The keep network is a platform that transfer, safeguards, and protect the information of public blockchain users by storing their data into off-chain containers called ‘keeps’. Like always, the blockchain faces several challenges limiting its expansion and public adoption and one of such is the user’s privacy. Personal information, cryptocurrency wallet, technological development plans, and other safeguarded information can get to the wrong hands on the public blockchain; thus a need to safeguard them properly.
Keep network comes as the perfect solution as its core was designed with the ability to store and encrypt private data on the public blockchain into ‘Keeps’.
Keeps are decentralized small containers outside the public blockchain network, run by the token holders, and are off-limit to the members and developers of keep for increased safety.
It uses smart contracts to manage the private data and simultaneously conceals it from the public blockchain while being on the blockchain via a threshold Elliptical Curve Digital Signature Algorithm (ECDSA)—which is regularly being audited by top cryptocurrency wallets and exchanges.
Keeps also interact with the necessary cryptocurrency and blockchain networks and provide the necessary information without compromising the user privacy it houses. It also allows users, especially developers build DApps effectively.
KEEP is the governance token of the Keep network and allows its holders have a say in how the network is running. The holders get to delegate and vote on new developments that can put the platform success forward.
Through KEEP, the Keep network gets to incentive their users to participate and stake their tokens to form nodes, which are network points given to users they perform services such as encryption, data storage, or any other services that help secure the network.
Holders can also store their KEEP and stake them to earn rewards or participate in actions that will increase the blockchain’s privacy. KEEP provides a Sybil resistance that allows the platform to be censorship and permission proof.
Due to the ever-consistent efforts by Keep developers to further the usability and functions of the platform, several applications and tools have been developed to facilitate its operation, these include:
- Keep Random Beacon: A tool that published group public keys to the anchoring blockchain and does member selection off-chain and offers a high level of decentralization and reliability.
- tBTC: The first major project and use case of the Keep network was the creation of a tokenized version of Bitcoin, tBTC which can be used on any Ethereum network and application. Each tBTC is backed by 1 equal BTC.
- KEEP dashboard: A user-friendly interface that allows KEEP holders to manage their coins and perform several functions like staking.
- The network stats: Provides the detailed compiled information of KEEPS and tBTC
- All the keeps: An application to monitor all transactions of tBTC on the Keep Network.
Who are the founders of Keep (KEEP)?
Matt Luongo and Corbin Pon are the founders of Keep; they both developed and Co-founded a cryptocurrency shopping app called Fold. Matt is also the CEO at Thesis and serves as the Project Lead at Keep.
What is Keep (KEEP) used for?
Security
KEEP is used to protect the Keep Network through staking done by the token holders.
Run Keep tools and Applications
The inbuilt tools and Applications of the keep can only be accessed and interacted with through KEEP. This means the random beacon, ECDSA nodes, and all other applications require to keep tokens to function.
Stake
KEEP stakers can play a major role by being tBTC signers and stake both KEEP and ETH when performing tasks.
Exchange
Users can
exchange the KEEP for corresponding Ethereum tokens or any Ethereum-based tokens. This shows
transactions are not strictly streamlined to the use of the official utility
token and the immense compatibility it offers.
Reward
When tBTC signers perform their functions properly, they receive fees in form of KEEP tokens.
Governance
As token holders
are the important driving force on the Keep Network and they have bestowed the chance
to implement actions and development by communal agreement. Keep allows users to exercise
their governances through KEEP.
Dividends
Through its unique burn model, keep gets to offer a dividend to KEEP holders
Protection
KEEP provides a Sybil resistance that allows for the permissionless and uncensored use of tBTC.
How Many KEEP Tokens Are There in Circulation?
Keep has a circulating supply of 631,218,707 KEEP coins and a max. supply of 1,000,000,000 KEEP coins.
Is the Keep Network (KEEP) Secured?
Since the Keep Network is designed to ensure privacy and security by keeping private data private through randomness to facilitate security and trustlessness. It is expected to have a high form of security and it does not fail to do so.
The Keep Network employs three independent security audits to ensure tBTC is secure. These audit companies perform routine checks and release the resulting audit on the security of the keep platform.
Keep is also insured and has also publicly encouraged ethical hackers to uncover weaknesses by offering a handsome reward through its bug bounty program.
It has also partnered with over 40 organizations, including aggregators, exchanges, and custody providers to stamp their legitimacy. In terms of finance, it is backed by some big names, such as Draper Associates and Paradigm.
What makes Keep (KEEP) unique?
The ability to safeguard users’ information whilst having access to the blockchain is one unique feature of Keep. It also features uniquely developed containers that collect private data called keeps and operates on its smart contracts deep interactivity without compromising transparency or auditability.
How do I buy Keep (KEEP)?
Keep Network is a new DeFi platform that protects public blockchain users’ information and safeguards them on an off-chain container called Keeps. The keep token offers loads of benefits like Governance rights, staking, earning, and high incentives. Keep tokens can be easily purchased by the following steps.
* Choose a supported exchange and deposit a specific amount of fiat.
* Wait for your deposit to be confirmed and Buy KEEP through your trading account.
Which Cryptocurrency Wallet Supports Keep (KEEP)?
The PTPWallet platform supports many cryptocurrencies simultaneously such as Keep (KEEP). Because of its vast use case, it has grown to become one of the most used platforms as it serves as an exchange and an engine to discover other cryptocurrencies. Additionally, users can easily use PTPWallet as their KEEP wallet because it offers a simple and interactive interface making it easy for people to navigate its system.
