Keep Network (KEEP): In Exploring Cryptocurrency

In the world of cryptocurrency, there are many different projects, and Keep Network (KEEP) is one of them. It may be new to some people, but it has been around for a while. Keep Network is a decentralized network that allows for the custodianship of digital assets on Ethereum. In this article, we will explore Keep Network and what it has to offer.

History of Keep Network (KEEP)

Keep Network was founded in 2017 by a team of experienced developers and researchers. The Keep Network team is dedicated to building infrastructure for the decentralized web. Keep Network’s mission is to enable people to securely interact with decentralized applications (dapps).

The Keep Network team is composed of experienced developers from different industry backgrounds including Google, Facebook, and Ethereum. The Keep Network Foundation is advised by some of the leading experts in the field of cryptography and security including Vitalik Buterin, co-founder of Ethereum, and Vlad Zamfir, creator of the Ethereum Casper consensus algorithm.

In 2018 a lot of progress was made, Keep Network released the KeepToken (KEEP), launched the Keep Browser Extension, and introduced the Keep SDK. Keep Network also partnered with ShapeShift, one of the leading cryptocurrency exchanges.

In 2019 Keep Network continued to make progress, they launched Keep Ethereum Bridge, which allows for the transfer of value between Ethereum and other blockchain networks.

What is Keep Network (KEEP)?

Keep Network provides a way to securely interact with decentralized applications (dapps). Keep Network also allows for the transfer of value between Ethereum and other blockchain networks.

Private data, or “off-chain” data, is data that is not stored on the Ethereum blockchain. Keep Network allows for the private data to be stored on private data called “off-chain” in a secure and decentralized manner. Keep Network uses “Keeps” to store the private data. Keeps are like vaults that can be used to store private data.

Keep Network Use Cases

There are many potential applications of Keep Network. The Ethereum network allows it to expand the use cases for private data.

Here are a list of what Keep Network can be used for:

Keep DeFi: Keep Network is working on Keep DeFi, which will allow users to interact with decentralized finance (DeFi) applications.
Keep Chat: Keep Network launched Keep Chat, a messaging service that allows users to chat securely and privately.
Ethereum Bridge: Keep Network launched Keep Ethereum Bridge, which allows for the transfer of value between Ethereum and other blockchain networks.
Keep SDK: Keep Network introduced the Keep SDK, which allows developers to build applications on Keep Network.
Keep Browser Extension: Keep Network launched the Keep Browser Extension, which allows users to securely interact with decentralized applications (dapps).
KeepToken (KEEP): Keep Network released the KeepToken (KEEP), which is a utility token that is used to pay for fees on Keep Network.

Also, you can use Keep for the following:

Storing private data: You can store data such as medical health records, identity information, and financial data are some examples of private data that can be stored on Keep Network.
Custody digital assets: Keep Network can be used to custodian digital assets such as cryptocurrency.
Compliance and KYT: Keep Network can be used for compliance and know-your-customer (KYC) purposes.
Interoperability: Keep Network can be used for interoperability between different blockchain networks.
Transferring value between blockchain networks: Keep Network allows for the transfer of value between Ethereum and other blockchain networks.

Keep Network vs. Other Solutions

There are other solutions that provide similar functionality to Keep Network.

These solutions include:

Ethereum Plasma: Ethereum Plasma is a solution known for scaling Ethereum. The best known application of Plasma is OmiseGO.
Off-chain transactions: Off-chain transactions are transactions that occur outside of the Ethereum blockchain. The best known solution for off-chain transactions is the Lightning Network.
State channels: State channels are a scaling Ethereum solution. The best known application of state channels is the Raiden Network.
Sidechains: Sidechains are a solution for scaling Ethereum. The best known application of side chains is the Polkadot network.
EOSIO: EOSIO is a solution for scaling decentralized applications. The best known application of EOSIO is the EOS network.
Cosmos: Cosmos is a solution for interoperability between various blockchain networks. The best known application of Cosmos is the Cosmos network.
Polkadot: Polkadot is a solution for interoperability between numerous blockchain networks. The best known application of Polkadot is the Polkadot network.

