Jeeya_Awan

Diffie-Hellman Hardness Assumption:

In any group, a discrete logarithm loдb a is a number x ∈ Z such that bx = a.

Most of the cryptographic building blocks related to this work are linked to the Diffie-Hellman assumption which uses the hardness of discrete logarithms in cyclic groups .

Considering a multiplicative cyclic group G of order p and generator д, we
can formulate the following assumption: given дa and дb for uniformly and independently chosen a ,b ∈ Zp then дab performs like a random element in G of order p.

In above figure is A generic elliptical curve.
As a consequence of such assumed randomness, the Decisional Diffie-Hellman (DDH) Problem relates to distinguishing the following two probability distributions:
• (дa ,дb ,дab ) ∀a,b ∈ Z
// (дa ,дb ,дab ) are defined as a Diffie-Hellman Tuple
• (дa ,дb ,дc) ∀a,b,c ∈ Z

• Hiding Recipients: Stealth Addresses
Inspired by the CryptoNote white-paper, stealth address technology is at the basis of #Dusk recipient hiding technique. Already widely tested in other privacy-oriented digital currencies, it is the proven choice for concealing the true recipient address of a transaction while keeping uniqueness within the context of the ledger (meaning no other address can be linked to a stealth address). Additionally, a derivation of an unbound number of receiving addresses is also possible without any of them allowing traceability back to the recipient’s main address. As an anonymous key agreement protocol, Dusk uses the Elliptic Curve Diffie-Hellman (ECDH) due to the desired property of allowing two parties to generate a shared secret by solely knowing each other’s public key, and the generator point of the Elliptic Curve used in the Twisted Edward equation.
• Cryptographic building blocks:

This diagrams visualize:
The Diffie-Hellman key exchange process
Discrete logarithm problem definition
DDH distinguishing challenge
Group structure and properties
Mathematical relationships between assumptions
Security proof reductions
DH tuple vs random tuple comparison
Distribution of group elements
These show the mathematical concepts used in preliminary of @Dusk .
$DUSK

The @Dusk network makes use of a decentralized and privacy-oriented digital currency that evolves the CryptoNote protocol through the groundbreaking discoveries in the field of Byzantine consensus and pseudo-random functions of world renown cryptographers such as Silvio Micali, Michael Rabin, Alexander Yampolskiy and Evgeniy Dodis.

Dusk radically departs from any other blockchain by employing an adaptive consensus mechanism, called Segregated Byzantine Agreement (SBA), which does not require the computational intensity of proof-of-work and is a fairer alternative to proof-of-stake.

Built on such consensus algorithm, Dusk is poised to be the first to simultaneously achieve previously conflicting goals of guaranteeing transaction untraceability and unlinkability, safeguarding user privacy, reaching transactional finality after a bound number of rounds within a single block election and achieving virtually unbounded user scalability without any significant performance degradation.

The #Dusk network requires a heightened security setup designed specifically to:

(1) Obfuscate IP addresses of the communicating peers
(2) Prevent linkability and traceability of accounts
(3) Guarantee network performance

(4) Implement efficient payment mechanism for high QoS applications such as secure and anonymous voice calls.
An important difference with CryptoNote, is that Dusk doesnot make use of proof-of-work mining and therefore drops completely CryptoNight and deviates substantially from the hashing algorithms therein adopted.

In particular, Dusk uses what we call Segregated Byzantine Agreement (SBA) protocol which enhances classic BA by implementing specific measures to protect peer privacy. SBA has been developed specifically to power the Dusk Blockchain and help meeting the aforementioned requirements.
These efforts do not solely relate to the application layer but extend to the networking layer as well. This is why the Dusk protocol makes use of:
• Stealth addresses: to protect transaction recipient anonymity
• RingCT signature: to protect transaction sender’s identity
• Anonymous Network Layer: to protect the IP address of the network peers; to provide secure data transfer mechanism; to implement off-line data retrieval strategy; to power the anonymous gossip network for transaction propagation and verification.
• Non-Interactive Verifiable Secret Sharing Scheme: to conceal all but highest priority time-locked transactions from the participants to the Block Generation sortition
• Cryptographically Committed Provisioners: to protect the information about stake; to implement a division of responsibilities between Block Generators and the electable
• Block Voters and Verifiers; to boost network efficiency by acting as state channel guarantors; to incentivise participation to the network; to protect the balance information of
• transacting nodes; to prepare SBA for future expansion with non-balance and non-payment related weights such as storage contributed to the network (as in proof-of-storage), availability expressed in elapsed time since joining the network (as in proof-of-idle), etc.

