Keep Network (KEEP)
An Incentivized Network to Store and Encrypt Private Data on the Public Blockchain.- Keep Network is a privacy layer for Ethereum that aims to bridge public blockchains and private data. The protocol features off-chain containers (Keeps) that allow smart contracts to safely interact with private data. The network randomly assigns Keeps to a group of network participants, called signers, that help to store and manage the data containers.
- KEEP is Keep Network's native utility token and is used in the following functions:
- Governance: KEEP token holders can vote on network governance decisions.
- Staking: Users may stake KEEP tokens on the platform dashboard or via a staking service provider to act as a Keep Provider. In addition to staking KEEP tokens, users may bond ETH on top of their KEEP staking positions to increase their yield. Note that users' staking positions may get penalised for signing group misbehaviour, which will result in slashing.
- Network participation: Users may run nodes to help maintain the network, and earn network incentives.
- The protocol consists of the following major components working in conjunction:
- Random Beacon Node: Random Beacon is a decentralized random selection tool for selecting signers from a pool in a cryptographically secure and decentralized way. This beacon takes the form of a BLS Threshold Relay and cannot be gamed or manipulated. It is a trusted source of randomness for the process of trustless group election.
- Signers: Network participants that help to store and manage off-chain containers (Keeps).
- Keeps: An off-chain container for private data, which allows smart contacts to manage and use private data without exposing it to a public blockchain.
- As at June 17th 2021, the total supply of KEEP is 1,000,000,000 and the current circulating supply is 437,480,000 (~43.75% of the total token supply).