Keep Network ICO review
Keep Network is one of the projects that offer not a niche product for a specific area (medicine, finance, commerce, etc.), but a comprehensive improvement for the most popular blockchains in general. Such projects (if their implementation is complete and competent) are much more popular with ICO investors, users and corporate clients. Because they solve such pressing issues as transactions speed and cost, security and confidentiality, and many others. What exactly has attracted the attention of the Keep Network crypto community and what is the global blockchain solution that the project team offers?
The essence and features of Keep Network concept
Keep Network (https://keep.network) is a solution that allows you to move part of transactions, as well as user-stored data outside the blockchain. At the same time, complete data privacy is preserved, and security at the blockchain storage level is also ensured. In addition, the system allows you to create private blockchains based on public networks, as well as to make public blockchains private.
Keep Network is based on the Ethereum network and was originally intended to interact with this ecosystem. However, the developers promise to make their product compatible with other blockchain using smart contracts. In addition, Keep Network can be used to make transactions between two different blockchains, for example, between Bitcoin and Litecoin.
The official project website contains information on at least five areas of use of Keep Network:
- Decentralized transactions confirmation on the main blockchain can use this network. Each participant of the transaction guarantees the reliability of the transaction, keys and other data.
- The ability to install “Dead Man Switch” locks in automatic mode by presetting. That allows you to open and close data for viewing on the project’s blockchain.
- Creation of private wallets for exchange between blockchains (in Bitcoin, Litecoin, Dash and other networks).
- Creating a private decentralized marketplace for content: audio, video, books, etc.
- Decentralized encrypted data repositories. To create such repositories they will use MPC systems of complex cryptographic calculations to ensure data privacy.
The Keep Network ICO project’s team
Key positions in the project are occupied by people who already have experience in developing blockchain applications and launching start-ups in this sphere.
Keep Network CEO and founder Matt Luongo launched the Fold project 4 years ago. This project is well supported and currently there are at least 2 active products on the Fold platform: service for payment for goods and services in cryptocurrency (as a working prototype on the site it is possible to pay coffee at Starbucks with a 10% discount), and the opportunity to exchange unclaimed gift cards for cryptocurrency. Corbin Pon – Fold’s co-founder and the chief developer is also leading Keep Network project together with Matt.
In addition, Matt Luongo has more than 10 years of experience as a programmer and worked in Scholrly as a technical director for three years. Corbin Pon has a comparable professional experience (he and Luongo simultaneously graduated from the University of Georgia), and is a co-founder of Scholrly.
The head of the technical team Antonio Salazar Cardozo has experience as a director (technology director in Inquus Corporation and teamlead in Elemica). Other development team members also have solid experience in various areas – for example, Nik Grinkevich previously worked in Google’s London office, and developed smart contracts in Solidity. The head of the operations department Prashanth Irudayaraj previously worked as the main program manager in Tesla.
Project’s advisors deserve special attention:
- John Packel is a developer of ConsenCys, a system of blockchain business solutions that has more than 450 large corporate clients.
- Joseph Urgo is a developer of district0x, a “blockchain platform for blockchain”, allowing different projects to interact with each other. Perhaps, they plan to integrate Keep Network into this system.
- James Prestwich, who previously worked for Storj Labs.
- Luis Cuende from Aragon.
For most blockchain projects, partners perform an image marketing function exclusively – they display their logos on the ICO website. But users and investors are not provided with information on the form in which the partnership is implemented and what is the real benefit for the project. However, Keep Network is an exception. Its partners are also ambitious projects, either recently closed ICO, or are at the same stage of a token sale.
First, there is a clear link between Keep Network and Dfinity, another systemic blockchain project. On GitHub, there is a joint repository, and you can trace the interaction between the two teams pretty well. There is a possibility that they can place Keep Network on top of the Dfinity network. In addition, according to unconfirmed reports, the Keep Network team is developing two Dfinity forks. At the same time, no one has officially confirmed the partnership yet. In spite of the fact that this is a good thing for both projects, the developers do not want to boast this fact.
Keep Network second partner is Lendroid, which has completed its ICO just recently. Lendroid is a decentralized blockchain platform for margin trading, using the 0x protocol.
KEEP token economics
It requires the KEEP token as a payment for data storage and transaction confirmation by masternodes. Masternodes will receive payments for their work according to the PoS algorithm. At the moment, it is not reported what exactly will be required to create a node. It is possible that they will publish the information closer to the ICO date.
In total, a billion tokens will be issued, half of them will be sold. The developers plan to raise $ 30 million during the ICO. Which means that the average Keep Network ICO price of the token will be 6 cents. Despite the already existing interest in the project, the developers promise to provide the opportunity to purchase a token for everyone. But to buy Keep Network ICO at least you need to get on the whitelist.
Summary of Keep Network ICO
Our Keep Network ICO review shows that it is a promising systemic blockchain project. It had a successful pre-sale, and only a few doubt in the success of the ICO. The team consists of specialists with experience in both the launch of blockchain start-ups and software development in general. The KN system already has its application, and therefore, a real product that ordinary users will use, as well as corporate customers, and, possibly, whole ecosystems.
As in other similar cases, it is likely that only the “whales” and those users who have got to the whitelist early will be able to purchase tokens.
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