Cryptocurrency has exploded in popularity, but it’s not without its challenges. One of the biggest challenges? Hacking and scams. In fact, hundreds of millions of dollars worth of cryptocurrency was stolen by hackers in 2017 alone. If cryptocurrency is going to be widely adopted by businesses and consumers alike, this needs to change! Luckily, there’s a team working on an innovative solution called Keep Network (also known as KEEP). Keep Network is using blockchain technology to create an ecosystem that’s secure against hacks and scams. But what makes Keep Network different from other crypto solutions?
What is Keep?
Keep is a decentralized network that provides security for cryptocurrency transactions. In other words, it’s a way to keep your crypto safe from hackers. And it’s not just for big transactions- Keep can be used for any size transaction. What makes Keep so secure? The answer lies in a revolutionary blockchain technology called TEE (Trusted Execution Environment). What exactly does this do?
Basically, this means, It guarantees privacy by splitting up your data into chunks, which are then encrypted with various encryption keys. Only these keys can unscramble the data and only if all of them are working together. Each key is stored on different hardware. Think of them as puzzle pieces- you need all of them to complete the puzzle, but no one piece will do it alone. All of the pieces must fit perfectly together or else they won’t open at all.
So how does this help us save our coins from hacks? Well, each chunk has an authentication process that checks whether or not it belongs where it’s supposed to be. If something doesn’t look right, like an unauthorized third party accessing the puzzle piece and trying to put it somewhere else without permission, Keep will notify the rightful owner instantly so they can stop whatever’s happening.
How does it work?
How is it different than other blockchains?
The Keep Network is a new kind of blockchain that is different than other blockchains because it uses a combination of public and private keys to keep your information safe. This means that your information is not stored on one central server, but on a network of computers all around the world. When using two-factor authentication, this is a deterrent for hackers looking to get ahold of your data. Your passwords are also protected with strong encryption so they can’t be hacked either. You can control who has access to them by adding people as authorized viewers. It’s like using email: you send an email knowing only the recipient will read it, but you know there’s a chance it could get forwarded. In this case, if someone shares their password with someone else without permission (without being added as an authorized viewer), then they would become an unauthorized viewer who can see your messages and data but cannot change anything in the account. Authorized viewers can even set up expiration dates, after which they will no longer have access to the account. With Keep Network, you don’t need to worry about getting hacked or having your account stolen!
Why do we need it?
We need Keep Network because it provides a way to keep our private keys offline and out of the reach of hackers. By doing this, we can protect our cryptocurrencies from being stolen by hackers. In addition, Keep Network also provides a way to keep our transaction data private. This is important because it helps us avoid being tracked by government agencies or financial institutions. Overall, Keep Network is a great way to keep our crypto safe and secure. It does not have any downsides that I am aware of. So let’s start using it! The first step in getting started with Keep Network is installing the software on your computer or phone. You will then generate a Master Password which you will use to log into your account in order to generate your public and private key pair (keep reading if you want more information about how to do this). Once you have done this, you will use these keys for everything relating to cryptocurrency such as sending and receiving money and logging into exchanges that require two-factor authentication (i.e., GDAX). Your Master Password cannot be used for anything other than logging into your account so there’s no need to worry about forgetting it like when you lose your password for an email account.
How can I get involved?
Keep Network is a new cryptocurrency that plans to take on the world of online security. Their strategy is simple: they want to create a network of decentralized, encrypted nodes that can be used to store data securely. This way, even if one node is hacked, the rest of the network will still be safe. And since the data is distributed across many nodes, it will be very difficult for hackers to access it all. Plus, Keep Network has plans to use this same technology to create a decentralized exchange, which would be much more secure than the current exchanges that are vulnerable to hacks. So how can you get involved? It’s easy! You can mine coins by running KeepNet on your computer or buy them through an ICO (Initial Coin Offering). What does this mean for us as consumers? Well, it means that our personal information will always be stored safely in the cloud so we don’t have to worry about identity theft or hacking. This is going to change everything.