Keep Network stores confidential data in keeps outside of blockchain systems. Keeps enable blockchain-based apps to interact with secrets without entirely disclosing their information by using smart contracts, which can deliver data, encrypted files, or verification to the application when certain criteria are satisfied.
Keep suppliers are computers (or nodes) that store keeps and allocate portions of a secret using the random beacon protocol, a sophisticated cryptography approach for trustless randomization.
When a user wants to buy a keep, they file a request to the Keep Network, which splits and mixes their secrets, distributes shares to various keep providers, and returns keys to the users so they may access the content of their keeps whenever they want.
About Keep Network
The Keep Network aims to incentivize a worldwide mainframe to store private data that may be used in smart contracts on public blockchains. Many decentralized applications (dapps) that run on public blockchains, such as Ethereum, rely on private data (such as health records, credit ratings, and financial data) to function.
The KEEP crypto coin adds Sybil resistance to tBTC, making it censorship-resistant and permissionless. KEEP holders can use tBTC to operate a full node, which is equivalent to operating a full node. KEEP stakers are much more important than tBTC signers, as they use both KEEP and ETH to complete their responsibilities. When tBTC signers do their tasks correctly, they are compensated with KEEP crypto tokens. KEEP uses a "burn" concept to pay out rewards on the network.
Keep Network was created to protect privacy and security by encrypting personal information. Keep Network is designed to contribute to the idea of a safe, global, decentralized economy by facilitating security and trustlessness through the use of randomization.
What is Keep Network [KEEP]?
Keep is a blockchain-based incentive network for storing and encrypting sensitive data. The network is made up of keepers, which are off-chain containers for private data, and the KEEP work token makes it entirely permissionless. Keep addresses the fundamental impediment to blockchain adoption: the fact that data on public blockchains is public. Keep allows developers to create fully decentralized apps.
The first application created on top of the Keep network is tBTC, a Bitcoin bridge on Ethereum. Keep, Summa, and the Cross-Chain Group are among the organizations that support it as an open-source project. tBTC is a Bitcoin-backed ERC-20 token that is tied to the Bitcoin price. It allows Bitcoin users to interact with the Ethereum blockchain, gain access to the DeFi ecosystem, and make money with their cryptocurrency.
KEEP is the network's native work token, featuring a cutting model and payouts. It offers the Sybil resistance that allows the Keep network to be both censorship and permissionless.
Who Are the Founders of Keep Network [KEEP]?
Matt Luongo and Corbin Pon, crypto industry veterans who formerly set up the Bitcoin rewards program Fold, founded the maintain community in 2017.
Polychain, Andreessen Horowitz, Draper associates, Paradigm, Fenbushi, A.Capital, Collaborative Fund, and ParaFi are some of the early supporters of the hold community.
Additionally, 20 humans paintings at the maintain venture, together with engineers with great revel in discrete arithmetic and encryption, in addition to enterprise executives from ConsenSys' early days.
What Makes Keep Network Unique?
The Keep Network makes use of keepers, which are off-chain repositories for sensitive data that allow smart contracts to interact with private data without sacrificing transparency or traceability.
Because it utilizes KEEP to save data, tBTC, the first application created on the Keep Network, is censorship-resistant. Each TBTC token is completely backed and matched by a reserve of at least 1 BTC. Keep's random beacon is used by tBTC to choose "signers" who are bound in ETH and responsible for the deposited BTC. This implies you can turn TBTC to BTC whenever you want, with no need to signup for an intermediary.
Where Can You Buy Keep Network [KEEP]?
You may start earning KEEP immediately by staking on the network and adopting our ETH-only stake drop, which will be available shortly. You can also profit by participating in Playing for Keeps, a community-based game that teaches individuals how to stake and gain KEEP by helping others.
KEEP is presently accessible for trading on an increasing number of exchanges, including cryptocurrency and stablecoin pairs. These exchanges are Binance, Mandala Exchange, ZT, Coinbase Exchange, and HitBTC.
Frequently Asked Questions
How KEEP can be used?
Through staking, KEEP can be leveraged to safeguard the Keep Network and tBTC. On the network, execute the random beacon and ECDSA nodes. To execute tBTC as if it were a complete node. By integrating ETH, KEEP stakers can perform an even bigger role as tBTC signers.
How many KEEP coins are there in circulation?
There are 577,034,460 KEEP coins in circulation, with a total supply of 1,000,000,000 KEEP coins.
On what factors the price of the KEEP Network [KEEP] Depends?
Exchange inflows and outflows, technical and fundamental changes, the news cycle, and the overall economic climate are all variables that impact KEEP’s price and market cap.
Conclusion
The Keep Network facilitates public blockchain users and apps to store their confidential data secretly in “Keeps,” which are off-chain containers. Users can stake KEEP tokens to be chosen at random to get rewards by executing network services like encryption or data storage. Thus, we can conclude that Keep Network is very beneficial for its users in terms of data safety and privacy.
Keep Network Official website – https://keep.network/
Keep Network Twitter – https://twitter.com/keep_project
Keep Network Reddit – https://reddit.com/r/KeepNetwork
