Threshold Network (T) was launched on HotsCoin on January 9. Threshold Network is a solution that uses public blockchain to protect the privacy of user information and digital assets. Currently T is open for trading on HotsCoin.
- Overview
Threshold (T) Introduction: Threshold Network is a solution that utilizes public blockchain to protect the privacy of user information and digital assets. Formed from the merger of two networks, Keep Network and NuCypher, Threshold aims to build the first fully decentralized Bitcoin to Ethereum asset bridge to provide a highly scalable solution.
Token information:
Circulation: 9,558,802,676.781 T
Total supply: 11,035,000,000 T
Circulation market value: $324,115,522.771
Fully diluted market cap: $374,169,748.53
- Background
Keep Network：
Keep Network was founded in 2017 by Matt Luongo and Corbin Pon as a privacy layer for public blockchains. Through off-chain data container “Keeps” and distributed network “Signers” management, Keep Network uses secure multi-party computation to ensure information privacy.
NuCypher:
NuCypher was founded in 2015 by Michael Egorov and MacLane Wilkison to provide data protection and encryption. Its core technology is Proxy Re-Encryption (PRE), which implements end-to-end data encryption through proxy entities to achieve access control of private data.
- Merge
M&A landscape:
M&A transactions in the traditional financial sector set a record in 2021, while the crypto sector also began to explore mergers and acquisitions. The merger of Threshold is the first hard merger at the code level between Keep and NuCypher, forming the Threshold network, which aims to provide more secure and private decentralized services.
Threshold merger advantages:
Increase the number of network nodes and increase the scale of the off-chain data storage network.
Inherits NuCypher's PRE technology to provide encrypted access control for distributed applications.
Plans to upgrade to tBTC v2 to provide a low-cost, high-security Bitcoin to Ethereum asset bridge.
- Governance
Governance structure:
Threshold implements a bicameral DAO and a multi-signature committee. Token Holder DAO and Staker DAO are responsible for on-chain voting, delegated voting and execution of proposals, while the multi-signature council is elected by representatives.
Governance advantages:
Decentralized governance, Staker DAO and Token Holder DAO each have certain governance powers.
The multi-signature council handles proposals with protocol-wide implications.
Merger benefits
Merger advantages:
Increase the number of nodes and reduce the risk of collusion.
Inherit the technical advantages of Keep and NuCypher.
Building tBTC v2 to become a viable competitor to Bitcoin to Ethereum solutions.Demand for Bitcoin from tBTC and Ethereum
Whether Bitcoin holders are willing to use decentralized media, tBTC is the preferred bridge solution.
Demand is imminent or not, Threshold points to the introduction of BTC to Ethereum as a trend for the next crypto cycle.Conclusion/Roadmap
Future outlook:
①The Threshold team is focused on launching tBTC v2 and striving to reach a TVL of $7 billion by the end of 2022.
② Plan to launch stable currency thUSD to support decentralized lending, such as mortgages or car loans.
Summarize:
By merging the advantages of Keep and NuCypher, Threshold Network is committed to building a more secure, privacy-protecting decentralized network and becoming a pioneer in the asset bridge from Bitcoin to Ethereum. Threshold has demonstrated strong comprehensive strength in terms of governance, technology and market competition. With future development, Threshold is expected to occupy a more important position in the encryption field.