These are great solutions, but only Keep Network can provide all of these features in one platform. Keep Network is the most comprehensive solution for private data storage and management.

How Does Keep Network Work?

Keep Network works by using “Keeps” to store the private data. Keeps are like vaults that can be used to store private data. Keep Network uses a protocol called “Proxy Re-encryption” to encrypt the private data before it is stored in a Keep.

Proxy Re-encryption is a type of encryption that allows one person to encrypt data for another person to decrypt. Keep Network uses this type of encryption so that the data stored in the Keeps can be decrypted by anyone who has the right permissions. Keep Network is designed so that the data stored in the Keeps is always encrypted and cannot be decrypted by anyone who does not have the right permissions.

Keep Network is designed to work with any type of data. Encrypted files, images, and videos can all be stored in Keeps. Keep Network is also designed to work with any type of blockchain. Keep Network is compatible with Ethereum, Bitcoin, and other blockchains.

Smart contracts platforms like Ethereum use public key infrastructure (PKI) to secure transactions. Keep Network is designed to work with PKI so that private data can be securely stored on the Ethereum blockchain.

Risks of Keep Network (KEEP)

Talking about security, it all comes down to trust. In order to maintain security, you must be able to trust the Keep Network (KEEP). Keep’s promise is that your private keys will never leave your device but this also means that you are trusting Keep with the security of your assets.

Here are the risks you should be aware of in regards to KEEP:

KEEP is a centralized network. Keep relies on a group of “keepers” to secure your private keys. This means that if the keepers are hacked, your assets could be at risk.
KEEP is still in development. Keep is still in beta and has not yet been audited by security experts. This means that there could be security vulnerabilities that have not yet been discovered.
KEEP is not available on mainnet. Keep is currently only available on testnet. This means that it is not yet ready for real-world use and should only be used for testing purposes.

Although Keep promises to never expose your private keys, this does not mean that Keep is 100% secure. Keep could still be hacked and your assets could be at risk.

Keep Network Price

Keep network price today is $ 0.1810647 and according to price statistics, the total supply is 999,848,781 KEEP and a circulating supply of 793,457,835 KEEP. The max supply of KEEP is 1,000,000,000 USD.

There’s a collaborative fund that supports the Keep Network development and ecosystem and this includes the Keep Network Foundation, a non-profit entity, and the Keep Security Incentives Program (KSIP), which is a for-profit entity.

The Keep Network Foundation focuses on developing the technology and protocol while the Keep Security Incentives Program (KSIP) is geared towards adopting and maintaining the network.

Keep Network Components

The Keep Network is composed of three key components: Keepers, Keeps, and Contracts.

Keepers

Keepers are the nodes that run the network. They are responsible for storing the encrypted private keys and signatures required to interact with Ethereum smart contracts. Keepers never have access to the unencrypted private keys or data.

Keeps

Off-chain containers called Keeps can hold any kind of data including smart contracts. Keeps are like “vaults” that can be used to protect sensitive data and logic. Keep network uses TEE’s (Trusted Execution Environment) like Intel SGX or AWS Lambda to keep this data secure.

A Keep is a decentralized smart contract that stores data off-chain. Keeps keep your private keys and data offline, away from prying eyes.

Contracts

Contracts are the applications that use Keeps to store data off-chain. Keep Network contracts act as bridges between on-chain and off-chain Keeps. They are responsible for interacting with Keepers to create, sign, and execute transactions.

The Keep Network uses a three-tiered security model to protect user data: randomization, encryption, and staking. The Keep Network is the first decentralized application platform that supports multiple blockchains.

Final Say

User privacy is the main concern of the Keep Network. It is still developing, but the Keep Network has the potential to become a major player in the DeFi space. Keep Network could provide solutions to some of the biggest problems in the crypto world today. Keep Network is definitely a project to keep an eye on.

Note that it is best to seek investment advice when it comes to Keep Network or any other investments for that matter.