In this article, we tried to answer questions such as what is KEEP coin, what is the cryptocurrency Keep Network (KEEP), how to buy KEEP coin. Here are the KEEP coin comments and details about its future…
How much is KEEP Coin?
According to current crypto money market data, 1 KEEP Coin 5.34 TL is traded at TL. KEEP Coin price changed from to 6.59% in the last 24 hours. The trading volume of KEEP Coin in the last 24 hours is 377,074 $ dollars, and its total market cap is 212,478,754 $ dollars.
How much is KEEP Coin?
According to current crypto money market data, 1 KEEP Coin 0.357595 $ is traded at $.
What is KEEP Coin?
Keep Network is software that aims to incentivize a global network of computers to store private information that can be distributed on public blockchains via smart contracts.
Many decentralized applications (dApps) running on public blockchains such as Ethereum require the use of private data (such as health records, credit scores, and financial information) in order to operate.
To protect individual user’s privacy, Keep Network provides “keeps” storage of private data outside the blockchain, which are containers that allow smart contracts to manage and use parts of the stored data without exposing them to the public blockchain.
To run a block, nodes must stake KEEP tokens, the Keep Network’s native cryptocurrency, which will be selected by the Keep Network. These nodes are given KEEP for successfully maintaining their protection.
The first application built on Keep Network is tBTC, which acts as a bridge between Bitcoin and Ethereum. Bitcoin holders would deposit their BTC funds into a smart contract and receive tBTC, an Ethereum token with equivalent BTC value used to access various applications on the Ethereum blockchain.
Who Created the Keep Network?
Keep Network was founded in 2017 by Matt Luongo and Corbin Pon. They previously founded Fold, a bitcoin shopping app, in 2014.
Keep Network sold $20 million worth of KEEP tokens in two rounds in private sales to investors including well-known venture capital firm Andreessen Horowitz and prominent crypto investors Polychain Capital, Fenbushi Capital and Paradigm.
How Does Keep Network Work?
The main feature of Keep Network is the ability to store private data called secrets in enclosures outside of blockchain systems.
Keeps allows blockchain-based applications to interact with secrets without fully revealing their content, through the use of smart contracts that can provide the application with data, encrypted files, or authentication of a user when a certain criterion is met.
Computers or nodes guarding the enclosures are known as custodians and are assigned fractions of a secret using the random sign protocol, an advanced encryption technique for unreliable randomization.
When a user wants to purchase a hold, they issue a request to the Keep Network, which splits and mixes their secrets, sends their shares to different storage providers, and returns the keys for users to access their content.
Keep providers must stake a certain amount of KEEP that can be received by the protocol if they are untrustworthy or negligent towards the holds. However, the providers were incentivized through KEEP awards for their services, including providing encryption, computing and storage services.
Keep Network (KEEP) Coin Review and Future 2022
The KEEP cryptocurrency derives its value from its ability to secure private data.
Specifically, KEEP is built into the network itself and is the only cryptocurrency available for important network transactions.
For example, users who want to become providers must first acquire and stake their KEEP token in a smart contract and can be withdrawn if they act honestly and provide services of sufficient quality.
Stake KEEP allows users to be randomly selected by the network, and once selected, they must deposit more KEEP for each new hold they help work. Providers are compensated with additional KEEP tokens if they perform their duties satisfactorily.
Note, users who want to store data in warehouses can pay for this service using KEEP tokens or Ethereum’s native cryptocurrency, ETH.
Like many other cryptocurrencies, the supply of KEEP tokens is limited, meaning there will only be 1 billion tokens according to the rules of the software.
Keep Network can be attractive to developers who want to build blockchain-based applications that require access to private data.
As a result, users who want to securely store private information may also be interested in using Keep Network’s services.
Investors may wish to add KEEP to their portfolios if they believe in the future of secure, private, computational data storage on blockchains to be accessed by smart contracts.
Users may also be interested in KEEP if they want to use Bitcoin assets for exposure to Ethereum’s decentralized finance (DeFi) tools.
