Keep Network is created to store and encrypt private data on the public blockchain. While the Keep Network consists of off-chain data containers for the private data known as KEEP, it also makes the work token completely permissionless. This network solves the main problem hindering blockchain adoption. The main problem is that data on public blockchains is known to be public. With Keep Network, developers can create completely decentralized applications.
The tBTC token, a Bitcoin bridge on Ethereum, is the first application built on the Keep Network. Keep Network is an open-source project is under support groups like Summa and Cross-Chain Group. tBTC is a fully Bitcoin-backed ERC-20 token pegged to the Bitcoin price. It makes it easy for Bitcoin holders to act on the Ethereum blockchain, access the DeFi (Decentralized Finance) ecosystem, and earn with their Bitcoins.
KEEP is a native work token with dividends and an oblique model. Keep Network provides Sybil resistance which makes it censorship-resistant and unauthorized.
Keep Coin is a crypto money project that is both reliable and set out for specific purposes and has made a name for itself in a while. Keep Coin is essentially a digital currency of the Keep Network. Keep Network stores applications made within the Blockchain network and users in an area for the security of its investors. These stored areas are called off-chain containers. The most well-known feature of Keep Network is the promise of keeping this data confidential.
Because the Keep system has a unique algorithm, it is called tBTC. With this infrastructure, ERC-20 Token gets produced over the Ethereum network. In this way, the Keep Network works in a censorship-resistant and decentralized manner. Keep Tokens are multiplied by the stake.
Keep Token is a US-based project. It got developed by two entrepreneurs, Corbin Pon and Matt Luongo. There are exchanges in the world that buy and sell reliable cryptocurrencies. One of the most popular of these is known as Bitunivex.
Keep Network was founded in 2017 by crypto industry leaders Matt Luongo and Corbin Pon, who previously founded Bitcoin rewards app Fold. Early backers of Keep Network include Polychain, Andreessen Horowitz, Draper Associates, Paradigm, Fenbushi, A.Capital, Collaborative Fund, and ParaFi. Keep Network project employs more than twenty employers, including engineers with experience in discrete mathematics and cryptography and business leadership from ConsenSys founding.
The founder team of DApps (Decentralized Applications) and DeFi (Decentralized Finance) projects should not own the key. Keep Network has off-chain containers for private data, called the KEEP, which creates interaction with Smart Contract-specific data without sacrificing transparency or suitability. In the first application built on Keep Network, tBTC is censorship-proof as it stores data for storage. Every TBTC Token is fully backed and paired with at least 1 BTC held in reserve. Choosing the ‘signers’ tied to ETH and responsible for the BTC deposited makes tBTC which uses Keep’s random marker, unreliable. This matter means that it can convert TBTC to BTC or BTC to TBTC at any time without the need for any broker to log out.
KEEP cryptocurrency gains in value with its service of securing private data. Specifically, KEEP is located on the network and is the only cryptocurrency available for significant network transactions. For example, users who want to provide information must first receive and stake their KEEP tokens with a Smart Contract, so users can get their KEEP tokens back if they act honestly and provide services of sufficient quality.
Stake KEEP allows users to get selected by the network and they are required to deposit more KEEP for each new KEEP that encourages their work. Extra KEEP tokens get rewards if the information providers perform their duties satisfactorily. Users who want to store data in warehouses can pay for this service using KEEP tokens or Ethereum’s native cryptocurrency ETH. Like many other cryptocurrencies, the supply of KEEP tokens is limited, meaning there can only be 1 billion tokens according to the rules of the software.