The use of the internet of things and social media is ever increasing. The result of the increase is a society headed towards hyper-connectivity in the digital industry. However, despite all the benefit and connectivity, the current platform doesn’t have the capacity to hold the important role they need to play. Most of them are either public by default or most of them, have no means of maintaining privacy. This is where the DERO project is important. What is the DERO project and what does it do the help improve the situation on the increased internet of thing and social media usage?
What is DERO?
According to the official website, DERO is an experiments blockchain technology with the focus on enhancing privacy and smart contract sand the same time maintaining the security and transparency of the blockchain technology. The aim of the project is to create a unique blockchain technology with enhanced security, usability, reliability, privacy and portability. It wants to bring proven technologies pike smart contracts and CryptoNote together, thereby allows for the creation of private smart contracts.
How the project works
With the aim of making a better blockchain technology, DERO uses the smart contracts to allow the performance of transaction with the need of third parties. This enhances privacy, reliability, security and other key points on the project from the very beginning. The blockchain uses smart contract to access, authorize and open doors for other services such as purchasing, and managing assets and tickets.
DERO virtual machines
The DERO virtual machine is a “Turing complete, 256-bit virtual runtime environment for DERO Smart Contract with CryptoNote protocol and additional modifications.” The DVM is an addition that helps in the execution of smart contract main privacy and supports the solidity and Golang language on the platform.
Since the DERO project began, the team behind the project have been in the process of building it to become a world-class blockchain. Some of the features that the project hopes to introduce soon include:
- First Quarter-2018: Implementation of CryptoNote Protocol in Golang
- Second Quarter-2018: GUI wallets, Atomic swap, Subaddress support and Smart contracts testing.
- Third Quarter-2018: Smart contracts support introduced to the blockchain
- Fourth Quarter-2018.: Partnerships, and Enhancements.
Who is behind the project?
The team behind the project include developers, marketing team, and advisors. The company is looking to research, develop and expand the DERO blockchain and is looking to add other team members to help them reach their quest.