$DUSK

By now you’ve probably noticed that @Dusk has rebranded! They're thrilled to have a new look that is sleeker, simpler, and more direct than before. The rebranding process is very detailed and in-depth, and throughout the process and subsequent rewriting of copy, three phrases are constantly present: Real-World Assets (RWAs), Compliance, and Privacy.
In many ways, these three sum up Dusk. They want to bring RWAs on-chain and to do that they must be compliant and private. Dusk is often called a privacy coin or at least put into the ZK rollup category. While dusk do care about privacy and do use zero-knowledge proof cryptography (they're not a rollup or Layer 2 though), it isn’t our end goal, and instead, they do this so that they can bring RWAs on-chain.
So, today let’s have a look at these three pillars, and how they benefit both businesses and users.

1) Compliance:
Compliance is hugely important for us and guides our decisions and infrastructure, as in order to interact with regulated assets we must meet their regulatory requirements. Financial institutions have to follow a huge amount of rules and regulations, and how they do this has thus far been built around centralized systems.
This has led to us developing tools like Citadel, a decentralized licensing protocol that can be used for everything from KYC/AML procedures to subscription plans. The twist is that it’s private, and operates using ZKPs, meaning users do not have to give away their personal data, while still being able to prove what is necessary to comply with the rules.
#Dusk has also make it easy for institutions and businesses to program and automate their compliance and follow policy. While this is a requirement for institutional adoption, it also is a strong business case in and of itself and can save companies huge amounts of money by automating and streamlining their processes.
While Dusk is business-friendly, their approach also benefits average users by returning custody, of their assets, data, and identity, to them while allowing them to engage with both classical assets and new ones.
Without compliance, we can have all the technology in the world but will never be able to use it in a meaningful way. A lot of blockchains are not capable of complying with GDPR, for example, and this will hinder business adoption.
Their founders were thinking about regulation and compliance long before it was cool, seeing that business adoption would require blockchain technology that’s capable of being compliant and legislation that is reasonable and allows blockchain to grow. At least in the EU, they have that.
2) Privacy:
Privacy is what they're best known for. Dusk use zero-knowledge proof cryptography, specifically PLONK, to ensure that transactions are verifiable and correct while being private.
Privacy is another necessity, both in general for all people and to facilitate mass adoption. Institutions will never tokenize their assets if every move they make is public, and regular people would also be hesitant to use blockchain in a meaningful way if it meant every transaction they’ve ever made was public.
This is what they're best known for, and while we care deeply about privacy as a right, we also recognize that it’s a necessity for blockchain to be used at scale and for things that matter.
Their approach ensures privacy while providing the auditability that institutions require, and in many cases provides higher standards of privacy than institutions and users are used to (by removing the need for third parties we provide higher levels of privacy).
Their novel approach to privacy and focus on the real world means that users are not constantly leaking data and can practice selective disclosure. Their goal with privacy is to match and then improve upon what is currently available.
3) Real-world assets:
These two points bring dusk to real-world assets. The ultimate goal of Dusk is to bring institutional-level assets to anyone’s wallet. This means users can move seamlessly between crypto and traditional assets and engage with traditional assets in the same way as they interact with crypto; trustlessless, permissionless, and with self-custody.
Bringing RWAs on-chain is good for businesses too, giving them faster settlement times, access to consolidated liquidity, and allowing them to use smart contracts for a lot of time (and money!) consuming processes.
Their goal is to deliver financial freedom and inclusion to all by improving the current systems and eliminating the inefficiencies they're all used to.

