What is Threshold ?
The Threshold (T) project is a merger of two projects – the KEEP network and the NuCypher. Both these technologies are involved in building sustainable and blockchain-driven privacy solutions for users. While both these networks have their own native tokens already, the goal of the T network is to allow smart contract access. Threshold will also, eventually, be able to manage encrypted data for users in a decentralized framework.
Primary features of Threshold
- It is a utility token.
- It is based on both the KEEP network and the NuCypher.
- Threshold (T) tokens can be used in the form of tBTC to hold bitcoins as capital.
Is Threshold a promising cryptocurrency?
Threshold is an incredibly promising cryptocurrency. It can be used to build the next generation of decentralized applications on the Keep network, as well as the NuCypher. Along with KEEP, it could be used to store valuable and sensitive information like medical applications, records, and social media too. Creators could also have the ability to buy, sell, and trade in T coins using the Threshold network.
How to use Threshold?
- Threshold (T) coins are utility tokens. As the value of the underlying blockchain technologies inflates, so will its value.
- T coins can be used in the form of tBTC, which is a wrapped version of BTC on Ethereum.
- Over time, it is expected that the Threshold network will help aid the growth of tBTC, including other layer-2 chain assets.
Pros & Cons of Threshold
- The underlying blockchains of Threshold are very successful ones. KEEP and NU both currently rank amongst the top 150 cryptocurrencies of all time and have market caps exceeding $700 million (combined).
- Threshold holds immense potential to appreciate in value in the long term as more applications get built around its functionality.
While Threshold aims to solve a big problem with privacy on the blockchain, experts say that it might not have a loyal user base just yet. Although this is gradually getting created, no one knows when it’ll hit the… well, threshold.
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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.