What Is Threshold (T): Cryptographic Innovation For dApps

The world of blockchain continues to evolve, bringing advanced innovations that support a variety of applications. One of the latest innovations is Threshold Network (T), which is a combination of two leading protocols, Keep Network and NuCypher. This merger was successfully completed on January 1, 2022, marked by the launch of the T token.

What is Threshold (T)?

Threshold Network (T) is a combination of two leading protocols, Keep Network and NuCypher. The merger was successfully completed on January 1, 2022, marked by the launch of the T token which provides a suite of cryptographic primitives to support various dApps.

T Token: Utility and Governance in the Threshold Network

The T token serves as a utility token on the Threshold Network and a governance token for the Threshold DAO. This gives node operators the opportunity to receive fees from applications that rely on Threshold Network's cryptographic primitives. As a governance token, users can lock tokens in a protection pool to earn yield in exchange for collateral risk in the network.

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Functions and Uses of T Tokens

T tokens are used primarily for staking nodes. Node operators earn fees from various applications that utilize Threshold Network's cryptographic primitives. In addition, the T token also acts as a governance token and users can lock this token in a protection pool to earn yield in exchange for collateral risk in the network.

Threshold Primitives and Use Cases

Threshold provides a set of cryptographic building blocks for privacy, access control, and cross-chain bridges, including:

• Proxy re-encryption (PRE)
• Threshold signatures (TSS)
• Distributed key generation (DKG)
• Random beacon (RB)

tBTC: Threshold's Flagship App

tBTC is Threshold's flagship app. tBTC is tokenized Bitcoin and is completely permissionless (no custodian), allowing anyone to tokenize their Bitcoin and use it in DeFi applications without sacrificing privacy or risking censorship.

Early History of Threshold

Keep and NuCypher merged into Threshold Network via a decentralized on-chain merger. The idea of ​​merging the two networks was first proposed by the community in February 2021. The first iteration of the merger proposal was posted on the Keep Network forums in March. rc0's final proposal defining the terms of the merger was approved in June 2021 by both communities, with snapshot voting for Keep and NuCypher token holders.

Detail Pasokan Token T

• Initial supply: 10 Billion
• 4.5 billion allocated to NU holders
• 4.5 Billion allocated to KEEP holders
• 1 Billion allocated to Threshold DAO

Upgrade by Token T

Vending machine contracts with a static conversion ratio will be available to NU and KEEP holders indefinitely. There is no time pressure or loss in waiting to upgrade NU/KEEP to T, so please be careful, take your time, and confirm everything!

As a reminder, existing NU and KEEP holders who are staking will not be able to use vending machine contracts until their shares unlock and become liquid. Legendary stakers will be included in Threshold via a special staking adapter.

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Analytic Threshold

Holder Distribution by Ownership

• $0 - $1k: 86.51%
• $1k - $100k: 11,97%
• $100k+: 1,52%

Whale Ownership

• Whale: 84,52%
• Others: 15.48%

Storage Duration by Holder

• Cruisers: 63,82%
• Traders: 10,82%
• Holders: 25,36%

With the innovation brought by Threshold Network (T), the world of dApps gets the support of strong and versatile cryptography, opening up new opportunities in the use of blockchain technology.

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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.