Simply put, Threshold is a way to keep your information and digital assets private while using a public blockchain.
For the past few months the Keep and NuCypher teams have been hard at work on the first ever on-chain merger between two decentralized networks with a shared goal. Both projects are focused on guaranteeing user sovereignty on the public blockchain through the use of threshold cryptography. Now as Threshold, Keep’s infrastructure and NuCypher’s privacy tools will offer users an integrated way to keep their digital assets private and secure.
At the core of this unified network will be Keep’s ability to encrypt, store, and transmit private data through off-chain containers. These “keeps” are accessible to smart contracts without compromising either the privacy of users nor the transparency of the network. A technology that has already been the basis of important solutions such as tBTC, the most trusted BTC bridge in DeFi.
On top of this infrastructure, the network will run NuCypher’s popular privacy tools. These include managing secrets across different environments, granting and revoking access to sensitive information, and processing encrypted data without revealing it. The Threshold network will also include NuCypher’s Proxy Re-encryption tools which delegate decryption rights.
Another important aspect of Threshold is that it will continue to be a community-driven network. We’re transitioning to the Threshold DAO with the inclusion of members from both Keep and NuCypher. More so, the decision was the result of a decentralized voting process where support for the initiative became an example of decentralized decision-making.
The Threshold DAO will consist of a three-pronged governance structure with separate responsibilities. A StakerDAO holds most of the decision power while a TokenHolderDAO manages treasury, token issuance, and governance changes. An elected council made up of Keep and NuCypher representatives sets staker rewards and has the power to veto proposals.
Even before the launch of Threshold DAO, the Keep and NuCypher communities have been in collaboration with the launch of tBTC v2. The expansion of tBTC benefited KEEP and NU through a launch on a shared network. Holders of both tokens are able to provide liquidity for coverage pools and earn yield.
Going forward, Threshold will be a one stop solution for user sovereignty with a comprehensive set of tools that only two established privacy-focused networks are able to provide. Be sure to be a part of this by joining us on Discord to participate in our community and learn more about the network.