Published 26 Apr by Oleksandr Liubashevskyi
Bitcoin gave you a currency. Monero gave you a private currency. Ethereum gave you Smart Contracts. Keep gives you private Smart Contracts, built for every situation in which a smart contract interfaces with sensitive data.
Keep Network has two main functions:
Secure encryption. Data will be protected using secure multiparty computation, generating, securing, storing, encrypting and transmitting data between many individuals (as NuCypher does).
Storage for private data.
Allows not only storing and delegating access to data, but also the execution of smart contracts and calculations.
They don't have any kind of demo/Prototype.
Before the crowdsale, a demo is expected. For now, they have only granted access to a rarely updated github repository where there is little activity. There is no product or, even, a pre-demo, there .
The team consists of developers and community managers -- nothing particularly remarkable.
Matt Luong and Corbin Pon are the co-founders of Keep. Two graduates of the Technological University of Georgia (U.S. state). In 2014, they created Fold, an application for spending bitcoin at cafes (try it at Starbucks).
The advisory board consists of experienced specialists. Worth noting are:
John Packel, a core developer from ConsenSys.
James Prestwich, a former COO at Storj.
Joseph Urgo, the co-founder of District0x.
Luis Cuende, co-founder Aragon.
On the one hand, in comparison to NuCypher, Keep Network can do more than proxy re-encryption, but, on other hand, it is slower (impractical), and vulnerable to attack of 51%. We can conclude that NuCypher and Keep will share the market: Nucypher will serve companies that care about speed and scalability, and Keep will attract companies in need of “smart operations.”
Enigma (Market cap: 144mln USD) also aims to provide encrypted smart contracts in the future (same functionality as supplied by Keep Network). It is already established in the market and has more experience. This makes Enigma more attractive than Keep.
Keep Network tokens are Stack and Utility.
Providers must prove and lock up their holdings (“stakes”) to participate in the network. The Keep Token will be used as a reward to node-holders which provide off-chain calculations and storage function.
According to co-founder, Matt Luongo
“Exchanges are free to list KEEP … once it's launched. Users are free to get it listed. We won't support a listing, financially or otherwise. Sorry if that's disappointing, but we've mentioned it many times. This is an opportunity to buy a token to stake and act as a provider in the network -- not to flip a token and get liquid.”
Keep Network is a very promising project, but we deduct points for the absence of a prototype. Moreover, it has two strong competitors: NuCypher has an advantage (easy, fast, and scalable) in the mass customer market, and Enigma is more experienced and has already finished its ICO stage. However, this industry-sector is very promising, and we should wait for the Keep Network demo. For now, then, our verdict is 6 out of 10.