What is KeepNet? All information about Keep Network and token KEEP

• Keep Network overview
• What is KeepNet?
• Basic Features of Keep Network
• The advantages of using Keep Network
• The team of developers, advisors, investors of the Keep Network project
• Overview of the KEEP . token
• What is KEEP token?
• Some basic information of KEEP . token
• Allocation of KEEP . tokens
• KEEP Token Allocation Schedule
• KEEP token reduction events
• Where can KEEP tokens be bought and sold?
• The future of Keep Network and should I invest in KEEP tokens?
• summary

Keep Network overview

What is KeepNet?

Keep Network is a platform that connects, stores, and encrypts personal data on public blockchains. The network is made up of off-chain data storage blocks called “Keeps”. To operate these blocks, investors must stake KEEP on the system to become a Signer – the person chosen to perform work on the Keep Network.

Currently, data stored on public blockchains is completely public. Keep Network is designed to make it possible for users to store data on those blockchains while ensuring their privacy. Thereby, smart contracts can exploit the full application advantages of blockchain technology without compromising its transparency and trustworthiness.

In addition, Keep Network has partnered with Summa and Cross-Chain Group to provide a Bitcoin-to- Ethereum bridge called tBTC. This is the first application built on the Keep Network. This application will have a token of TBTC that carries the ERC-20 standard and is supported by Bitcoin and tied to the actual price of BTC. It enables Bitcoin holders to operate on the Ethereum blockchain, while accessing the DeFi ecosystem and making money with their own Bitcoin.

Basic Features of Keep Network

As mentioned, the Keep Network uses off-chain blocks of personal data storage called “Keeps”. Thereby, the platform helps smart contracts to interact intensively with personal data without affecting the transparency or auditability of the system.

Some cases where Keep Network can be used:

Firstly, the Keep Network can be used to confirm decentralized transactions on the main blockchain. Each participant who confirms the transaction will ensure the reliability of the transaction and other data.

Second, this network has the ability to set the "Dead Man Switch" key to automatic mode based on the initial settings. That allows users to open and close the project's blockchain data retrieval as needed.

Third, users can use Ethereum's Smart Contract to create a personal wallet to exchange crypto assets between various blockchains such as Bitcoin, Litecoin, Dash, etc.

Fourth, Keep Network can be used to create a digital product marketplace. With this marketplace, users can buy and sell products like e-books, videos, MP3s and more.

Finally, Keep Network facilitates smart contracts and decentralized autonomous organizations (DAOs) to store private information and data through the network's bridge. The platform uses MPC systems of complex cryptographic algorithms to ensure the privacy of users' data.

In addition, a first bridge application built on top of the Keep Network, tBTC, is censorship resistant because it uses “Keeps” to store data. The tBTC bridge application does not need to trust an individual or organization, allowing users to convert TBTC to BTC and vice versa, at any time that the user wants and without the consent of an intermediary. Tuesday.

Keep Network functions and tools include:

• Network's Random Beacon function
• tBTC is a decentralized Bitcoin bridge on Ethereum
• KEEP token dashboard for staking management and support
• Keep Network's statistics function
• The All The Keeps app helps monitor all tBTC deposits on this network

The advantages of using Keep Network

Designed as a security solution

The core advantage of Keep Network is its ability to store private information, such as Private keys. Those data and information are stored in blocks containing off-chain data called “Keep”. This helps to keep the data safe because no one has access except the owner. 

Keep Network uses an elliptical curve digital signature algorithm (ECDSA), which allows smart contracts to manage and use private data without exposure to the public blockchain. Thereby, users no longer have to worry about personal data being leaked.

Keep Network uses random method to choose Signer on tBTC

Keep Network's Random Beacon feature is a mechanism that selects the Confirming Signer for deposits on tBTC. This mechanism requires that all parties will need to agree with each other to know the amount of tBTC being minted and the identity of the depositors. Signing groups must ensure that their identities remain private until the time they are selected by random beacons. This feature ensures that the Signers cannot collude to steal user funds or attack the network.

Benefits of the KEEP . token

The KEEP token provides Sybil resistance allowing tBTC to be censorship resistant and permissionless. KEEP holders can launch tBTC, similar to running a full node. KEEP stakers will have the right to operate the off-chain data storage block. When the Signers perform their functions properly, they will receive fees in the form of KEEP tokens. 

The team of developers, advisors, investors of the Keep Network project

Development team

Keep Network was founded in 2017 by Matt Luongo and Corbin Pon. These are 2 veteran members who hold the leadership role of Keep Network. Previously, the two co-founded a Bitcoin rewards app called “Fold”.

In addition, the Keep Network project has the participation of more than 20 members, including engineers with extensive experience in mathematics, cryptographic algorithms, etc.

Advisory team

John Packel : He is the developer of ConsenSys – a system of blockchain business solutions.

Joseph Urgo : He is a developer of district0x – a blockchain platform that allows projects to interact with each other. 

James Prestwich : Previously, he worked for Storj Labs – a research and product development company in Atlanta, Georgia.

Luis Cuende : He is the developer of Aragon – a platform that provides modules for creating and managing DApps, cryptographic engines, and decentralized autonomous organizations (DAOs).

Investors

Keep Network has gone through three rounds of funding and raised $7.7 million. With the participation of venture capital funds such as Polychain Capital, Andreessen Horowitz, Draper Associates, Paradigm, Fenbushi, A.Capital Ventures, Collaborative Fund, ParaFi...

