI researchers, large enterprises, NGOs and governments that need a way to get data and services seamlessly.”
So, why am I bullish on Ocean?
The POA (Proof of Authority) network is up and live. Tagging several functionalities which references a common market place, users-data providers and users, can use their Ocean tokens to get paid or access services. Besides, developers can build on Pacific, with Ocean as a token of exchange. At this stage, common datasets are more available than ever with better APIs. Development has been turbocharged, and their roadmap right on track that POA is FOUR months after Nile. Obviously, there will be more demand for Ocean as the team work towards the next milestone scheduled for March 2020. Along with that, $Ocean is well-positioned to gain.
Ocean is backed by leading funds and partners including Unilever, Rochi and Messari. However, what is interesting is the involvement of Unilever Foundry. They partnered with NextBillion, and it will be their anchor customer. NextBillion is built on the Ocean Protocol, meaning the more Unilever demands for data sets, the more Ocean tokens will be valuable. Remember, POA is on, and I expect demand to pick up in the days ahead. Also note, one of Singapore’s used car listing sites, sgCarMart, is using Ocean Protocol for their “Know-Your-Vehicle” initiative. The site attracts over 2 million visitors per month.
The team is also working on Web 2.0 integration-for computer and storage services, with better service execution agreement in staking conditions, bounty rewards and slashing conditions. Progress is on track and they keep updating the community on each and every milestone they hit. Every 4-6 months, their roadmap is updated.
Dusk Protocol ($DUSK): Well, this ought to be a grand opportunity for value investors. Yes, the cryptocurrency and blockchain projects are “censorship resistance”, autonomous and pretty much unregulated. But that is not to say these projects operate in isolation. That they function without complying with country-specific laws. And worse, it gets complicated when hard-earned money is involved. Regulators, especially in the US, Europe and Japan, are not budging, and would demand for safety nets for investors.
Dusk Network streamlines this. It is a transparent, self-sufficient ledger where projects can crowd-fund in an STO. Investors of STOs are guaranteed that the project won’t defraud them as tokens are backed by the assets of the company, are valuable and have voting power.
In Dusk, there tokens will function as money but also tags smart contracting capabilities while remaining private. The combination of all these features is why I’m bullish in the long term but also raved in the expecting the token’s value to surge in the near-time. All Dusk needs to do is capture a small portion of the securities market, and digitize assets and then a slingshot move to the top 50 is a real possibility.
Other than that, here’s why $DUSK looks good:
The Dusk Network has launched the public testnet shin. And it gets more interesting. This test net will have a DUSK faucet, CLI wallet, Monitoring tool, and more. If anything, this is pretty important because from the ground up, the platform was designed for securities and asset digitization while stymieing redundancies. This is a critical development because Testnet Shin is the first publicly-available implementation of Dusk, a significant milestone for dApp development and Dusk is delivering that.
The Dusk mainnet is set to launch in Q4 2019. Launch is a proof that it is indeed possible to build a platform with a new consensus technology, zero-knowledge cryptography and security framework in collaboration with regulators. This is huge and bullish for Dusk!
Dusk is listed at Bittrex International, Binance, Bitfinex, ETHfinex and Binance DEX with over $2.2 million in daily trading volume but in a recent interview, Jell Poll of the Dusk foundation said they have plans to further engage the community. Dusk is building towards a “full browser node experience” and Browser nodes is a big part of that. These nodes, according to Jell, will build from TestNet Shin.
Dusk has been added to Fantom’s BNB Bridge. What does this mean? Well, going forward, user can easily convert between Dusk between ERC-20 and BEP2 standards. This sort of interoperability between Ethereum and Binance, two huge blockchains, is bullish for Dusk. And let us not forget Bitfinex choose Dusk to build a fully regulated security exchange.
