Threshold Network is a decentralised network formed from the merger of Keep Network and NuCypher. It offers enhanced cryptographic services and decentralised finance (DeFi) solutions. The network provides a suite of threshold cryptography services for web3 applications through a decentralised network of nodes.
Threshold Network utilises threshold cryptography, distributing cryptographic operations across multiple nodes. This ensures operations can only be executed if a specific minimum threshold of nodes collaborates, enhancing security and preventing single points of failure. It integrates with public blockchains, primarily Ethereum, offering services like proxy re-encryption and decentralised asset bridges such as tBTC. The network employs threshold cryptography algorithms and smart contracts for staking and managing services.
Threshold Network primarily enhances privacy and security in web3 applications. Key use cases include:
Threshold Network was established through the merger of NuCypher and Keep Network, with the unified network launching on January 1, 2022. Key milestones include the introduction of the T token, the launch of services like tBTC v2, and partnerships with leading blockchain networks such as Bitcoin and Ethereum. The network has continually evolved, focusing on decentralising WBTC and enhancing interoperability across blockchain ecosystems.