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Author Topic: What can be built on the Keep Network?  (Read 193 times)

Afina_22

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What can be built on the Keep Network?
« on: August 30, 2020, 05:58:57 PM »
Rapid development of the DeFi ecosystem opens the way for a new economical era of a fully decentralized and uncensored financial system. However, there are still a lot of obstacles on this way, so the Keep Network is created to address the most pressing issues of the industry.

First, most wealth in the crypto world is concentrated in Bitcoin which is currently isolated DeFi products. This issue was addressed by the very first application developed in the Keep Network - tBTC. However, we won’t stop on this application for long - enough was said already.

Second, the Keep Network addresses the crucial problem - “for every purpose you have to use a specialized coin or token”. For example, if you have only ETH, but want to ensure privacy of your transaction - you have to exchange your coins for one of so-called “anonymous cryptos”, conduct a transaction. After that the receiver will have to exchange the coins back. It all causes huge delays, financial losses due to exchange rates and fees, and greatly hampers privacy due to reliance on exchange platforms.

The Keep Network not only facilitates transfer of wealth between different blockchain networks, but also increases the functionality of existing blockchains. Randomization and threshold multi-signatures that Keep provides add a layer of privacy to any blockchain.

Basically, it becomes possible to conduct private transactions in public blockchains, like Ethereum. Moreover, threshold transactions are not only extremely difficult to track, but also indistinguishable from “normal” transactions. So all the efforts of multiple government and non-government organizations to track crypto transactions are thwarted immediately.

Solutions, made possible due to the Keep Network, make the idea of building a free and fully decentralized financial system, envisioned at the very beginning of cryptocurrency development, viable again.

 

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