NuCypher and Keep Network propose ‘world’s first decentralized protocol merger’

The communities of the crypto projects Keep and NuCypher propose a “hard merger”, with viewers describing the move as “the world’s first decentralized protocol merger”.

Proposals were posted on the respective forums of Keep and NuCyphers DAO on March 8th, with insightful discussions between the two projects going on for several weeks. In the event of a merger, the two projects will likely be integrated into a new interoperable network called “Keanu”.

1 / Recently some members of the @keep_project and @nucypher communities got in touch to transfer a call. Two whirlwind weeks later, the teams submit a joint proposal to our communities.

The application? In order to band together on the first on-chain protocol, a hard merge is done.

– Matt Luongo (@mhluongo) March 8, 2021

The Keep Network is a protocol that allows blockchain users to privately store and transfer data off the chain. The team uses its technology to create the decentralized Bitcoin tokenization protocol tBTC. NuCypher also offers a decentralized data encryption and protection layer for decentralized Ethereum-based applications.

NuCypher CEO MacLane Wilkison’s contribution to the DAO of his project stated that NuCypher’s 2,000 nodes would become signatories to tBTC, increasing the number of nodes by 1,000% and providing a solid foundation for the upcoming revision of tBTC v2 would be created.

A step-by-step introduction for integration is recommended in the proposals. First a new employment contract would be started, in which both NU and KEEP are supported as work tokens. Each community receives a combined 50% stake in Keanu.

A decentralized autonomous organization (DAO), which will be managed by the new contracts, will follow shortly, followed by the provision and integration of the respective client networks through tBTC v2.

Despite the planned integration of the networks, the development is being advanced by two independent teams working towards common goals. Keep Project Leader Matt Luongo wrote:

“The Keep and NuCypher networks have developed similar technologies with similar goals. Instead of dividing the market further, we believe that together we can achieve significantly more. And while both development teams remain independent, we are all focused on a single protocol. “

On Twitter, Luongo also predicted that the integration will pave the way for Layer Two integrations, suggesting that users will soon be able to mint tBTC on Optimism, Arbitrum, Polygon, or zkSync.

Viktor Bunin of blockchain infrastructure provider Bison Trails noted that Keanu would bring greater modularity to the project’s existing project operators by tweeting:

“Keep and NuCypher are both modular. You can add support for new use cases that stakers can choose. Stakers in the new network will have a wider range of modular components […] through which they can earn fees. “

Bunin added that Keanu will reduce “any network’s reliance on inflationary stimuli,” which will allow the new network to become “sustainable on fees alone” much faster.

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