These three pillars make the digital world secure.
$DUSK

@Walrus 🦭/acc is a decentralized storage protocol based on erasure-coding. Anyone can interact with Walrus to store arbitrary data and prove that the data is stored. Like IPFS, Walrus itself is not a blockchain. However, Walrus leverages the Sui network for help with storage node lifecycle management, blob lifecycle management, and the introduction of incentive systems. Sui has achieved exceptionally high scalability compared to other blockchains with its own consensus and smart contracts. However, if Sui were to handle blobs in addition to transaction data, it would be inefficient as all nodes would replicate large volumes of blobs, greatly increasing the replication factor. Therefore, Walrus uses erasure-coding to divide blobs into smaller units called slivers and allocate them to nodes, allowing large volumes of data to be stored in a decentralized protocol with a replication factor of just 4-5. In particular, unlike existing decentralized storage protocols, #Walrus has the advantage of significantly reducing data recovery costs by using an encoding method called Red Stuff. So, what is Red Stuff
1) Encoding:

Red Stuff encodes the blob in two dimensions. This is for efficient sliver recovery. In the primary dimension, encoding is similar to RS-encoding, dividing B into f+1 primary slivers. Red Stuff goes a step further, dividing each of the f+1 primary slivers into 2f+1 secondary slivers in the secondary dimension. As a result, B becomes a matrix of (f+1) * (2f+1). Note that the example in the above figure assumes f=1. Based on this two-dimensional matrix, additional repair symbols are generated for both dimensions. Note that a symbol is a smaller unit of data than a sliver. First, the symbols of 2f+1 columns are expanded from f+1 to 3f+1, and then the symbols of f+1 rows are expanded from 2f+1 to 3f+1. The commitment to B can be easily calculated. W calculates commitments for each rows and columns including the additional repair symbols, then combines all these sliver commitments to create the blob commitment.
2) Write:
The process of storing data in the Walrus protocol is similar to protocols using existing RS encoding. W encodes the original data with Red Stuff to generate sliver pairs to send to each node. A sliver pair here refers to a pair of primary and secondary slivers, with a total of 3f+1 sliver pairs generated.
W then propagates 3f+1 sliver pairs and sliver commitments to 3f+1 nodes each. Upon receiving these, nodes verify the slivers through the commitments and send signatures back to W. When W receives 2f+1 signatures, it generates an availability certificate and publishes it on-chain (Sui network). This is because even if f Byzantine nodes sign, there are signatures from f+1 honest nodes, making it possible to recover the original data.
3) Read:
The process of reading data from Walrus is also identical to protocols using existing RS encoding, and only primary slivers need to be used. When R receives f+1 or more valid primary slivers from storage nodes, it can recover B and read the data.
4) Recovery;
The biggest advantage of Red Stuff compared to RS encoding is evident in the data recovery process. Assuming the network is in an asynchronous environment and nodes can freely enter and leave, there may be nodes that don't receive slivers from W. Therefore, these nodes need to communicate with other nodes to recover slivers.
Let's examine how a node that didn't receive slivers recovers data through the above figure (f=1).
a: Assume a situation where Node 1 fully possesses the first sliver pair, Node 3 has the third sliver pair, and Node 4 needs to recover the fourth sliver pair.
b: Nodes 1 and 3 send symbols that overlap with the fourth sliver pair (S14, S34, S41, S43) to Node 4.
c: Since Node 4 now has f+1 or more symbols for the fourth secondary sliver, it can recover the fourth secondary sliver. Extending this logic means that all 2f+1 honest nodes can recover their secondary slivers.
d: The fact that 2f+1 nodes all have secondary slivers means there are 2f+1 symbols in each row, which allows for the recovery of all primary slivers using these 2f+1 symbols. In conclusion, if f+1 or more nodes in the network have slivers, the remaining nodes can communicate with them to recover all slivers.
The size of a symbol is O(B/n^2), and each node needs to download O(n) symbols, so the recovery cost per node is O(B/n). Extending this to the entire network, the cost for all nodes to recover slivers corresponds to O(B). Considering that the cost of recovering data is O(n^2B) in the full replication method and O(nB) in the encode and share method, the Red Stuff method can process this very efficiently at a cost of O(B). In other words, the data recovery cost is constant regardless of the number of nodes (n) participating in the network.
• Walrus Storage Flow:
Red Stuff is one method of encoding data. Now, let's look at the big picture of how data storage occurs in Walrus, including interactions with Red Stuff and the Sui network.

