What Is Dero (DERO)?
DERO is a blockchain-based cryptocurrency that supports wholly anonymous transactions. This crypto project merges proof-of-work and DAG block structure technology for added privacy security. In brief, Directed Acyclic Graph (DAG) is a kind of database that connects different pieces of data together. As per its whitepaper, the main purpose behind this network is to create a unique state-of-the-art blockchain technology. Besides this, the network uses smart contracts and CryptoNote protocol technologies to improve privacy, reliability, usability, security, and portability. CryptoNote is an open-sourced protocol that allows for increased crypto assets transaction privacy. These technologies also allow its users to create Private Smart Contracts.
DERO features innovative DeroDAG technology, Bulletproofs, and a TLS (Transport Layer Security) encrypted network. TLS is a security protocol used for data security for internet communications, whereas Bulletproofs is a type of cryptographic test used for enormous privacy and anonymity. These advanced technologies promote quick transactions and an encrypted blockchain to maintain the privacy of users. The platform also has developed a fifty-one percent hashrate attack immune system. Hashrate is computational power used for mining and processing transactions that show network security. After experiencing the need for blockchain privacy yet transparency in specific situations, DERO blockchain designed a fully integrated hardware wallet with biometric protection. Besides this, the platform offers a secure, safe, and transparent voting process while keeping voters' identities anonymous among the public.
DERO is the ticker of the DERO platform's token. There are overall two million DERO coins premined. One million pre-mine for devs (developer) are locked and aim to unlock at twenty percent, twenty percent, thirty percent, and thirty percent, respectively, in one to four years. The other one million DERO coins are used for community growth and marketing, and project development.
History of Dero (DERO)
Three anonymous developers released DERO on December 5, 2017. Each core team member has over a decade of experience in blockchain development and cryptography. On June 27, 2018, the platform became the first cryptocurrency to execute Bulletproof on the network with original cryptography. The DERO community later launched its whitepaper on October 2, 2018. The currency has a maximum supply of 18.4 million DERO coins.