The former MD for ConsenSys Ventures, Kavita Gupta, recently joined Dusk as a NED chairwoman. Those are experts seeing value in the network. The more experts involved, the more legitimate the project. Legitimacy coupled with proven partners (credit Suisse, TNW, GRS etc) often means higher demand for Dusk tokens. Since they are focused on the European market, it will be exciting to see what Gupta brings on-board towards this goal.
I hope this was informative for you. Feel free to comment via Twitter. Never miss crypto investor insights by subscribing to our mailing list.
https://cryptogems.com/wp-content/uploads/2019/09/Dusk-Network-and-Ocean-Protocol.png6001200Cryptogemshttps://cryptogems.com/wp-content/uploads/2019/04/Copy-of-Copy-of-Untitled.pngCryptogems2019-09-30 15:52:212019-09-30 15:52:28Notes from a Crypto Speculator (#2)
Evidently, there is this understandable rush for compliance. Blockchain investors as well as enthusiasts don’t want to get caught on the wrong side of the law. And as regulators jostle to thoroughly understand the mechanics of blockchain, there is an obvious shift from the investment side. Increasingly, they prefer security tokens to utility tokens due to the rights conferred by the former. Security tokens are digital shares of a company that are compliant with jurisdictional law meaning investors are protected against foul play. Of the many security tokens out there, perhaps Nexo is the most visible.
Just recently, they paid out millions in dividends to token holders besides publishing a detailed report informing stake holders. Even so, it must be understood that blockchain, although being an efficient and disruptive tech, doesn’t exist in isolation. There are rules and coincidentally, security tokens are in the middle of this maze. In simple terms, a security token is a token that derives its value from an external asset. In turn that asset is subject to existing laws mostly governing securities.
The asset in question can be traded in the free markets but assuming the startup fails to comply, consequences tend to be severe, even derailing the project’s roadmap since associated penalties are usually huge. The most distinct characteristic of a security token is its ability to act as representation of share of the company’s assets, voting rights, earnings or basically anything deemed to be valuable.
essence, security tokens are created as investments, and investors have the
right to receive dividends. While there are platforms that are active in this
front, Dusk Network’s advances are noteworthy.
Introducing Dusk Network
their homepage, Dusk Network describe themselves as a “a
cryptographically transparent digital ledger. A high-throughput and scalable
permissionless blockchain that provides confidential proofs of ownership,
compliance and funds. It satisfies global privacy requirements yet enables
audits by the public and the regulator.”
Condensing this, the network is simply a privacy protocol layer from where developers can build private ZK proofs dApps thanks to their smart contracting ability.
Moreover, Dusk Network’s native currency Dusk can act as money. The security tokens generated from this platform are compliant with existing laws, are contractually audible and private.
Depending on the need of the issuer, their tokens can be enterprise or consumer grade where interested party can issue, register and trade securities in a platform that has been designed to prevent unwanted forks, power centralization and uncertain transaction finality.
main pillars of Dusk Network are as follows:
There is privacy which eliminates bad actors from their ecosystem through the use of revolutionary privacy technology protecting trade secrecy and simultaneously remaining compliant with privacy data laws like Europe’s GDPR. Some of these privacy technologies include the use of Garlic routing, secure tunnel switching-which secures communication, and Segregated Byzantine Agreement (SBA) meaning computational requirement is low.
A privacy-centric blockchain inculcating Confidential Security Contracts (XSC). Because of this, there is trust and resilience. Indeed, Dusk Network is the first blockchain that is specifically designed for the regulated markets. Through XSC, participants-that can be businesses or investors, can share real-time rich registry.
Business continuity since all supported data, saved on the blockchain are validated and secured cryptographically by nodes that are evenly distributed across the globe. Dusk Network does this while remaining resilience, bulletproof and above all reliable.
The Dusk Network core team is diverse and experienced with valuable years at Amazon, TomTom, Mozilla and background where the majority worked in blockchain development. Consisting of developers and members of the business community, the team is overly determined to make the project as successful as possible.
