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Cryptocurrency 01 Feb 2019

Dero: A Peek Inside Virtual Machine and Smart Contracts Testnet

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Home Cryptocurrency Dero: A Peek Inside Virtual Machine and Smart Contracts Testnet

Hi, it is Cat! I like to stay updated on innovative crypto projects and I think DERO is one of them. I decided to interview the developers of DERO to find out what the DERO team has in store for us. Read the interview below.

 

1] Could you shortly explain what Dero Project is?

DERO Project is a Decentralised DAG Blockchain that has been developed from scratch in Golang and is being actively developed by original developers. DERO also offers secure and private smart contracts on its native chain without the need of any extra layers or a secondary blockchain. DERO is the first crypto to combine a proof of work blockchain with a DAG block structure and wholly anonymous transactions. DERO will be the first CryptoNote blockchain to have smart contracts on its native chain which will enable DERO’s goal to create a blockchain network that can serve businesses and individuals around the globe, allowing for secure, fast and anonymous transactions and smart contract execution.

As DERO uses a DERO DAG implementation its side blocks also contribute to security and if the DERO network finds another block at the same height, instead of using one the DERO network will include both blocks making DERO 51% attack (Double spend) immune.

With the inclusion of DERO Rocket Bulletproofs, DERO offers a 12 second blocktime which in a testnet environment was as low as 3 seconds but the decision was made to bring it back to 12 seconds to support people in locations with sub optimal connectivity so they could still participate in the network. We plan to reduce the blocktime further in the coming years as infrastructure improves around the world.

2] Could you explain what Virtual Machine is and why it is important?

DERO Virtual Machine represents entire DERO Smart Contracts eco-system which runs on the DERO block chain.

DERO Virtual Machine is a decentralized platform that runs both public and private smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference. Public Smart contracts are open versions. However, the DERO Virtual Machine is being designed to support Private Smart Contracts where everything is hidden, eg parties, and information involved. Smart Contracts are nothing but rules which apply on transacting parties.

3] How will Virtual Machine and Smart Contracts benefit users & could you tell us what will be tested during testnet?

DERO Virtual Machine apps run on a from scratch custom-built privacy supporting, encrypted blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of assets/property without leaking any information. No one knows who owns what and who transferred to whom.

This enables developers to create puzzles, games, voting, markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other ideas/things that have not been invented yet, all without a middleman or counterparty risk.

4] Does DERO have promising milestones to look forward to?

We are currently in the process of setting up the DERO Foundation to bring DERO to the world’s attention. We will be releasing a 2019 Roadmap very soon. We are also working to bring more exchanges on board with larger trading volume and hope to announce more details soon. Every day brings new innovative ideas to the DERO team, but we aim to bring the best, built from scratch technology the crypto space has seen.

5] Do you have anything to add?

DERO is the industry leader with innovation and features DeroDAG technology, Bulletproofs, Smart Contracts and a TLS encrypted network. 2019 will be the year the world will know about DERO. If you wish to speak further in detail, please see our links below.

Website: https://dero.io

Discord: https://t.co/WaM33LMHn9

Telegram: https://t.me/DeroProjectGroup

Twitter: https://twitter.com/DeroProject

Reddit: https://www.reddit.com/r/deroproject

DERO Forum: https://forum.dero.io/

DERO Wiki: http://wiki.dero.io/

DERO GitHub: https://github.com/deroproject/derosuite/releases


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