KEEP

Overview of KEEP

KEEP Network is a privacy layer for Ethereum, allowing users to utilize secure multiparty computation (sMPC). KEEP token, the native cryptocurrency of the network, is instrumental in maintaining the operation of this decentralized network. Founded in 2017 by Matt Luongo and Corbin Pon, the network leverages KEEP to facilitate various private, on-chain activities. KEEP tokens are traded on multiple exchanges including Binance, Kraken, Uniswap (V2), and Huobi Global. Token holders can store their KEEP in several types of wallets, with popular options including Metamask, Ledger, and Trezor.

Pros and Cons

What Make KEEP Unique？

KEEP Network brings a unique and innovative approach to privacy on the Ethereum blockchain. Its main innovation lies in providing a privacy layer for Ethereum using secure multiparty computation (sMPC). This innovation sets the KEEP Network apart from many other cryptocurrencies which do not offer a similar privacy solution.

The use of sMPC ensures that participants can jointly compute a function can be carried out over their inputs while keeping them private. In the context of blockchain technology, this functionality can add a significant layer of privacy and security to various on-chain activities.

Another distinctive feature of the KEEP Network is the KEEP token itself. The token serves as the work token in the network, encouraging participation in the system and ensuring the smooth running of operations in the decentralized network.

How Does KEEP Work？

KEEP Network operates on a method different from conventional cryptocurrency mining. Instead of relying on a typical Proof of Work (PoW) or Proof of Stake (PoS) system like Bitcoin or Ethereum, the KEEP crypto ecosystem uses a staking model.

In the KEEP Network, token holders can engage in staking, where they lock up a portion of their tokens to participate in the network. The tokens act as a form of collateral and are used to incentivize honest behavior within the network. Participants who act in the network's best interest are rewarded with more tokens, while those who behave maliciously may lose their staked tokens.

The system leverages Keep Random Beacon, a form of Threshold Relay involving groups of signers that generate random numbers. This system ensures a fair and transparent selection process and operational environment for those who participate in the network.

Mention of specific mining software or equipment is not applicable to the KEEP network due to its model. Without the need for high computational power, the Keep network is more energy-efficient compared to networks operating on PoW like Bitcoin.

Exchanges to Buy KEEP

KEEP tokens are supported by multiple exchanges, which indicate a wide accessibility for potential buyers.

The first exchange is Binance, one of the most prominent and largest cryptocurrency exchanges globally. It offers a broad range of cryptocurrency trading pairs, with advanced trading features and secure platform.

Secondly, Kraken, another well-known cryptocurrency exchange, also supports the buying and selling of KEEP tokens. Kraken is known for its robust security measures and user-friendly interfaces.

Uniswap (V2) is a decentralized exchange operating on the Ethereum blockchain. As a decentralized service, Uniswap offers a different trading experience compared to the traditional cryptocurrency exchanges. It supports the trading of KEEP tokens.

How to Store KEEP？

KEEP tokens can be stored in various types of cryptocurrency wallets, both hardware and software, each offering different levels of security and convenience.

One popular option for storing KEEP tokens is Metamask, a browser extension wallet for Ethereum-based tokens. It's known for its simplicity and convenience, allowing users to send, receive, and manage their tokens directly from their web browser.

For enhanced security, hardware wallet options like Ledger and Trezor can be used. Hardware wallets are physical devices that store your private keys offline, which provides a high level of security against digital threats.

Ledger is a well-known hardware wallet that supports a wide range of cryptocurrencies including the KEEP tokens. It's renowned for its top-notch security features and intuitive interface.

Trezor is another reputable hardware wallet compatible with KEEP. Like the Ledger, Trezor stores your crypto assets offline and allows you to manage your tokens securely.

Regardless of the chosen wallet, it's always crucial for users to follow secure practices such as keeping their private keys confidential, double-checking transaction details, and regularly updating their wallet software.

Should You Buy KEEP？

The suitability to buy KEEP, or any cryptocurrency, can depend on several factors:

1. Risk Tolerance: KEEP, like all cryptocurrencies, is subject to market volatility. Those who have high-risk tolerance and can absorb potential losses might find it suitable.

2. Blockchain Interest: Individuals interested in blockchain projects, particularly those focusing on privacy enhancements and the Ethereum ecosystem, might consider buying KEEP due to its underlying technology.

3. Technical Understanding: Knowledge of how staking, secure multiparty computation (sMPC), and Ethereum-based tokens work would be beneficial for potential KEEP buyers.

FAQs

Q: Who are the primary people responsible for founding the KEEP Network？

A: The KEEP Network was initiated by Matt Luongo and Corbin Pon.

Q: What wallets support KEEP tokens？

A: KEEP tokens can be stored in various wallets such as Metamask, Ledger, and Trezor.

Q: What exchanges allow for the trading of the KEEP token？

A: Binance, Kraken, Uniswap (V2), and Huobi Global all support the trading of KEEP tokens.

Q: What is the fundamental innovation that sets KEEP apart from other cryptocurrencies？

A: KEEP Network is distinct for its application of secure multiparty computation (sMPC), providing a privacy layer for Ethereum.

Q: Which mining methods does KEEP Network use？

A: Instead of conventional mining, KEEP Network allows token holders to participate in staking.

Q: How does the price of KEEP respond to market changes？

A: The price of KEEP, like all cryptocurrencies, is generally subject to market volatility.