Emanuele Francioni is the Project and Tech Lead. He is a certified SCRUM master. Meanwhile, Fulvio Venturelli is the Lead Researcher & DevOps while Dmitry Khovratovich is the lead cryptographer. During his time at the University of Luxembourg and “Amis de l’Université”, he was honored and received the Best PhD Thesis and the Best Paper Award during the Program Committee of ASIACRYPT 2010 conference in December 2010. Then there is Matteo Ferretti, the Lead VM Architect, Jules De Smit and 10 other members.
On the advisory end, James Roy Poulter, Aylon Morley, Gary Quin, the Senior Advisor of Credit Suisse and Marcel Roelants the advisor at BitPay are involved. There are four other advisors including Nicolas CIMON and Ivan Poon, the co-founder of Switcheo & Payboy.
In an intertwined ecosystem, the Dusk Network has already forged partners with exchanges, associations and individual companies.
Aside from listing in Binance and Binance DEX, and being a member of the Binance Info Transparency initiative, the Dusk Network has a working partnership with Bitfinex and Ethfinex. It is also a member of the BlockVenture Coalition which describes itself as the “largest alliance of university blockchain groups & venture capital funds.” Being a member, they add, brings forth the chance to “collaborate with blockchain groups, gain visibility with VC funds, build relationships with top exchanges, connect with industry leaders.”
Network also works with The Reserve, an institution “Governed by ethics, an
ethos of doing right, a mandate to make a positive impact and an institution
100% pledged to the world,” WatsonLaw whose objective is to build a “framework
for growth” and Infloat that has a presence in eight countries.
partners include Ethfinex, Switcheo that paves the way for secure, multichain
trading experience, Bittrex International, Web3 Ventures and LiteBit.
Details of Dusk Network (dusk)
creators of Dusk Network reiterate that a thriving economy can’t simply be
created out of scratch but rather it emerges from underneath the technology.
Dusk Network is therefore an expression of this technology.
a pre-defined set of methodologies, principles and rules, the network rewards
good players and punish those with bad intentions. Powering the ecosystem is
the Dusk security token.
to platform, Dusk acts as money that is used to operate the platform’s
functionalities as Dusk transactions or XSC-based securities. The token is easy
to use, compatible and therefore used for rewarding stakeholders and paying
of any public blockchain, every transaction within the Dusk Network attracts a
network fee which is then used to sustain the operations of the platform and
the fees are levied on both Dusk transactions and XBC-based securities.
Besides, there is a one-time fee levied for a Confidential Security Contract
that is published on the network. This is for incentivizing stake holders who
processed the information.
About Dusk Token
is an BEP2 and ERC-20 token that is currently operating from a platform in test
phase. In their crowd funding, 50 percent of the 500 million Dusk tokens were
available for public investment. Each token can be swapped for other XSC-based
tokens through atomic swaps. However, Dusk tokens can be staked and through
them, users can participate in striking consensus. Besides, like ETH, it is used
for paying gas when deploying dApps and emitted through block validation where
a portion of these tokens will be channeled towards a development fund.
40 percent was dispersed as ERC-20 tokens and 10 percent as BEP2 tokens. Both tokens were vested and there is a linear vesting contract in place that will end on Nov 30, 2019 for ordinary investors. Otherwise, there has been an extension of the vesting period for big players.
About Dusk Network ICO
The Dusk crowd funding was a success. Then the project raised $8,075,557.00, which was more than 4X of the soft cap of $2 million and $6.4 million short of the hard cap of $14.4 million. During the ICO–which was done from Aug 1 to Nov 30, 2018, each token was available at $0.0404. Only BTC, ETH, USDT and Euro were the accepted currencies but investors from Yemen, North Korea, US, Canada and several countries were barred from participating.
There was yet another IEO carried out between Oct to Nov 2018 where each token was available at $0.0576, raising an additional $1.33 million.
were distributed as follows:
50 percent for private
18.1 percent for
11.8 percent for
exchange partnering and ecosystem development
7.3 percent for
marketing and PR
6.4 percent for
6.4 percent for
Market Cap, Trading Volumes and ROI
Dusk has a market cap of $13,997,723 from a circulating supply of 102,941,176
attracting daily trading volumes of $2,274,283 with a daily trading range
oscillating between $0.124536 and $0.137813.
