Dero’s goal is a blockchain network that can serve businesses and individuals worldwide and support secure, fast, and anonymous transactions.
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What Is Dero?
Dero combines a proof-of-work blockchain with a directed acyclic graph (DAG) block structure, and is capable of performing private transactions. Dero is seeking to be a revolutionary improvement from other privacy coins such as Monero (XMR) and ZEC. Dero plans to do that by maximizing the benefits of both consensus strategies.
Its implementation extends the main chain from the DAG network which is made up of main blocks and side blocks. Side blocks strengthen the chain proof-of-work security of block-based systems, rendering traditional 51% attacks impossible. Comparable to other blockchains, Dero considers transactions as the smallest unit of computation, rather than blocks. This means blocks on Dero will probably contain duplicated or double-spend transactions, but are filtered by the client protocol and ignored by the network.
How Does Dero Work?
Dero created a unique and highly effective security framework. They also released a brand-new mining algorithm called AstroBWT, an improved proof-of-work consensus process based on one CPU one vote. This way of voting prevents any sort of miner oligopoly that other major coins suffer from. Another pro, is that it distributes mining rewards more fairly among the network’s miners.
What Makes Dero Different Compared To Other Crypto Currencies?
Dero was developed from scratch to support millions of users with enhanced reliability, privacy, security and usability. It followed a “build it and they will come” approach where the team focused on designing working technology first, before focusing on marketing.
One of their main features is the CryptoNote protocol, which is used to hide the identity of all the parties involved in a transaction, as well as to protect their privacy. It is also the first blockchain to offer complete SSL in the peer-to-peer layer.
Dero is also fast & efficient, being the first CryptoNote blockchain to have 75 transactions per second using its native blockchain, not applying any scaling solutions such as lightning networks. For some perspective, this is significantly above the five transactions per second that Bitcoin achieves.
The History Of Dero
Dero was launched in December 2017 by a team of three developers. They are anonymous but claim on their website to have over a decade of experience in crypto, with multiple years of experience in blockchain development.
Is Dero A Good Investment?
Between collaborations and innovations, Dero can continue to grow in users and adoption, making it an attractive incentive to hold the coin for the long run.
As you can see on the graph below, the highest that DERO has ever reached is $25.59 back in October 2021, and then a few months later it dropped to below $5. Dero is still at its infancy but it is definitely a project you want to keep an eye on, as it could reach another all-time high in the future.
To stay up to date with the current DERO price data, click here.
Should You Buy DERO Coins?
If you have done research on the team, vision, whitepaper and you are satisfied with what Dero has accomplished so far, then potentially it could be a great investment for the long term. Perhaps invest small, and wait for market direction before buying more.
Cryptocurrencies can be risky, so invest wisely and be careful with your hard earned money. As a rule of thumb, never invest money you can’t afford to lose.
How Many DERO Coins Are There in Circulation?
Dero has a maximum supply of 18.4 million coins.
How Can You Buy DERO Coins?
It’s actually quite easy to buy DERO coins. All you need to do is follow these four basic steps:
- Create an account on a cryptocurrency exchange that lists DERO. Below we share some of these exchanges.
- Complete the identity verification process. Some exchanges require a scan of an identity document such as a passport or driver’s license.
- Transfer money from your bank account to the crypto exchange. The exchange may accept other payment methods, but bank account transfers typically have the lowest fees.
- Once the money is available in your account with the exchange, select the “buy” option to purchase DERO.
Where Can You Buy DERO Coins?
If you would like to purchase some DERO coins, below are a handful of cryptocurrency exchanges which list them.