Developers for NuCypher and Keep Network have proposed the first-ever on-Chain merger in the world as the decentralized protocol in the crypto space. Both the teams published their proposals on the forums of Keep and NuCypher’s DAO on March 8. If approved, the project will integrate into a new interoperable network called “Keanu”. First-Ever on-Chain Merger as Decentralized Protocol The Keep Network is an Ethereum-based protocol that allows users to privately store and transfer data off-chain. The project is best-known for decentralized Bitcoin tokenization protocol, tBTC. Keep Network’s project lead Matt Luongo wrote in a forum thread that the projects of the two protocols will join together in a multi-stage process. Keep project lead Matt Luongo wrote: “The Keep and NuCypher networks have built similar technology with similar goals. Rather than continuing to split the market, we think we can achieve significantly more together. And while both dev teams will remain independent, we’ll all be focused on a single protocol.” 1/ Recently, a couple @keep_project and @nucypher community members reached out to broker a call. Two whirlwind weeks later, and the teams are putting a joint proposal in front of our communities. The proposal? To join forces in the first on-chain protocol hard merge. — Matt Luongo (@mhluongo) March 8, 2021 On-Chain Merger of NuCypher and Keep Network Protocol While NuCypher offers decentralized data encryption and protection layer for decentralized apps (dApps). The protocol has built a layer on top of Ethereum that utilizes proxy re-encryption or PRE. According to NuCypher’s DAO forum, its 2,000 nodes would become signers to tBTC. This will increase its node-count by 1,000% for tBTC’s upcoming v2 update. 4/ Joining forces means building a more resilient network.. and the perfect foundation for tBTC v2. Today, 200 nodes are staking with @keep_project , backing tBTC and the random beacon. 2,000 nodes are staking with @nucypher to back proxy re-encryption. — Matt Luongo (@mhluongo) March 8, 2021 Initially, a new staking contract would be launched for providing support for NU and KEEP as work tokens. Both the tokens would be given equal weight under the framework. While each of the communities will be granted a combined 50% stake in Keanu. Later, a new DAO contract would be deployed followed by tBTC v2 upgrade and integration of the respective client networks. Despite the network’s plans on integration, its development will be driven by two independent teams working toward shared objectives. Meanwhile, the proposals have been shared publicly for community and stakeholder feedback.
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