Privacy and security-focused blockchain platform Deeper Network has won an award at the inaugural Polkadot hackathon event.
As well as winning the prize for the “Most Affected Communities Welcomed” award, the team at Deeper Network was a runner-up in the main event, walking away with a share of the 40,000-yen prize pool.
The news comes as the Deeper Network project is set for a much anticipated initial DEX offering on three launchpad platforms:
- Paid Network — April 5
- Poolz — April 5
- Tokensoft — April 8
The sales will provide both public and private investors the chance to get involved in the project with an early stake in its future.
Thanking the community for its support during the hackathon, the team tweeted:
“Thank you to our community members, you guys were awesome!”
Web 3.0 vision
Deeper Network is built on the vision of providing a more secure, private and fairer internet for everyone, based on Web 3.0, and elevating the privacy benefits of using a virtual private network to a decentralized alternative, a decentralized private network.
The aim of the DPN, having been created by Deeper Network, is to avoid the inherent pitfalls of VPNs — that is, being vulnerable to attacks that target a centralized service as its single point of attack.
Using a DPN eliminates the single point of control and the single point of failure, which is inherent to all VPNs on the market. Furthermore, since the service is distributed, it would be impossible to shut down a DPN as you would a centralized VPN service. DPNs are designed so that user data can never be logged, hacked or subpoenaed.
To make this a reality, the Deeper Network has also developed its own operating system, adaptive tunneling, intelligent routing, IP multiplexing and tunnel layer congestion control. Here, we take a deeper look into some of the unique elements and technologies that make decentralized private networks a possibility.
A deeper understanding
There are two layers in the Deeper Network blockchain. The top layer consists of hundreds of validator nodes like any other blockchain. The bottom layer, also called the deeper layer, consists of millions of deeper devices. These devices earn credits by providing services in the deeper network, such as by sharing bandwidth.
The consensus mechanism is similar to proof-of-stake, but a validator’s voting power depends on both staked tokens and delegated credit scores. The top layer is secured by the credit scores of deeper devices.
The more people who are involved in deeper services, the more secure the network will be. The mining reward distributed to deeper devices incentivizes more people to participate in deeper services.
To participate in the Deeper Network public sale, please visit the Deeper Network website.