Keep Network

What is Keep Network (KEEP)?

Keep Network (KEEP) is a privacy-focused cryptocurrency project that enables secure storage and transfer of private data on public blockchains. Launched in 2020, Keep Network serves as a bridge between the privacy offered by traditional systems and the transparency of blockchain technology. The KEEP token is the native digital asset that powers the entire Keep Network ecosystem.

How Does Keep Network (KEEP) Work?

Keep Network operates through a system of "keeps" - off-chain containers that store private data separate from the public blockchain. The network relies on multiple types of keeps:

• Random Beacon: Generates verifiable random numbers to ensure fair distribution of tasks among node operators
• tBTC: A system that creates a trustless bridge between Bitcoin and Ethereum, allowing Bitcoin holders to access Ethereum's DeFi ecosystem without surrendering custody
• Secret Keeps: Secure containers for storing sensitive data while still making it usable for smart contracts

The network is maintained by node operators who run the necessary infrastructure to create and maintain these keeps. These operators stake KEEP tokens as collateral, ensuring they act honestly within the network.

KEEP Staking and Node Operation

Yes, Keep Network (KEEP) offers staking opportunities for token holders. Staking works through the following mechanisms:

• Node Operation Staking: Users can stake KEEP tokens to operate nodes on the network and earn rewards for providing services
• Delegation: KEEP holders who don't want to run nodes themselves can delegate their tokens to existing operators and share in the rewards
• Random Beacon Staking: Node operators can stake tokens specifically to participate in the random beacon generation process
• tBTC Staking: Operators can provide collateral in KEEP to back tBTC minting operations

The annual percentage yield (APY) for staking varies based on network participation and demand for services.

Mining on Keep Network

Keep Network doesn't use traditional mining like Bitcoin or other proof-of-work cryptocurrencies. Instead, the network secures itself through its staking mechanism and the economic incentives that encourage honest behavior from node operators. The KEEP token was pre-mined at launch with a fixed supply.

What is KEEP Used For?

The KEEP token serves multiple crucial functions within the ecosystem:

• Staking Collateral: Node operators stake KEEP to participate in network operations
• Work Payment: KEEP tokens are used to compensate operators for maintaining keeps and performing network services
• Governance: KEEP holders can participate in decentralized governance decisions about network upgrades and parameters
• tBTC System: KEEP is used as collateral in the tBTC system, which allows Bitcoin holders to mint tBTC tokens usable on Ethereum
• Fee Payment: Various operations within the network require payment in KEEP tokens

KEEP Token Distribution

When Keep Network launched, the KEEP token was distributed as follows:

• Team and Advisors: 20% of the supply with various vesting periods
• Investors: 35% allocated to early backers of the project
• Network Operations: 18% reserved for incentivizing network participation
• Ecosystem Development: 15% for grants, partnerships, and growth initiatives
• DAO Treasury: 12% controlled by the project's decentralized autonomous organization

The initial token sale occurred in April 2020, with a total supply capped at 1 billion KEEP tokens.

Additional Information About Keep Network (KEEP)

Keep Network merged with NuCypher in 2021 to form the Threshold Network, creating a more comprehensive privacy solution for decentralized applications. The merger created a new token, T, while allowing KEEP holders to convert their tokens to the new standard. Despite this merger, KEEP tokens still maintain utility within the original Keep Network infrastructure.

The project's focus on privacy-preserving computing makes it one of the leading solutions for bringing confidential data to public blockchains. Its tBTC application particularly stands out as it enables Bitcoin holders to participate in Ethereum's DeFi ecosystem without trusting centralized custodians.

If you're interested in trading KEEP, you can easily do so on any exchange that lists the token using Cryptohopper's automated trading bot. Cryptohopper provides an efficient way to implement trading strategies for KEEP and other cryptocurrencies without needing to constantly monitor the markets yourself.