Partner

Dfinity is Keep Network's first partner. On GitHub there will be a common repository and users can follow the interaction between the two development teams quite clearly. In the near future, it is likely that they will join together to put the Keep Network on the Dfinity network. Additionally, according to unconfirmed reports, the Keep Network team is developing two forks of Dfinity. 

Keep Network's second partner is Lendroid. This project is a decentralized blockchain platform for margin trading, using the 0x protocol.

Overview of the KEEP . token

What is KEEP token?

KEEP is an ERC-20 standard work token. Service providers in the ecosystem need to hold KEEP tokens and use them as collateral for algorithmic encryption and data storage services. They can also stake KEEP tokens to increase their chances of being selected by Keep Network to become a Signer. When the Signers perform their functions properly, they will receive fees in the form of KEEP tokens. In addition, KEEP also has some functions as follows:

• Secure the Keep Network and tBTC system through staking
• Launching random beacons and ECDSA nodes on the network
• Launching tBTC is similar to a full node
• Operate off-chain data storage blocks through staking

Some basic information of KEEP . token

• Ticker: KEEP
• Blockchain Network: Ethereum
• Circulating Supply: 601,921,365 KEEP
• Total Supply: 1,000,000,000 KEEP

Allocation of KEEP . tokens

• Private Sale: 35%
• Staking & Protocol Incentives: 25%
• Keep SEZC: 25%
• Early team: 10%
• Advisors: 5%

KEEP Token Allocation Schedule

Private sale for KEEP stakers

The Keep Network team sold a total of 322,882,336 KEEP in two rounds of Private Sale. During the first Private Sale, investors can receive additional bonus tokens ranging from 20% - 50% of KEEP tokens depending on the chosen lockout period (from six months to two years). The longer the lock time, the bigger the bonus. The second sale requires a KEEP lock-up period of one year, investors can receive 20% bonus. Of the totals distributed through these sales are:

• 50,638,076 KEEP will unlock in 6 months
• 47,168,287 KEEP will unlock after one year from the date of distribution
• 225.075,973 KEEP will unlock after two years from the date of distribution

Section for Keep Network's development team, partners and SEZC

Keep Network will allocate 390,598,594 KEEP to team members and advisors, associates, vendors and SEZCs who hold shares of Keep Network.

• Vendors and associates receive 851,917 KEEP, which will be amortized from six months to two years.
• The advisory team and the team initially received 139,746,677, which will be paid in installments after two years and come with a stipulation period restricting the right to use KEEP tokens within 4 years.
• Keep Network SEZCs received 250,000,000 with no allocation schedule or token lockout period.

Public distribution

The Keep Network team plans to distribute up to 20% of the KEEP supply (200,000,000 KEEP) during the public Stakedrop event on June 8, 2020. Stakedrop allows users to stake their ETH in exchange for KEEP tokens as a reward. After 6 months, event participants were able to stake KEEP to continue earning rewards. The event can last up to 24 months with most of the rewards awarded in the first six months.

The project also deducts an additional 5% of the KEEP supply (50,000,000 KEEP) to reward on-chain tBTC liquidity providers to help incentivize the growth of the tBTC ecosystem.

The exact timing of KEEP distribution public events will not be fixed. Therefore, the liquidity supply curve here is just a reward simulation model created by Bison Trails.

KEEP token reduction events

All KEEP supply was minted when the Keep Network team deployed on Ethereum mainnet. Therefore, KEEP does not have an inflation model from the creation of new tokens. But the maximum supply of KEEP can decrease over time through the form of cuts. In order for a cut-off event to occur when a signer on the network acts against the rules, a portion of that person's KEEP tokens will be burned forever. 

Where can KEEP tokens be bought and sold?

Investors can earn KEEP by staking tokens on the network today and gain access to the system's ETH Stakedrop reward program. In addition, you can also earn money by participating in the Playing for Keeps program, which allows people to learn how to stake and have a chance to receive rewards in KEEP tokens. 

Currently, KEEP is being traded on exchanges such as: Uniswap , Matcha, Curve, Balancer, Kraken, Binance , Mandala Exchange, KuCoin, Coinbase Exchange, Gate.io.

The future of Keep Network and should I invest in KEEP tokens?

On April 12, 2021, the Keep Network project published details of the second throttling of the tBTC bridge application. This time around, tBTC is expected to adjust the requirements that currently apply to shareholders. Specifically, investors only need to key KEEP instead of both Keep and Ethereum (ETH) tokens, along with changes to its wallet generation mechanism. tBTC will allow users to tokenize their Bitcoin (BTC) for use on the Ethereum network.

The dev team admits that they have learned a lot since tBTC's second mainnet launch in September 2020. Within days, the app was down for a short period of time, after a bug was discovered in its redemption codes. After that, Keep Network struggled to scale and regain users' trust.

Despite being backed by venture capital giant A16z and other big names, Keep Network's tBTC bridge has not achieved the expected number of DeFi users, with a circulating supply of just 1,293 TBTC, according to the report. CoinGecko.

According to the latest information, the development team for Keep Network and NuCypher is preparing plans for an on-chain merger in a preferred network for Ethereum. To determine the future and success of a security protocol, the community will need more time to evaluate. Thereby, it can be seen that this project always strives to create products with the desire to meet the needs of investors.

Some official information channels of the project that investors can follow are:

Website | Twitter | Telegram | Reddit | Discord 

summary

Keep Network is designed to ensure privacy and security by keeping private data private. By using randomness to facilitate security and without permission, Keep Network is built to help continue the vision of a secure, multinational, and decentralized economy. With the above information, hopefully you have been able to judge the potential of the project in the future to make the right investment decision for yourself.

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