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Keep allows users to deposit their BTC in exchange for tBTC.
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KEEP is also used to secure the network along with tBTC, and it serves as the governance token for the network.
The Keep Network aims to address the issue of public blockchains, which are decentralized and available to anyone. While this approach democratizes information, it can compromise the confidentiality of sensitive data.
What is Keep Network and How it Works
Keep Network is a proof-of-stake protocol that allows private storage and transfer of data through “keeps.” This solves the issue of Bitcoin custody and enables access to DeFi services without risking Bitcoin with a custodian. The grand vision of cryptocurrency is a system without middlemen, and Keep provides a solution to this issue.
Matt Luongo and Corbin Pon, who are veterans in the crypto industry, founded Keep Network back in 2017. On April 27th, 2020, the network launched its mainnet with the creation of 1 Billion KEE
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