Keep Network is a second-layer protocol for Ethereum that supports storing and encrypting private information on a public blockchain, while aiming for maximum security and confidentiality. It powers tBTC, the first secure and distributed tokenized Bitcoin built to run on Ethereum. 

In short, it connects public, distributed ledgers with encrypted, sensitive data. The Keep Network uses off-chain containers called Keeps, which help ensure smooth and secure interaction between smart contracts and private data. Keeps are assigned at random to a subset of network participants, called signers, who store and manage these data containers. 

Designed to protect privacy and security, Keep Network keeps personal data strictly confidential. By relying on randomness to strengthen security and discourage distrust, Keep Network supports the idea of a secure, global, decentralized economy.

KEEP is Keep Network's native utility token, and it plays major roles in governance, staking, and incentive-related events. The chart on this page shows the current market price of KEEP. 

How Does Keep Network [KEEP] Work?

Keep is best understood as an incentivized network focused on storing and encrypting private data on the public blockchain.

Keeps form the backbone of the Keep network. The system relies on private enclaves-also referred to as “Keeps”-to encrypt and store private data (called “secrets” by the network). Offline storage is supported through secure multi-party computation (sMPC). This enterprise-grade security capability generates, safeguards, stores, encrypts, and transfers information among network participants.

The protocol includes these main components working together:

Random Beacon Node. This is a decentralized mechanism for random selection. It assigns signers from a pool in a cryptographically secure and distributed way. Random Beacon Node operates as a BLS threshold relay and is designed so it cannot be manipulated or cheated. As a result, it provides trustworthy randomness for signer selection without requiring trust.

Signer. A network participant that helps run and store off-chain vaults (private data storage containers, or Keeps).

Data containers or Keeps. These are off-chain storage vaults for private information. Keeps enable smart contracts to work with confidential “secrets” without exposing that information to a public ledger.

Keep [KEEP] Network is built to address multiple challenges that crypto investors face today, with privacy as its central objective. The protocol provides strong privacy alongside high-grade encryption. In addition, Keep Network’s decentralized design eliminates the risk of a single point of failure.

The project’s mission is to let users and applications store sensitive details (including private keys or other valuable financial information) inside small autonomous containers called “Keeps.” These Keeps are decentralized and not accessible to members of the Keep team. With Keeps, contracts can handle and use private data without exposing contents to the public ledger, using the Elliptic Curve Threshold Digital Signature Algorithm (ECDSA), which is verified and used by leading crypto wallets and exchanges.

The first decentralized application planned for on top of Keep Network is tBTC. tBTC acts as a secure, permissionless bridge between Bitcoin and Ethereum. tBTC is described as the only fully verified and insured decentralized BTC option on Ethereum. In this model, Bitcoin holders deposit BTC into a smart contract in return for tBTC-an ERC-20 token representing a full equivalent of the BTC value. Bitcoin-related keys in tBTC are stored within Keeps, keeping them inaccessible to the public blockchain. Through tBTC, users can access a range of decentralized applications and services across Ethereum.

Those who want to run data containers (“keeps”) must stake KEEP tokens, which the Keep Network uses to elect operators. These keep operators are paid KEEP tokens for successfully maintaining the data vaults. If operators misbehave or are negligent with the data containers, their staked assets can be taken back. At the same time, operators are rewarded with KEEP tokens for carrying out encryption, computation, and storage responsibilities.

What is the KEEP Token?

KEEP is The Keep Network's native token. KEEP performs several key functions throughout the system. 

Governance. KEEP holders can vote on network management and proposal changes.

Staking. Users may stake their KEEP coins on the platform dashboard or delegate their KEEP tokens to a staking provider. In addition to staking, participants may bond ETH on top of their KEEP stake position to seek higher returns. Stakers receive rewards in both ETH and KEEP for staking on the Keep network, depending on the amount of KEEP tokens they stake and ETH they bond. At present, rewards may reach up to 200% APY for Keep stakers. Note that the protocol may retrieve users’ staking positions for signing group misbehavior, which results in slashing.

Network maintenance. Users can run nodes to help maintain the protocol and receive crypto compensation for their contributions.

Where to Buy KEEP Crypto?

You can buy KEEP tokens on a cryptocurrency exchange. KEEP is available on Uniswap, Balancer, and Kraken. You can also supply liquidity to pools to earn rewards in KEEP cryptocurrency.

Where to Store KEEP Token?

KEEP is an ERC20 token issued on the Ethereum blockchain. That means KEEP can be kept in many types of wallets-both hardware and software-that support ERC20-compatible tokens. Some recommended hardware wallet options for storing KEEP include Ledger and Trezor. For software wallets, you may use Trust Wallet, Atomic Wallet, or MyEtherWallet.