A user wanting to store data in Walrus acquires storage resources. Storage resources can be purchased directly from the Walrus system object smart contract on the Sui network or from a secondary market. Storage resources can be understood as permissions to store data in Walrus, specifying the start epoch, end epoch, and how much capacity can be stored. The user applies Red Stuff encoding to the blob they want to store and computes the blob ID. Subsequent steps can be performed directly or by publishers existing in the network. To register the blob ID with the storage resource, the user updates the storage resource on the Sui network to trigger an event. The user propagates the blob metadata to all storage nodes and distributes each sliver to the respective nodes. Storage nodes receive the slivers and verify whether the metadata matches the blob ID and the slivers match the metadata, and if the user transmitting the sliver has appropriate storage resources. If deemed valid, storage nodes send signatures for the respective slivers to the user. When the user receives 2f+1 or more signatures, they generate an availability certificate and transmit it to the Sui network. From this point, the PoA (point of availability) status is updated on the Sui network, indicating that the blob is available to everyone. If there are storage nodes that haven't received slivers for that blob even after confirming the PoA, they can sync with other storage nodes to recover the slivers. Note that the Walrus protocol has an epoch concept for a certain period, and the set of participating storage nodes changes with each epoch. The amount of data allocated to storage nodes varies according to the delegated WAL tokens each epoch. Also, because participating nodes can change each epoch, there's an inevitable process of transferring slivers every time the epoch changes. Note that in the default case, slivers are transferred from the previous node to the new node directly instead of going through the recovery process. However, if there's too much data and the sliver transfer time becomes longer than the epoch, the epoch may not end. To prevent this, Walrus separates the data storage (write) and retrieval (read) processes into different epochs just before the end of an epoch. In other words, when the epoch changes and the node reconfiguration process begins, the data storage process proceeds in the next epoch from this point, while the data reading process still continues in the current epoch. When 2f+1 or more nodes in the new committee of the next epoch indicate that sliver recovery is fully prepared, the read operations also smoothly transition to the next epoch.
$WAL

• Decentralized Ledger:
A blockchain is a distributed ledger maintained by multiple servers. These servers share and manage the same transaction history through consensus algorithms. The fact that everyone possesses the same ledger gives rise to blockchain's various advantages, making the distributed ledger the core of blockchain technology. However, managing a distributed ledger is far more challenging compared to a centralized server. Although the size of distributed ledgers may increase rapidly, it doesn't pose a significant problem in the early stages of a network. However, if this situation persists, when the distributed ledger size becomes extremely large in the future, the entry barrier for new nodes joining the network will become very high, potentially leading to increased transaction fees for future users. Thus, the incentive systems of most existing blockchains focus solely on computation rather than storage.
• Sui’s Unique Onchain Data Storage:

Sui has strived to solve storage issues through incentives from its inception. Sui aims to achieve sustainable data storage through an economic mechanism called the Storage Fund, which operates as follows: The fees users submit to Sui validators are divided into
1) gas fees related to computation and
2) storage costs for data retention.
Sui collects storage costs upfront from users for permanent data storage and pools this into the Storage Fund. The Storage Fund continuously redistributes the accumulated amount to validators while the data remains stored on-chain. Moreover, users can receive a refund of the corresponding storage costs if they delete their data.
Sui's unique on-chain data storage system produces two effects:
✓ Since users can receive a storage cost rebate when deleting on-chain data, it can incentivize reducing the distributed ledger's capacity through economic incentives.
✓ The unique incentive structure of collecting storage fees upfront and allocating them as incentives for future validators can address sustainability issues related to storage.
• What About... Blob?
While Sui's Storage Fund is a powerful tool, it's not an efficient method for all types of data. This is because on-chain data includes both small-volume essential data for state calculations, such as transaction data, and enormous data like blobs that include media files. Walrus is a new storage protocol to deal with blob.
• Full replication; IPFS, Arweave:

