The token of Threshold, the company born from the merger of the two companies Keep and NuCypher, is one of the crypto assets that has been gaining the most in recent days.
The project is still little known, but nevertheless it is attracting the attention of many.
In the article, we will go over what the project’s features are and how much its token is growing.
Keep Network and NuCypher create Threshold to increase security in the crypto world
The project was born in February 2022, with the aim of increasing privacy and security through cryptocurrencies. The merger is between the Keep Network company, which is the privacy-focused infrastructure based on tBTC, and the NuCypher company that provides cryptographic access controls for distributed applications and protocols.
Through a debut statement, the merged company explains what its goals are and why it was created:
“In today’s world, compromises are often made between privacy and usability. We surrender our private data with real-time location to hail a cab, our social security number and financial status information to access credit, our photos and browsing data to stay connected online. The consequences of these compromises are real and measurable. Millions of login credentials have been stolen and shared online, bank accounts and phone numbers compromised, our opinions influenced by aggregated data profiles and algorithms that know more about us than we know ourselves. But what if we no longer have to accept this compromise?
Instead, Threshold’s ecosystem deals with distributing sensitive operations to several independent entities, such as nodes in a network.”
To be successful, the operation must see the cooperation of several entities. On this basis, the security and availability of information systems increases disproportionately.
Despite the presence of threats, the system will continue to operate securely.
Before the two companies began working together, they had the common goal of providing user privacy tools on public blockchain in a secure manner. The merger between Keep and NuCypher was also driven by a sense of closeness, brought about by the same principles.
Today, Threshold is one of the most ambitious projects in the privacy field, proposing alternative and very elaborate solutions. Its services include cryptographic protocols that give users control over their data.
A decentralized bridge for Bitcoin and Ethereum, a first for holders of this cryptocurrency. A new way to use it, free of permissions to use it to its fullest, in its DeFi version.
Threshold’s crypto token soars +80%
We have seen it, the project is really ambitious, full of potential and it hits the right chords for users. A strong, stable and secure project must have an equally strong token behind it.
Even though both the project and the token have only recently come into existence, both are breaking into the crypto ecosystem head-on. Threshold’s token has earned its way into the top 100, thanks to its huge performance in the past 24 hours.
The token has nearly doubled in price, thanks in part to the announcement released by Coinbase, which has included it in its roadmap.
Coinbase’s roadmap is the exchange platform’s new system, which is supposed to limit scam cases, and make the listing of crypto assets in the platform more transparent.
More specifically, it is a system that “forces” the US exchange platform to announce every price listing on its list. The purpose is clearly to avoid the (repeatedly occurring) incidents of insider trading in the exchange.
Coinbase’s official website responds as to why new assets are listed all the time:
“Our goal is to list as many assets as possible that meet our legal, technical, and compliance security standards. These standards do not take into account the market capitalization or popularity of a project.”
Hence, even Coinbase has helped boost the price of Threshold’s token, which has entered CoinMarketCap’s ranking. A very useful ranking for those interested in new projects to invest in.
Therefore, even entering a ranking that provides really wide publicity could be a springboard for the company that is the result of the merger of Keep Network and NuCypher.
Provided that indeed one of the trends of 2023 is transparency and security for users, projects like this will certainly grow. The cryptocurrency community is beginning to value those who provide them with a glimmer of certainty, we are seeing that from these events as well. Let’s get ready for a 2023 full of projects in the areas of security and privacy.