Keep network KEEPPrice $ 0.0328

Keep Network is a second-layer protocol for Ethereum that enables the storage and encryption of private data on the public blockchain while ensuring ultimate security and confidentiality. It is the network behind tBTC, the first secure and distributed tokenized Bitcoin to live on Ethereum. 

Essentially a bridge between public distributed ledgers and encrypted confidential data, the Keep system consists of off-chain containers (named Keeps). These Keeps are responsible for ensuring smooth and safe interaction between smart contracts and private data. Keeps are randomly assigned to a group of network users (known as signers) who store and manage the data containers. 

Keep Network is designed to provide privacy and security by keeping personal data strictly confidential. Using randomness to create security and distrust, Keep Network helps to promote the concept of a secure, global, decentralized economy.

KEEP is Keep Network's native utility token playing key roles in the system’s governance, staking, and incentivization events. The chart on this page reflects the current market price of KEEP. 

How Does Keep Network [KEEP] Work?

Keep can be viewed as an incentivized network for the storage and encryption of private data on the public blockchain.

Keeps are the foundation of the Keep network. The network uses private enclaves known as "Keeps" to securely encrypt and store private data (the network calls pieces of private data “secrets”). Offline storage is safeguarded with the help of secure multi-party computation (sMPC). This enterprise-grade security feature generates, protects, holds, encrypts, and transfers data across the network users.

The system features the next primary elements working in conjunction:

Random Beacon Node. It is a decentralized random selection tool. It assigns signers from a pool in a cryptographically secure and distributed manner. Random Beacon Node acts as a BLS threshold relay and cannot be manipulated or cheated. This is a reliable source of randomness for the procedure of trustless signer selection.

Signer. It is a network member who helps to store and operate off-chain vaults (private data storage containers aka Keeps).

Data containers or Keeps. They are off-chain storage vaults for private data. Keeps allow smart contracts to handle and use confidential information “secrets” without making it exposed to a public ledger.

Keep [KEEP] Network aims to solve various problems that crypto investors are currently facing. The protocol’s primary focus is privacy. Users are provided complete privacy that is combined with high-end encryption. Moreover, the decentralized nature of Keep Network removes a single point of failure from the equation.

The mission of the project is to make it possible for users and applications to store sensitive information (such as private keys or other valuable financial information) in small, autonomous containers called "Keeps" that are both decentralized and closed to participants of the Keep team. Keeps allow contracts to manage and use private data without exposing its contents to the public ledger through the Elliptic Curve Threshold Digital Signature Algorithm (ECDSA), which is verified and used by the world’s largest crypto wallets and exchanges.

The first decentralized application to be built on top of Keep Network is tBTC. tBTC is a secure and permissionless bridge between Bitcoin and Ethereum. The tBTC project is the only decentralized BTC solution on Ethereum that is fully verified and insured. Bitcoin users deposit their BTC assets to a smart contract in exchange for tBTC, an ERC-20 token that is a full equivalent to the BTC value. The keys to Bitcoin in tBTC are stored in Keeps, where they cannot be accessed by the public blockchain. tBTC allows for accessing various decentralized applications and services within the Ethereum ecosystem.

Users, who are willing to operate data containers “keeps”, must stake KEEP tokens to be then elected by the Keep Network. These keep operators are rewarded with KEEP tokens for successfully maintaining data vaults. Keep operators can be retrieved of their stake should they misbehave or be negligent with the data containers. However, responsible operators are paid with KEEP tokens for their efforts, including providing encryption, computation, and storage services.

What is the KEEP Token?

KEEP is The Keep Network's native token. KEEP serves many essential functions within the system. 

Governance. KEEP token holders are allowed to vote on network management and modification proposals.

Staking. Participants can choose to stake their KEEP coins on the platform dashboard or delegate their KEEP tokens to a staking provider. Along with staking, members may bond ETH on top of their KEEP staking positions for greater yields. Stakers receive rewards in both ETH and KEEP for staking on the Keep network, depending on how many KEEP tokens they wager and ETH they bond. Currently, these rewards can be up to 200% APY for Keep stakers. Pay attention that users' staking positions may get retrieved by the protocol for signing group misbehavior, which will lead to slashing.

Network maintenance. Users may operate nodes to help maintain the protocol and get compensated in crypto for their contributions.

Where to Buy KEEP Crypto?

You can purchase KEEP tokens on a crypto exchange. KEEP is listed on Uniswap, Balancer, and Kraken. You can also contribute to liquidity pools to get rewarded with KEEP cryptocurrency.

Where to Store KEEP Token?

KEEP is an ERC20 token hosted on the Ethereum blockchain. This means that KEEP tokens can be stored on a wide range of wallets, both hardware and software, that support ERC20-standard cryptocurrencies. Some of the best solutions to store your KEEP token assets are hardware wallets Ledger and Trezor. As for software options, you may consider Trust Wallet, Atomic Wallet, and MyEtherWallet.