The most intuitive and simple method to store blobs in a distributed environment is for nodes to replicate and store the entire B uploaded by W. For example, if you upload an image file, instead of nodes splitting and dividing the image file, they replicate and store the image file as is. For examples, IPFS and Arweave. Of course, this doesn't mean that storage nodes participating in IPFS and Arweave download all files stored across the entire network; rather, they store some of the files in their complete form.
W propagates B and the corresponding commitment (binding commitment, e.g., hash) to the nodes and waits until receiving f+1 signatures.
(Assumption: n = 3f+1; At least f+1 signatures are required to ensure that at least one honest node, excluding f Byzantine nodes, has stored B.)
Once f+1 signatures arrive, W can generate an availability certificate, guaranteeing that anyone can fully access the file on that network. However, full replication has many drawbacks, primarily inefficiency:
✓ Write: When W propagates files to nodes to store data on the network, it has a complexity of O(nB).
✓ Read: In an asynchronous environment, reading data incurs a cost of O(nB) because requests must be sent to f+1 nodes.
✓ Recovery: To recover data in an asynchronous environment, a storage node must send requests to f+1 other nodes, costing O(nB) for each storage node. When applied to the entire network, this results in a cost of O(n^2 B). Note that this is the worst cast cost.
• Encode and Share: Storj, Sia

As I mentioned above, the full replication method had advantages of being simple, intuitive, and easy to access complete files, but its drawback was the high storage cost for the entire network. To address this, decentralized storage networks using Reed Solomon (RS) encoding emerged. Notable examples are Storj and Sia. RS encoding is a prominent method for implementing erasure coding, widely used in real life for CDs, DVDs, QR codes, etc. Erasure coding divides original data into multiple pieces and generates additional recovery data from these pieces. Even if some data is lost, the original data can be restored to a certain extent using the recovery data. Let's look at an example of the Encode and Share method. W divides B into f+1 data chunks and additionally encodes 2f extra repair chunks. Thanks to RS encoding's characteristics, the original B can be recovered with just f+1 chunks out of a total of 3f+1 chunks. Here, each chunk's size is O(B/n). W uses binding commitments like Merkle trees to commit to all chunks and sends each node a chunk along with a proof of inclusion showing that the chunk is included in the Merkle tree. Storage nodes receiving chunks verify their validity using the commitment and send a signature back to W. W generates an availability certificate when it receives at least 2f+1 signatures from nodes (as B can be recovered via f+1 even if f out of 2f+1 are Byzantine nodes). The Encode and Share method is more efficient in data writing and reading processes compared to Full replication, but still has the drawback of inefficient data recovery.
Write: It costs a total of O(B) as W propagates chunks of size O(B/n) to the network for data storage.
Read: R has a complexity of O(B/n) * O(n) = O(B) as it must request chunks from nodes and receive f+1 valid responses.
Recovery: In an asynchronous environment, to recover data, each storage node incurs a cost of O(B) as it needs to receive chunks from 2f+1 nodes. Applied to the entire network, this results in a total cost of O(nB), which is still inefficient.
Increasing the efficiency of the data recovery process is crucial because, being a decentralized protocol, nodes can freely join and leave the network. In cases where the node set changes with each epoch, new nodes need to receive and recover chunks from previous nodes. Recognizing this issue, Walrus utilizes a new encoding method.
• Red Stuff: Walrus
Walrus can achieve a recovery cost of O(B/n) for each node and a total recovery cost of O(B) for the entire network through Red Stuff encoding.
Hence, Walrus is the next gen storage protocol.
@Walrus 🦭/acc #Walrus $WAL

Seal + Walrus, are now offering encryption and access control for anyone building on the protocol.
As the data layer for Web3, @Walrus 🦭/acc already provides decentralized infrastructure for data storage, availability, and programmability. With the launch of Seal, Walrus now delivers a solution for integrating programmable data access into any app at any scale.
This vital technology invites developers to harness public data while simultaneously safeguarding sensitive information. Walrus isn't just a tool, but a transformative force for decentralized applications, heralding an exciting chapter in data-driven enterprises.
Web3’s transparency means data is public by default. For many, that is a benefit, while others require privacy or access controls. Walrus with Seal enables builders to create products that not only require verifiable data, but also data privacy, fine-grained access, and secured sharing. A whole world of Web3 apps becomes possible when these technologies work together.
• Making privacy part of public infrastructure:
Transparency is the core principle and basic ethics of Web3, but the idea that your data is visible to everyone can present challenges for builders and users alike. For those who need to manage potentially sensitive data, it’s a nonstarter. Anyone who wants to keep data confidential either has to use a centralized service or build a custom setup; not only time-consuming and expensive, but also a barrier to entry for newcomers exploring onchain data management solutions.
With Seal, #Walrus is the first decentralized data platform to natively offer onchain access control. Developers can now protect sensitive data, define who can access it, and enforce those rules entirely onchain.

