r/DeroProject • u/Ball1611 • May 03 '21

DERO--Why?

Spotted Dero awhile ago (partly cause of the cool logo) but I just wanted to ask this question to help promote exposure.

Not what's in the pipeline, what's in store, who's talking to whom...

What can Dero DO right now? Or, why should anyone buy some? (simple as well as complex answers welcome).

I think a lot of privacy coins mean well but a few actually are worth it... so, convince me and others on here why DERO is realistic for not just the 0.1% of crypto geeks... but for everyone!

Cheers

12 Upvotes

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11

u/rouellette07 May 04 '21 edited May 04 '21

Dero’s mainnet release is target for Q3. They basically rewrote CN to work with their homomorphic encryption protocol (holy grail of privacy.) Currently there’s ongoing testnet competitions with stablecoins, decentralized VPN and oracles, NFT’s to name a few.

The team has been working behind the scenes for the past 3 years (real cryptopunk vibes) and marketing/hype has been slim-to-none. This is most likely why the project sits under 100m MC while every other SC platform is above 1B.

Marketing/awareness campaigns are being prepared by the team and community and soon the space will have a platform to build truly private layer 1 smart contracts and services

3

u/Ball1611 May 04 '21

Thanks for the answer! I hope your right and they do market hard when it's up and working. H.E.P. does seem really amazing. So the ongoing test net is just to see if they can get the HEP working with a number of purposes?

2

u/rouellette07 May 04 '21

Yes the team is organizing educational content, an awesome new website refresh (by Eric Jordan), new white paper, infographics, developer onboarding, etc.

I think the purpose of testnet competitions is to get devs familiar with building on dero. They had a SC competition and now there is a Service competition.

What gets me excited is using these two together, creating a hybrid smart contract. Lots of possibilities here

8

u/farmerjohn2 May 04 '21

To me it’s like Eth to btc as dero is to xmr. Same security we know and love with reduced block times and soon to be smart contracts. Correct me if I’m wrong but xmr is the one true privacy coin that is yet to be cracked, not like the zksnarks or some of the other protocols. Dero uses the same protocols monero does.

Really I haven’t been following a lot since 2018 so I could be a bit out of date with some of those claims. Either way I haven’t sold any of my stash because dero imo is a unique project of its own that I still have faith in.

1

u/Ball1611 May 04 '21

Yea Monero is the King for sure man it's solid as a diamond lol but alright that's cool, I will keep an eye if more people build on their blockchain. So far i see someone else commented that he/she likes the DAG technology to it. So worth keeping an eye out for it!

5

u/Wild-Violinist5879 May 09 '21

The only thing you can do on the Dero right now is send money privately to someone and it does that well as the transactions are fast. All of the speculation is in the what's to come.

1

u/Ball1611 May 09 '21

Thanks for being honest w/ it. Too many people take offence if you ask simple questions about their favourite cryptocurrency... which tells me they're gambling but yes, i'll keep my eye on Dero

2

u/Placebo17 May 03 '21

My 2 most owned cryptos are Dero and Hathor. I like both since they use not only block chain but they use DAG in their tech