NuCypher And Keep Network Propose First Decentralized Protocol Merger

NuCypher and Keep Network announced plans to integrate due to a new network dubbed “Keanu” and propose a hard merge with the onlookers describing a move as the “world’s first decentralized protocol merger” so let’s read more in our latest crypto news today.

The proposals were published on forums of Nucypher and Keep Network on March 8, revealing discussions that were underway between the two projects for a few weeks. If passed, the merger is expected to see the projects integrated into a new interoperable network which is called “Keanu.” The Keep Network is a protocol allowing Blockchain users to store and transfer data off-chain with the team using the technology to build the decentralized BTC tokenization protocol-tBTC with NuCypher offering a decentralized data encryption and protection layer fro ET-based decentralized apps.

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

The post was written by CEO MacLane Wilkison and noted that NuCypher’s 2000 nodes will become signers to tBTC and will increase its node count by 1000% as well as provide a robust foundation for tBTC’s upcoming v2 overhaul. The proposal recommended a phased roll-out for the integration and the new staking contract will launch soon while maintaining support for both Keep and NU tokens. Each community will be granted a combined 50% stake in Keanu as well.

The DAO organization is managed by new contracts that will follow soon, followed by tBTC v2 deployment and integration of the respective client network. Despite the network planning to integrate, the development will be driven by two independent teams as Keep’s 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.”

On Twitter, Luongo predicted the integration will pave the way for a layer-two integration and suggests users will be able to mint tBTC on Arbitrum, Polygon, and Optimism. Viktor Bunin from the blockchain infrastructure provider Bison Trails noted that Keanu will offer the stakers much bigger modularity tweeting:

 “Keep and NuCypher are both modular. They can add support for new use cases, which stakers can opt into supporting. Stakers on the new network will have a greater selection of modular components […] via which they can earn fees.”