Dero DERO

$1.80
Market Cap $ 10.034 MM (#348)
24h Volume $ 85.051 K
Chg. 24h: 3.51%
Algo. score 3.2/5  (#385)
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Dero project purpose and description

Dero clarity of purpose

Dero purpose and aspects

DERO was started as a code fork of Monero (which itself started as fork of Bytecoin). Utilizing the CryptoNote protocol, DERO aims to be a completely new blockchain technology, integrating cryptonote protocol features for privacy and also new smart contract control. Cryptonote core is in the process of updates in golang. DERO will be introducing smart contracts on DERO blockchain. CryptoNote protocol implementation in Golang is almost completed.

Short description

The Dero Project has written a unique new blockchain technology that is based on the CryptoNote protocol. Dero's goal is to create a unique state of the art blockchain technology with enhanced reliability, privacy, security, usability, and portability by bringing together some of the best proven technologies like the CryptoNote protocol and smart contracts, thereby allowing for the creation of truly private smart contracts. The Dero development team has implemented complete SSL across the Dero network which is a first on any blockchain. This encrypts the entirety of our network traffic, which greatly reduces our attack surface, while simultaneously preventing ISPs or other users from analyzing Dero’s network traffic.

Abstract

DERO is a new, experimental blockchain technology written in Golang with a focus on enhanced Privacy and Smart Contracts while maintaining the transparency and security of the blockchain. The goal is to create a unique state of the art blockchain technology with enhanced Reliability, Privacy, Security, Usability, and Portability by bringing together some of the best proven technologies like CryptoNote Protocol and Smart Contracts, thereby allowing for the creation of Private Smart Contracts. Blockchain is an open, distributed ledger that can record transactions between two parties efficiently, and in a verifiable and permanent way. CryptoNote Protocol uses a distributed public ledger that records all balances and transactions of its in-built currency like Bitcoin. Unlike Bitcoin, CryptoNote's transactions cannot be followed through the blockchain in a way that reveals who sent or received coins. The only people with access to the whole set of data about a transaction are the sender or receiver of the transaction. A smart Contract is a protocol intended to facilitate, verify, and enforce the negotiation or execution of a digital contract. Smart contracts allow for direct contract execution without a third party. These transactions are trackable and irreversible. Smart contracts were first proposed by Nick Szabo in 1994.

Link to Roadmap: https://dero.io/
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