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About Dero
Key Points:
- Dero is a crypto project combining proof-of-work blockchain with DAG block structure and anonymous transactions.
- It aims to improve upon existing privacy coins like Monero (XMR) and Z-Cash (ZEC).
- Dero’s implementation builds a main chain from a DAG network of blocks, with side blocks contributing to chain proof-of-work security.
- It considers the transaction as the smallest unit of computation, not the block.
- Dero combines security and decentralization of proof-of-work blockchain with scalability and transaction speed of DAG technology.
Founders:
- Launched in December 2017 by a team of
About Dero: Empowering the Future of Blockchain
Introducing Dero (DERO): A Revolutionary Cryptocurrency
Dero pioneers a novel approach by fusing a proof-of-work blockchain with a directed acyclic graph (DAG) block structure, ensuring wholly anonymous transactions. This innovative project strives to surpass existing privacy coins, such as Monero (XMR) and Z-Cash (ZEC), by synergistically combining the strengths of both consensus mechanisms.
The implementation of Dero constructs a primary chain from the Directed Acyclic Graph (DAG) network of blocks, comprising main blocks and side blocks. The latter contribute to the proof-of-work security of the chain, rendering traditional 51% attacks infeasible. Notably, Dero diverges from traditional blockchains in that it regards the transaction as the fundamental unit of computation, rather than the block. Consequently, blocks on Dero may contain duplicate or double-spend transactions, but these are filtered out by the client protocol and disregarded by the network.
In essence, Dero purports to synergize the robust security and decentralization inherent in proof-of-work blockchains with the scalability and rapid transaction capabilities of Directed Acyclic Graph (DAG) technology. The overarching objective of Dero is to establish a blockchain network that can cater to the needs of businesses and individuals globally, facilitating secure, swift, and anonymous transactions, as well as seamless smart contract execution.
The Visionaries Behind Dero: Meet the Founders
Dero was launched in December 2017 by a trio of full-time developers, whose anonymity belies their impressive credentials: over a decade of experience in cryptography each, supplemented by multiple years of blockchain development expertise. The project’s complexity and the milestones achieved – notably, the design of an entirely novel consensus mechanism in Golang, a programming language renowned for its robust security features – suggest that Dero was conceived by individuals with extensive hands-on experience in cryptography.
Dero’s Distinctive Edge: Unveiling its Unparalleled Features
Dero was meticulously crafted from the ground up to accommodate millions of users, boasting enhanced reliability, privacy, security, and usability. Embracing a “build it and they will come” philosophy, the team prioritized the development of robust technology, deferring marketing efforts until a solid foundation was established.
One of its standout features is the incorporation of CryptoNote, a protocol that shrouds the sender and receiver of a transaction in anonymity, thereby safeguarding the identities of all parties involved and ensuring an unprecedented level of privacy. Moreover, it boasts the distinction of being the first blockchain to implement comprehensive SSL encryption at the peer-to-peer layer, effectively encrypting all network traffic and shielding it from prying eyes of internet service providers seeking to analyze the traffic.
Dero stands out as the pioneering CryptoNote blockchain to achieve an impressive 75 transactions per second on its native chain, sans the need for scaling solutions like lightning networks. Notably, this surpasses the approximate five transactions per second achieved by Bitcoin. Moreover, Dero boasts a remarkable tenfold increase in Bulletproof speed compared to the norm. Bulletproofs, a cryptographic technique, significantly reduces the space required for zero-knowledge range proofs.
As such, Dero is poised to tackle use cases that necessitate confidentiality, including voting services, escrow services, and address certification/verification. Notably, the team has made significant strides, having established a minimum viable product in August 2018, with plans to deploy smart contracts on the mainnet in Q3 2021. Consequently, Dero can stake a legitimate claim as one of the premier privacy coins in the market.
What Is the Circulating Supply of Dero (DERO) Coins?
Dero boasts a capped supply of 18.4 million, with an initial pre-mine of two million DERO allocated at network launch, earmarked for financing development and marketing initiatives, but excluded from the circulating supply. The cryptocurrency features a yearly issuance rate of 157,000 DERO, with a smoothly decreasing block reward. Notably, Dero’s block time is a swift 27 seconds, significantly outpacing other proof-of-work blockchains, with a confirmation time of approximately 4.5 minutes.
The Dero Network’s Robust Security Mechanisms
Dero boasts a distinctive and robust security mechanism. Notably, it has implemented a novel mining algorithm, AstroBWT, an open-source proof-of-work consensus mechanism grounded in the one-CPU-one-vote principle. This innovative consensus mechanism mitigates the performance advantages afforded by specialized hardware, thereby preventing the concentration of mining power among a select few, as seen in Bitcoin’s ASIC-dominated landscape. Consequently, mining rewards are distributed more equitably, and consensus is achieved through a majority decision facilitated by the collective CPU power of its network of nodes.
By synergistically integrating the CryptoNote protocol with Directed Acyclic Graph (DAG) technology, Dero boasts unparalleled resilience to hash rate attacks and soft forks, ensuring uninterrupted operation. Notably, it is the fastest CryptoNote-based blockchain to be deployed to date.
Where to Acquire Dero (DERO): A Comprehensive Guide
DERO is listed on prominent cryptocurrency exchanges, including KuCoin, TradeOgre, CoinEx, and ViteX. For those seeking to delve deeper into the realm of cryptocurrencies and initiate their investment journey, our comprehensive education portal, Alexandria, offers a wealth of informative resources.
Associated Resources:
Explore Iota, a pioneering project harnessing the power of directed acyclic graph technology.
Discover Monero (XMR), the pioneering privacy-focused cryptocurrency that has garnered widespread acclaim.
Explore Z-Cash (ZEC), a pioneering privacy-focused cryptocurrency.
Delve into the world of privacy coins with our comprehensive guide, offering an in-depth exploration of these innovative cryptocurrencies.
Stay abreast of the latest developments in the cryptocurrency landscape and gain valuable trading insights with CoinMarketCap’s premier educational resource, Alexandria.