DERO White Paper

0
228

Hello and welcome to this blog post about DERO White Paper. I am very excited to know that you are interested in this amazing technology, you will be going to amazed by the incredible potential of the blockchain.

There is a lot to learn about this futuristic tech, lets get started to dive into the Dero white paper and start to leverage it to build a more secure and trusted ecosystem for Industry 4.0 applications.

The aim of this blog post is to help you quickly understand about the philosophy behind the Dero (DERO).

I can ensue you that, you will be able to understand every bits and pieces related to Dero (DERO) after going through the Dero white paper.

Without wasting any further time lets get started to dive right in and lets understand white paper first.

What is white paper?

A white paper is an informational, influential, well-structured document, usually published by an organization, to provide in-depth information about a specific solution.

A white paper is used to provide a good insight into the challenges for a specific problem and a proposed solution for the same.

Dero White Paper

Dero white paper will be going to provide you, all the information that is needed to get started with Dero (DERO), including the inspiration for creating, the problem it is trying to solve and the solution proposed by Dero (DERO).

Introduction

“ The Dero Project has written a unique new blockchain technology that is based on the DAG and CryptoNote protocol with double spend protection.

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. For more details about Blockchain, CryptoNote Protocol, and Smart Contract see:

• Blockchain

• CryptoNote

• CryptoNote Specs

• Smart Contract

Some brief examples of what a smart contract is capable of managing without third-party intervention include: access authorization to a physical object like a building or internet-of-things (IoT) devices, asset management, trading, ticket purchasing, or share distribution.

In some instances, an individual or organization would prefer not to reveal the details of the transaction or contract (i.e. participants, amounts, and contract terms) to the rest of the world. Dero brings true privacy to smart contracts for the first time on any blockchain.

Truly private smart contracts are a unique feature offered by DERO that other projects to date (October 2, 2018) do not offer.

Dero accomplishes this by keeping all aspects of the transaction, smart contract, and users details private on the original blockchain without the need to trust sensitive or otherwise private information to second layer or off-chain solutions. “

White Paper Link: Dero White Paper

That’s all for this blog post.

It will be great if you can help me to spread the word about this Dero white paper by sharing this post.

If you have any questions related to the Dero white paper or need some further information or have some specific queries, feel free to ask your questions in Comment Section.

I monitor this section very closely and answer all your questions as fast as possible.

Also keep visiting us, as we keep on adding new content very frequently. You can also follow us on social media to get frequent updates.

Leave a Reply