What is Dero?
The Dero coin or DERO is the official currency of the Dero project. The latter is a blockchain-based platform primarily used to develop and launch decentralized applications or dApps without compromising decentralization, security, speed, and scalability.
DERO was launched without the help of an Initial Coin Offering (ICO). Instead, the core team behind the project initiated a pre-mining event. A fixed supply of 2,000,000 Dero coins was pre-mined during this event.
When it comes to pre-mined DERO, half of the coins are distributed towards community building and marketing efforts while the remaining half went to the developers.
There is a max cap of 21,000,000 DERO. This could mean that as the Dero coins become more scarce, the DERO price will increase.
Anyone can acquire Dero coins via mining. Dero utilizes a unique mining algorithm called AstroBWT. It’s a type of Proof-of-Work (PoW) consensus mechanism.
In addition to mining, users can also acquire Dero coins via major supported exchanges. You can find the full list above.
The block reward for mining undergoes a halving event every 4 years.
DERO is a cryptocurrency and like many other coins and tokens, it tends to be volatile. In other words, the DERO price tends to fluctuate. You can keep up with fluctuations with the help of our tracker above.
What are the Main Features of Dero?
Dero is an experimental blockchain network. It’s written in the Golang programming language.
It’s an entirely open-source project which means that its codebase is publicly available for anyone to review.
As discussed in the What is Dero section, Dero claims to maintain both high scalability, security, and transaction speed. How is this possible, you ask?
The blockchain technology that lies beneath the Dero project is based on a combination of a DAG block structure and a Proof-of-Work consensus mechanism.
Dero operates using a Proof-of-Work (PoW) consensus mechanism called the AstroBWT. It’s a type of economically efficient CPU mining algorithm based on mathematical proofs.
One of the main benefits of AstroBWT is that it’s ASIC, FPGA, and GPU resistant. This ensures that Dero coins are distributed in a fair manner as miners with specialized hardware do not mine more efficiently.
When it comes to the Directed Acyclic Graph or DAG, Dero’s main chain is built from the DAG network of blocks. This includes both main blocks and side blocks.
Interestingly, Dero’s network of blocks can hold double-spending transactions or duplicates without compromising the network itself. This is possible because the network ignores them.
Another crucial component of the Dero blockchain network is CryptoNote. The latter is an application layer protocol whose main responsibility is to guarantee complete privacy. CryptoNote does this by hiding the identities of all transacting parties.
Even though Dero is a blockchain that's powered by CryptoNote, it does not rely on a lightning network to address the issue of scalability. Dero is capable of processing around 75 transactions per second (TPS). This is a huge improvement when comparing the network to one of the largest players in the industry - Bitcoin. It processes around 5 transactions per second which is 15 times slower than Dero.
CryptoNote and DAG are also responsible for preventing hash rate attacks.
Furthermore, the aspect of privacy is enhanced through SSL. The Dero crypto project is the first blockchain to integrate SSL in the Peer-2-Peer layer of the network. The main benefit of complete SSL integration is encrypted network traffic. This means that internet service providers are not able to access said traffic information.
Dero has some other unique blockchain features such as Bulletproofs - a variant of zero-knowledge proofs that increases the speed of block times.
One of the primary goals of the project is to create a new type of privacy coin. In other words, a heavily improved version of privacy coins that exist today, such as ZCash, Monero, or Horizen.
If this project interests you, please make sure to do your research before making any decisions. You can start by having a more in-depth look at the DERO price history or the current DERO price on the graph above.
Who Developed Dero?
The Dero crypto project was launched in late 2017. Its founding team has chosen to remain anonymous. Nevertheless, they introduce themselves as cryptography experts with years of experience within the sector.
The project is supported by the DERO Foundation. Its main responsibilities include overseeing the development of the project, maintenance, growth, and marketing efforts.