• Unlocking transformative use cases:
With the addition of programmable data access control, Walrus now enables entirely new categories of applications that were previously impossible in decentralized environments. For example:
✓ AI Dataset Marketplaces: Organizations can now share proprietary training data or fine-tuned models while enforcing strict access policies. Data providers can monetize their assets without losing control, creating new revenue streams in the AI economy.
✓ Token-Gated Subscription Services: Premium content such as exclusive podcast episodes, videos, or educational materials can be encrypted and made accessible only to verified subscribers, enabling sustainable creator economies on Web3.
✓ Dynamic Gaming Content: Game developers can reveal encrypted in-game content, story elements, or assets only when players achieve specific milestones, creating more engaging and interactive gaming experiences.
• Partners are driving real-world adoption:
Dozens of Walrus-powered projects are already using Seal, demonstrating the immediate practical value of onchain encryption and access control. Examples include:
✓ Tokenizing AI Infrastructure:
Inflectiv is building a data platform for AI that uses Walrus with Seal to gate and tokenize datasets. This allows contributors to protect and monetize their data while providing developers and enterprises with secure, trusted assets for AI and agent-driven applications
✓ Trustless Gaming Mechanics:
Vendetta is a fully onchain multiplayer strategy game that leverages Walrus with Seal to secure in-game data and mechanics. Players gain true ownership of their progress and assets while competing in skill-based, tamper-proof battles within a transparent and secure game economy.
✓ Securing AI Agent Infrastructure:
TensorBlock is building a decentralized AI platform that uses Walrus with Seal to secure models, memory, and datasets. This lets contributors protect and monetize their data, making AI accessible and democratic for all.
• A full stack for decentralized data:
Sui and Walrus, now with Seal, aim to accelerate the transition from Web2 to Web3, creating a comprehensive infrastructure stack for the decentralized internet. Sui provides the high-performance blockchain foundation. Walrus with Seal delivers scalable data management, availability, and access control essential for enterprise adoption. This integrated approach addresses the full spectrum of requirements for building sophisticated Web3 applications that can compete with Web2 counterparts. The momentum for building full stack apps continues to grow.
✓ OneFootball plans to use Walrus with Seal to deliver content with built-in rights management, ensuring it reaches the right audiences while protecting intellectual property.
✓ Watrfall, the Ron Perlman-led fan-funded studio, is using Walrus with Seal to unlock new models for distribution, ownership, and fan engagement.
✓ Alkimi is already processing over 25 million ad impressions per day using Walrus, with Seal keeping confidential client data secure while maintaining the transparency benefits of blockchain technology.
The future of Web3 apps relies upon data that's intelligently controlled, privately managed, and enterprise-ready. That’s why it will be built with Walrus and Sui.

$WAL

As Dusk evolves into a modular architecture, it introduces Hedger, a new privacy engine purpose-built for the EVM execution layer.
Hedger brings confidential transactions to DuskEVM using a novel combination of homomorphic encryption and zero‑knowledge proofs, enabling compliance‑ready privacy for real‑world financial applications. Unlike Zedger, which was built for UTXO‑based layers, Hedger is built for full EVM compatibility. It integrates directly with standard Ethereum tooling, making it scalable, auditable, and easy to adopt from day one.
• Cryptographic Design:
Most DeFi privacy systems rely solely on zero-knowledge proofs. Hedger takes a different approach. It combines multiple cryptographic techniques to balance privacy, performance, and compliance:
✓ Homomorphic Encryption (HE): Based on ElGamal over ECC, it enables computation on encrypted values without revealing them.
✓ Zero-Knowledge Proofs (ZKPs): Prove correctness of computations without disclosing the underlying inputs.
✓ Hybrid UTXO/Account Model: Supports cross-layer composability and seamless integration with real-world financial systems.
✓ This layered cryptographic design allows Hedger to support regulated securities with confidentiality and auditability at its foundation.
• Key Capabilities:
Hedger unlocks a set of features purpose-built for regulated markets:
✓ Support For Obfuscated Order Books: Hedger lays the ground for the upcoming deployment of obfuscated order books,, a critical feature for institutional trading that prevents market manipulation and protects participants from revealing intent or exposure.
✓ Regulated Auditability: Transactions are fully auditable by design, ensuring compliance when required.
✓ Confidential Asset Ownership & Transfers: Holdings, amounts, and balances remain fully encrypted end-to-end, preserving privacy while ensuring transactions stay auditable.
✓ Fast In-Browser Proving: Lightweight circuits allow client-side proof generation in under 2 seconds, enabling a seamless user experience at scale.
These features make Hedger a core pillar of DuskEVM, bridging institutional privacy with real-world usability.

