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Smart contracts are probably the most important product that was ever invented on the blockchain. As most people likely know, credit for that goes to the Ethereum network. In developing smart contracts, Ethereum has changed the direction of the crypto industry. It demonstrated that blockchain technology can be a lot more than just distributed ledger for recording transactions. And, as a result, the era of blockchain products started.
In the past 7 years since smart contracts first emerged, the crypto world has seen a dramatic change. Countless new blockchain products were invented, all of them depending on smart contracts to work and remain decentralized. Things like dApps, DeFi, NFTs, metaverse, stablecoins, token models, and a lot more became available.
Becoming an integral part of the crypto industry, smart contracts are now a part of more and more platforms, and some of them have trouble keeping up with all of the tasks that need to be done, which led to the practice of outsourcing some of the work. In order to help with that, Keep3rV1 (KP3R), also known as Keeper Network, emerged and started offering its services.
So, if you are wondering how does this project help, what does it do, and what problems does it solve — that is what we will talk about today.
What Problems Does Keep3rV1 (KP3R) Solve?
As mentioned Keep3rV1 is a platform that aims to help struggling projects, and it can only do that if it is capable offering solutions for existing problems. So, what problems does that involve?
Helps the projects that require large numbers of smart contracts
Keep3rV1’s goal is to help reduce the upkeep that many blockchain-based projects face due to the fact that they rely on large numbers of smart contracts. An excessive amount of smart contracts — arguably more that the project can afford to handle — might seem unnecessary, but that is not the case. These days, the blockchain industry is more developed than ever, and there are many projects whose systems have grown to be extremely complex.
When this happens, they need to start relying on external actors to complete various tasks, and Keep3rV1 emerged as a decentralized ecosystem where projects and developers can find one another and work together on solving issues more efficiently.
Basically, Keep3rV1’s goal is to attract project seeking for assistance and experienced developers, who are capable of helping them out. After that, the project essentially becomes a job board, where the projects can describe what they need, and interested devs can commit to taking on a contract and ensuring that the job that needs to be done gets done.
Benefits of Keep3rV1 (KP3R)
While solving larger issues is something that gives a project its value, it also needs to reward its users with certain benefits in order to attract them. With that said, let’s take a look at some of the perks that make this project worth looking into and engaging with.
Rewards for acting as a Keeper
As mentioned, Keep3rV1 is a registry created to match organizations with tech experts who could help them by taking over a portion of the smart contracts’ tasks. These entities are known as Keepers within the project’s ecosystem, and they can be external persons or teams, and even bots that can execute (usually) autonomous tasks. In this context, said task is considered a “job,” and it can be as simple as calling a transaction or as complex as requiring extensive off-chain logic.
In order to become a Keeper, one needs to “bond” with a job. The benefit for the Keepers is that they receive rewards in the form of the project’s native KP3R token for successfully completing jobs.
Getting help with projects
On the other hand, if you are a part of the team that runs a network, and you need to outsource jobs to Keepers, then Keep3rV1 is the right place, as it is trusted by expert developers and development teams who know how to do these jobs. You can also set up your own criteria regarding who will be selected for the job, such as requesting that the Keeper has a specific minimum bonded stake of KP3R, or that they already have a specific number of successfully completed jobs behind them.
Finally, the project’s users also get to join the project’s community and help with the project’s governance. As is the case when it comes to many other projects, KP3R holders can vote on proposals that other community members are submitting in order to help decide which proposals should be adopted and implemented, and which do not benefit the project.
Of course, those who have ideas can create proposals themselves, and have the community vote on them, as well.
How Does Keep3rV1 (KP3R) Work?
Keep3rV1 is a decentralized platform designed to enable the coordination between projects that require outside help and entities that can provide that help. Basically, it is a job board where projects that have too many smart contracts for their teams to handle can find expert developers who can take over some extra work in order to help. In exchange, they receive rewards in the project’s native KP3R token for every successfully completed job.
These entities — individuals or teams — that provide a helping hand, are called Keepers. The jobs that they are required to do can be simple enough that even bots can do them, or very complex, which require an entire team of people in order to handle them. In essence, Keep3rV1 was developed to help out the blockchain industry run more smoothly, and help individual projects that have grown to be too complex for their teams to handle to obtain some additional help when there is a need.
How to Buy Keep3RV1 (KP3R)
Keep3RV1 (Kp3R) is currently available to purchase on the following exchanges:
Uphold – This is one of the top exchanges for United States & UK residents that offers a wide range of cryptocurrencies. Germany & Netherlands are prohibited.
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 a top exchange for USA residents. (Excluding New York & Washington state).
Keep3rV1 (KP3R) — The leading project for sourcing external developments
Keep3rV1 is a type of project that aims to provide technical support, almost, to those who require help with performing tasks within their own networks. As such, it is almost a platform where freelance developers can find temporary employment and receive payments in the project’s native cryptocurrency. With the blockchain industry becoming more and more complex, it is likely that more and more networks will require such services going forward, which is why we expect to see a growth in demand for tokens such as KP3R moving forward.
Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.
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