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Smart Contract, Private Blockchain

Keep Network

Keep Network - off-chain protocol of private data storage

Rating: 3.8

Official contacts
Location: N/A
Web-resources:   Whitepaper Website
Social networks:
Product source tracking: https://github.com/keep-network
Details Description Risks Full analysis Team

Detailed review

Stage of product development


Token description
ICO date
TBA
Token price
N/A
Platform
N/A
Hard cap
30000000
Blockchain
Token distribution date
N/A
Consensus method
Escrow
N/A
ICO currencies
USD
Bounty camping
N/A
Markets
N/A
Token functions
Payment for private storage and computing smart contracts
Risks
MARKET

- Strong competitors

PRODUCT

- Untransparent activity, so that it is hard to track the progress of the development

BUSINESS MODEL

- Clients may pay for storage with ETH, so the native token may be useless

FINANCES

- Too much funds raising, according to gossips

- Unpublic way of raising funds

TEAM
Full analysis
Market

The market has seen a few solutions supporting the upgrading the security and privacy in crypto networks. And recently the focus of developer has changed from just anonymous payment crypto networks to private solutions with applications and secure smart contracts. That is the field where Keep Network operates. Strong competitors include NuCypher and Enigma - both strong and respected projects but with a bit different approaches.

Product

Keep Network serves as an off-chain container allowing smart contracts to manage private data without sending the data to the public blockchain. Keep Network sends public keys to smart contracts that may be used for private communication. Data may be computed privately and published publicly when it is needed.

Keep Network generate private storage where private data is encrypted and secured. Tokens are used for private storage and may be a reward for those who actually store and compute this private encrypted data.

Nodes must lock up tokens (shared staking may be used). 

Github is active. By the way, the project is not public in disclosing the current progress and following the roadmap (roadmap also is not disclosed).

Business model

Tokens are used for private storage and may be a reward for those who actually store and compute this private encrypted data. Nodes must lock up tokens (shared staking may be used).

Finances

Gossips indicate that the project raises about 30M USD. Keep Network also published its investors on the website - Polychain, Andreessen Horovitz, DHVC, Draper, Fabric Ventures. 

The project is far from being public in raising capital, so the public tokensale is not expected in the middle term.

Team

Matt Luongo (Project Lead) - tech lead at Insightpool and Agency Spotterblockchain experience since 2014 (Fold founder).

Corbin Pon (Developer & Ops) - graduated of the Georgia Tech College (Computing), has experience in the defence industry, was a researcher for the application of technology in International Development.

Antonio Salazar Cardozo (Head of Engineering) - 10 years in the software development, with a persistent emphasis on community, collaboration, quality, and usability.

Piotr Dyraga (Tech Lead) - tech leading positions in banking, networking, supply chains, and aviation, 9 years as a software engineer.

Other team members include mostly developer with over 5 years of relevant experience.

 

The advisory is also strong - John Packel (ConsenSys), James Prestwich (Storj), Joseph Urgo (District0x), Luis Cuende (Aragon)

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