• Strategic Value:
Hedger is a first-of-its-kind privacy engine that doesn’t trade off compliance, performance, or usability.
While the EVM’s account‑based model prevents full anonymity - a capability Zedger still offers - Hedger nonetheless delivers complete transactional privacy, providing seamless compatibility with the wider tooling ecosystem and significant gains in performance and architectural simplicity for DuskEVM. Developed in-house, Hedger combines years of applied cryptography research with practical performance, regulatory alignment, and developer accessibility. It’s a foundational component enabling real-world financial applications to operate privately, compliantly, and at scale.
@Dusk #Dusk $DUSK

MiCA not only regulates, it legitimizes blockchain, bringing us into the fold, setting requirements and providing opportunities. The enforcement of MiCA makes an honest woman of blockchain.
• What is MiCA?
MiCA (Markets in Crypto-Assets Regulation) is the European Union’s framework for crypto-assets. It’s designed to standardize how non-securities DLT-based projects operate, including how they issue assets, provide services, manage custody, and interact with users. Doing so paves the way for the mainstream, institutional adoption of blockchain. Blockchain can be treated like any other technology; institutions understand how to use it, and the regulatory framework means we can operate above board, in the light. MiCA introduces clear EU-wide rules for crypto-asset issuers and service providers. It defines how services should be structured, what information must be disclosed, and when a crypto activity requires a license. It complements, but does not replace, existing financial or AML regulations. It doesn’t cover everything, for example, NFTs, algorithmic stablecoins, DEXs, DAOs, security tokens, mining, staking, CBDCs, and DeFi protocols without intermediaries are still in a grey area, but MiCA draws a clear line around activities that have regulatory consequences.
• MiCA Misconceptions:
You don’t “get a MiCA license.” You get authorized under MiCA through your local financial regulator, often as a CASP (Crypto-Asset Service Provider: for example centralize exchanges, brokers, and custodians). That authorization lets you operate across the EU. MiCA also doesn’t just apply to stablecoins or centralized exchanges. If your product involves token issuance (minus the above that do not apply, ie, algorithmic stablecoins), custody, advice, or execution, especially in a way that touches users in the EU, you’re subject to the rules.
And while some see MiCA as limiting, for many it does the opposite. It provides a framework that institutions can work within, and that’s what opens the door to meaningful adoption.
• What changes now?
The introduction of MiCA gives legal weight to activities that were previously operating in a vacuum and in the dark. This means more structure and rules, but also more opportunity as institutional money and activities can start to be on-boarded in a meaningful way. Regulated entities can start exploring on-chain asset issuance, provided they are a stablecoin or utility token, without needing workarounds or wrappers. Institutional custody of digital assets has a framework to work with. Service providers have clarity on how to operate legally across the EU. Builders and innovators also have clarity on what the requirements are. While regulation can feel stifling, in this case it actually means innovators can operate in the EU, free from the fear of being found to be uncompliant and backwards punished for infractions before rules existed.

