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Keep Network
About Keep Network
The KEEP token is the native token that powers the Keep network, and is required for membership. Members perform work on the platform and earn rewards, including participating in a distributed key generation protocol that produces a public key for the group. KEEP is a work token, and holding it confers the right to perform key functions on the network. Token holders must delegate a minimum amount of KEEP as collateral to be eligible for work opportunities, which are awarded randomly but over time are proportional to the amount of KEEP delegated. The more KEEP held, the greater the benefit conferred to the token holder.
Keep Network (KEEP) is a privacy-focused protocol designed to facilitate the secure storage and encryption of data on public blockchains. The primary feature of the Keep Network is its off-chain containers known as "keeps," which allow for the private storage and computation of data, providing a secure way to manage private information without exposing it on the blockchain. The network aims to bridge the gap between public blockchains and private data by leveraging these off-chain keeps.
Keep Network is utilised primarily for enhancing privacy and security in blockchain applications. Its most notable application is the tBTC project, which provides a trustless, permissionless bridge between Bitcoin and Ethereum, allowing Bitcoin holders to participate in Ethereum’s decentralised finance (DeFi) ecosystem. By using keeps, tBTC ensures the secure custody of Bitcoin while representing it as an ERC-20 token on the Ethereum blockchain. This integration enables the use of Bitcoin in smart contracts, DeFi platforms, and other Ethereum-based applications without compromising privacy or security.