What is Keep Network?

Keep Network (KEEP) is an incentivized network that strives to store and encrypt private data on the public blockchain. The network is composed of off-chain containers for private data, known as "keeps", and the KEEP work token, which aims to enable the network to operate without permissions. Keep Network aims to address the issue of data privacy on public blockchains, thereby potentially paving the way for the development of fully decentralized applications. The network's native work token, KEEP, aims to provide resistance to Sybil attacks, which may allow the Keep Network to operate without censorship and permissions.

How does Keep Network work?

Keep Network operates through a system of off-chain containers known as "keeps", which store private data. These keeps allow smart contracts to interact with private data without compromising transparency or auditability. The network's native work token, KEEP, is used to secure the network and run the random beacon and ECDSA nodes on the network. KEEP stakers can also play a larger role as tBTC signers by bonding ETH. The first application built on the Keep Network is tBTC, a Bitcoin bridge on Ethereum, which is a fully Bitcoin-backed ERC-20 token pegged to the price of Bitcoin.

What are the potential use cases for Keep Network?

Keep Network seeks to solve the problem of data privacy on public blockchains, which is a significant barrier to the adoption of blockchain technology. By providing a platform for storing and encrypting private data on the public blockchain, Keep Network enables developers to build fully decentralized applications. The network's first application, tBTC, allows Bitcoin holders to act on the Ethereum blockchain, access the DeFi ecosystem, and earn with their Bitcoin. Furthermore, KEEP stakers can secure the Keep Network and tBTC via staking, run the random beacon and ECDSA nodes on the network, and earn fees for providing work on the network.

What is the history of Keep Network?

Keep Network was founded in 2017 by Matt Luongo and Corbin Pon, who are veterans in the crypto industry. The network launched its mainnet on April 27th, 2020, with 1 billion KEEP tokens created. The tokens are a fixed supply asset, indicating that there may not be more than 1 billion KEEP in existence. The Keep Network's early supporters include various entities. The Keep project has a team of staff, including engineers with experience in discrete mathematics and cryptography, and business leadership from its founding days.