• What Happens If You Are Non-Compliant?
MiCA doesn’t ban blockchains or protocols, but it does regulate the activities built on top of them. If a project issues tokens (stablecoin or utility token), provides custody, offers trading infrastructure, or promotes investment opportunities to EU users, it falls within MiCA’s scope, regardless of whether the code is open source or the protocol claims to be decentralized. Being based in the EU, or even having core contributors in the EU, increases your exposure. Regulators can interpret “established in the Union” based on substance, not just incorporation, meaning location, operations, and active user engagement all matter.
For protocols or teams that aren’t compliant, the consequences can include:
✓ Fines and enforcement actions
✓ Cease-and-desist orders
✓ Blacklisting from regulated counterparties
✓ Loss of access to banking and on/off-ramp services
✓ A negative effect on institutional partnerships
Even projects that previously operated in legal grey zones will now find that the bar has been raised. MiCA gives regulators the tools to pursue unlicensed activity across all 27 EU member states, under one framework.
For serious builders, especially in the real-world asset space, MiCA isn’t a burden, it’s a blessing. Without it, you’re limiting your access to institutional markets, excluding EU users, and risking enforcement down the line.
• Why Dusk is positioned for this moment?
The development on Dusk began long before MiCA, but with the prediction that regulation would come, and we have worked hard to ensure compliance with all EU regulations. Our prediction was that regulations and institutional interest would come, and to be ready for them when they did.
Dusk is designed to handle compliance natively:
✓ Privacy is built in, but can be disclosed selectively where needed
✓ Their partnership with NPEX gives access to a licensed Multilateral Trading Facility (MTF) and broker license, opening up regulated primary and secondary markets
✓ And our tech stack supports real-world assets from issuance through to trading, without relying on off-chain enforcement
✓ Their partnership with Quantoz, and their digital euro, EURQ, an Electronic Money Token (EMT) suitable for use as legal tender
This is infrastructure for regulated digital finance, not just another execution layer.
@Dusk #Dusk $DUSK

• What Tokenization Means for SMEs and Private Companies and how the next wave of digital finance is empowering the backbone of the economy.
• Finance Is Changing. But Not Just for Giants:
For years, blockchain has been seen as the playground of large institutions and retail traders. But one important group often gets overlooked in these discussions: small and mid-sized enterprises (SMEs).
SMEs make up over 99% of all businesses in the EU, employing more than 83 million people and generating over half of Europe’s GDP. In other words, they are the economy.
Yet when it comes to capital markets, these companies are often locked out. Private fundraising is slow, opaque, and costly. Managing shareholders involves endless legal paperwork. And liquidity? Almost nonexistent unless the business is acquired or goes public. Tokenization and native issuance change that.
• The Challenge: Private Companies Are Locked Out
Traditional capital markets were built for giants not growth-stage companies.
✓ Listing on a stock exchange is prohibitively expensive.
✓ Private placements require lawyers, intermediaries, and months of due diligence.
✓ Secondary markets for private shares barely exist.
For Europe’s 24 million SMEs, these barriers stifle growth and innovation.
• The Solution: Turning Shares into Digital Securities
Tokenization and issuance let companies represent (or natively issue) real-world assets like equity or debt - as digital tokens on-chain.
On @Dusk , these tokens are regulated, privacy-preserving securities, allowing for:
✓ Instant transferability between verified investors
✓ Automated compliance (KYC/AML/transfer restrictions)
✓ Programmable dividends and voting rights
✓ Real-time ownership tracking
✓ Lower issuance and management costs
It’s finance as code, giving smaller companies the same capital efficiency that large institutions take for granted and allowing more people to invest in early-stage companies.
• Privacy and Compliance Can Coexist:
#Dusk ensures confidentiality without compromising regulation. In fact, privacy is necessary for compliance.
Through cryptography, companies can prove transactions meet legal requirements without exposing sensitive data.
That means a company can remain compliant, access financial resources, and take advantage of the speed and efficiency of blockchain.

• Why Dusk?
Dusk was built to bridge the gap between TradFi and DeFi, and to blur that line until you can trade regulated assets with the same ease as you can trade digital ones.
Our tech is purpose-built for regulated, privacy-first on-chain finance.
Whether you’re a fintech platform, a corporate service provider, or an SME looking to modernize, Dusk provides the infrastructure to issue, manage, and trade tokenized securities securely and legally.
• The Future of Private Markets:
SMEs aren’t a cute niche, they’re the backbone of the global economy.
As tokenization becomes mainstream, we’ll move from a world of paper shares and PDFs to one of digital ownership, instant compliance, and global investor access.
Dusk is now available to make that as easy as possible.
$DUSK