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Keep Network

What is Keep Network ?

The Keep Network is a decentralised software that allows users to store private and personal information on the blockchain without compromising security. The Keep Network uses smart contracts to achieve this. Users can store sensitive information like credit scores, health records, and other financial information on the blockchain for safekeeping with The Keep Network. KEEP coins can be used to navigate the Network efficiently.

Keep works by storing the user’s private information on the outer periphery of the blockchain in “keep containers”, managed by the network. This allows the network to utilise the immutability of the blockchain while staying outside the public domain at all times.

Primary features of Keep Network

  • Information privacy: The Keep Network keeps sensitive personal information secure and off the blockchain for safekeeping.
  • Users can earn fees for providing work on the network: Users are paid in KEEP tokens.
  • tBTC is one of the first BTC bridges to be created on the KEEP network: allows BTC holders to interact seamlessly with the Ethereum blockchain.

Is Keep Network a promising cryptocurrency?

The Keep Network works in an utterly permissionless fashion, becoming one of the only genuinely decentralised networks out there. It solves a fundamental problem in the blockchain space by removing private information from availability to the public.

tBTC, a Bitcoin bridge on Ethereum, is one of the first independent applications built on the Keep Network. It is a project supported by Summa and the Cross-Chain Group. Not only does it allow users to access Ethereum’s DeFi ecosystem seamlessly, but it also enables earnings with Bitcoin.

How to use Keep Network coins?

  • KEEP coins can be used to keep the Keep Network secure (confused yet?) via staking.
  • Tokens can also be used to earn fees on the network.
  • KEEP can be used as a store of value by individuals looking to invest in cryptocurrencies.

Pros & Cons of Keep Network coin

Pros

  • Safekeeping of private data is a relatively untouched domain of blockchain technology.
  • The Keep Network is one of the biggest names in the open-source information security software market.
  • KEEP cryptocurrency is the native token of the network, allowing users to stake their funds and earn staking rewards regularly.

Cons

  • There’s little information available about the inner workings of The Keep Network.
  • The coin hasn’t garnered a lot of adoption in recent years.

Trade Keep Network coin on CoinSwitch kuber

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Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.

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KEEP is the native token of The Keep Network, one of the most prominent personal information safekeeping networks on the blockchain.