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The Keep Network (KEEP) operates as a second layer protocol that enables the encryption and storage of data on the blockchain. The system bridges the gap between public blockchains and private data in new ways. Additionally, it combines some top features from the DeFi sector to improve partipant's ROIs.
What Problems Does Keep Network (KEEP) Solve?
Keep attempts to solve various issues faced by crypto investors currently. The network's primary focus is privacy. Users enjoy full confidentiality combined with top-notch encryption. Additionally, the decentralized nature of the network removes the single point of failure from the equation.
Enterprise-grade security features keep your data safe from prying eyes when using the Keep Network. The network leverages specially off-chain storage contracts called Keeps. These files remain protected by a secure multiparty computation (sMPC) system. Notably, the network has completed multiple third-party code audits. These audits have been conducted by:
- Consensys Audit
- Trails of Bits Audit
- Sergi Delgado Audit
The sudden rise in DeFi platforms has led to a rise in fraud as well. To avoid losses, it's recommended that you only invest in open source projects. These projects allow the community to see every transaction and function of the protocol. In this way, you can be sure that there is no funny business going on behind the scenes.
The developers behind Keep have shown a dedication to transparency. The team recently made the entire project open source. Consequently, the maneuver makes tBTC among the first BTC bridges with an open-source permissionless signing implementation to hit the market.
Benefits of Keep Network (KEEP)
There are many benefits you can obtain when you join the Keep Network. The platform provides an open infrastructure for autonomous private data on public blockchains. As part of this approach, the developers focused on streamlining generating, securing, storing, encrypting, and transmitting data using the network.
Anyone can secure passive rewards using the Keep Network. The protocol supports multiple staking features. Impressively, users can secure up to 61% APY staking their KEEP.
How Does Keep Network (KEEP) Work
The Keep Network lives on the Ethereum Network. The system leverages the security and proven reputation of the world’s largest Dapp ecosystem. Today, the Keep Network operates as a vital component of Ethereum's Dapp sphere.
Keeps are purpose-built off-chain containers designed to hold private data. They enable contracts to use private data without exposing the data to the public blockchain. Notably, KEEP is available on a variety of top performing DExs and CEXs. Specifically, Uniswap, Balancer, and Kraken carry the token. You can also contribute to liquidity pools and receive, KEEP, the native utility token, as a reward.
The Staking Dashboard provides new and experienced users with an easy-to-navigate interface. The dashboard removes all the technical boundaries from the staking process. You can see your staking balances, tokens locked, and your wallet balance. The platform recently added a liquidity rewards feature to the dashboard as well. This option enables anyone to secure rewards by providing liquidity to a pool.
tBTC is an Ethereum tokenized Bitcoin. tBTC was one of the first secure and decentralized tokenized Bitcoin available on Ethereum. Tokenized Bitcoin provides many benefits to the market. For one, it improves liquidity in the Ethereum market. Additionally, it enables, BTC HODLers to take advantage of DeFi ROI opportunities.
Staking is one of the premier features of the network. Stakers have a variety of ways to participate. They can operate a node directly if they meet the minimum requirements. Currently, you need to hold at least 100 KEEP to operate a full node. For those who can’t meet those requirements, there are still delegation options. You can delegate your crypto to a node operator and receive a share of their rewards in return. Uniquely, users can stake both the minimum KEEP and bond a desired amount of ETH.
Another cool feature of the platform is Stakedrop. Stakedrops are special airdrops dedicated to stakers during a certain time. These rewards can include both KEEP and ETH.
KEEP is the main utility token of the network. Users must hold a certain amount of KEEP to participate in any of the data encryption features of the platform. You can also stake KEEP to secure extra rewards.
The Keep Network is all about encouraging further development from the community. The network features a section that is packed with libraries, stats, and other design tools to get you creating Dapps in no time. This approach is smart because it enables the community to improve the user experience.
History of the Keep Network (KEEP)
The Keep Network (KEEP) entered service in 2017. The platform is the brainchild of Matt Luongo and Corbin Pon. Notably, Pon was one of the co-founders of the crypto shopping Dapp Fold. Since its launch, the network has continually secured strategic partnerships. Today, Keep has over 40 organizations, aggregators, exchanges, and custody providers as part of its vast network. Additionally, the platform has strong financial support from Draper Associates and Paradigm.
Keep and NuCypher Network
The Keep Network and another popular cryptocurrency, NuCypher, announced a strategic network merger recently. Interestingly, the firms have decided to merge networks to improve decentralization and security. Notably, the companies will remain separate entities in terms of business operations. As such, they will also retain their respective tokens. The goal of the merger is to enable NuCypher to enjoy tokenized Bitcoin, while Keep will benefit from NuCypher's larger network.
Buy Keep Network (KEEP)
Keep Network (KEEP) is available on the following exchanges:
Kraken – Founded in 2011, Kraken is one of the most trusted names in the industry with over 9,000,000 users, and over $207 billion in quarterly trading volume.
The Kraken exchange offers trading access to over 190 countries including Australia, Canada, Europe, and is our most recommend exchange for USA residents. (Excluding New York & Washington state).
Keep it Private with the Keep Network (KEEP)
The developers behind the Keep Network were wise to focus on privacy and security. There has been a considerable increase in data breaches as of late. These hacks have cost consumers and businesses billions in lost revenue. Now, there is a viable, decentralized alternative in the market. As such, you can expect to hear more from the Keep Network in the coming weeks.
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