Discreet was a passion project born out of a sincere desire to build the cryptocurrency we had always wanted to exist, to fill a sizable gap in the current market.

Namely, a legal and institutional-friendly digital currency, with total regulatory compliance, that nevertheless featured robust optional privacy controls to mimic (and improve upon) the features inherent in fiat-based personal finance. With cutting-edge cryptography, programmability, incredible speed, and a novel ch-DAG consensus algorithm, we came very close to achieving our goal, as demonstrated with our various stages of testnet.

After three years of active development, the regulatory landscape continued to evolve in a direction that was decidedly hostile towards layer-one chains with privacy-enhancing technologies. Ultimately, the funds raised for development were not enough to sustain the project, and so with heavy hearts we place Discreet on indefinite hiatus. Efforts to find institutional backing that would allow us to continue development have failed. Uncertainty and discrepancy in future global legal frameworks for crypto makes any investment inherently too high-risk.

In the meantime, because we are proud of the work we completed, and because we did build the foundation for our dream cryptocurrency, we are hereby releasing our source code to the community to remix and reuse, or continue to build upon.

You can start building your own vision of Discreet, using the repositories found on our Github.

We are grateful to the community that rallied behind the same dream, and we hope another team can draw inspiration from, or reuse the novel technology we have created over the last three years.

Sincerely,

Discreet

04/09/2024