Dusk is on average trading at $0.13 and supported by several exchanges. Majority of trading stems from Binance where it is paired against ETH, BTC, BNB and stablecoins as PAX and USDC.
token is also traded at Hotbit and Bittrex where it is paired against BTC, and
Switcheo where traders can liquidate their ETH for Dusk. So far, Dusk is in the
top 250 as per market cap ranking. Further, from ETH scan there are 13,876
unique addresses that have so far generated 30,800 transfers.
distribution reveals a little bit of centralization as one address holds 52
percent (or 264,069,328 dusk tokens) of the total token supply.
The ROI of Dusk in USD terms from the ICO and IEO is 3.35X and 2.35X respectively.
Short Term Catalyst
is evolution, and the team proudly acknowledges that development from inception
has been remarkable. Not only are they working on improving their technology’s
primitives as they work from the ground-up but they recently released a second white paper detailing advancement
security features from their years of research include Private Proof-of-Stake
protocol, a Permission-less Proof-of-Stake protocol with statistical finality
guarantees, a Quasi-Turing-complete Virtual Machine with zero-knowledge proof
capacity and a Confidentiality-preserving account-based transaction model.
these developments were rolled out while the network remains as open source and
private as possible. Understandably, their objective is based on privacy and
platform from where institutions or retail consumers can launch smart contracts
controlling digital assets and securities.
the project is in test net, it has already listed at leading exchanges as
Binance and Binance DEX, Bittrex, Bitfinex from where it crowdfunded during the
IEO. Overly, that means Dusk is liquid and on a true path of eliminating
technical barriers, hindering mainstream issuance and trading of regulated
the daily trading volumes of Dusk token exceed $2.2 million and with an
ambitious path, it only means that institutions seeking to invest on blockchain
startups whose tokens or dApps are regulated and compliant with the existing
laws would find it easy to settle on the Dusk Network. Investing on any STO
based on the XSC smart contracts mean payment in Dusk.
the more the demand, the higher the value of Dusk tokens. Ideally, if Dusk
network goes mainstream triggering a network effect, Dusk as a native currency
of the platform will benefit and it’s only safe to say that the trajectory of
its value will be northwards.
that route-and desirous of becoming the Ethereum of Security token offerings,
BWRE, the Maltese real estate firm will be the first to tokenize their asset
and hold their STO on the Dusk Network.
objective of the STO will be to raise $24 million. Dusk Network will receive the
assistance of iFinex, the parent company of both Bitfinex and Ethfinex.
on the announcement, Dusk Network’s business lead Jelle Pol said:
“We are extremely keen to showcase what Dusk Network can do as a layer 0, and really see working together with parties like BWRE as a great kickstart to our ecosystem. We cannot wait to see more platforms use Dusk as an underlying protocol.’’
Long term Catalysts
an STO as an alternative to fraud-and-scam ridden ICO is a viable option for
companies searching for the much-needed liquidity. The Dusk Network is readily providing
them with a platform where investors can draw benefits-not just utility, from
the ownership of the company’s tokens.
that in line with their goal of providing privacy and concurrently adhering to
regulator’s requirements, Dusk Network complies with AML and KYC regulations
meaning there is an element of whitelisting, privacy compliance, management of contractual
restrictions and adequate support for clients whenever transactions fail.
with the ground work required for perfect streamlining and sensitizing the
investor space that there is indeed a window for investing in blockchain
startups without the risks of being defrauded, the platform has a lot to prove
All the same, Dusk is getting their infrastructure ready. If everything goes as planned then 2020 could be a great year for the yet-to-be exploited STO landscape. That means Dusk as a native currency for the STO ecosystem is at a pole position, strategically placed in a maturing sphere.
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