What is Threshold (T)?
is a cryptocurrency that focuses on solving the trade-off dilemma between privacy and usability. In the current world, we often sacrifice our privacy to be able to use certain services. Threshold utilizes threshold cryptography to enhance the usability of digital assets without the need for a centralized authority.
Who founded Threshold?
Threshold was formed through the merger of NuCypher and Keep Networks. It is a decentralized network that provides a range of threshold cryptography services for web3 applications. The team behind Threshold consists of experts in the fields of cryptography and blockchain technology.
How does Threshold work?
Threshold utilizes threshold cryptography, where sensitive operations are distributed among multiple independent entities. For an operation to be successful, a minimum number of entities need to collaborate. This increases the security and availability of an information system. It also reduces the reliance on trusted parties, as no single actor can corrupt the system. Even if there are a few malicious individuals, the system will remain secure and functioning correctly as long as a minimum number of participants follow the rules.
What sets Threshold apart?
Threshold distinguishes itself by combining privacy and usability through the use of threshold cryptography. It offers a unique solution to the challenges of user privacy for web3 platforms. Using the Proxy Re-Encryption service, users can store their data anywhere and create customized access policies on the blockchain. The decentralized nodes on the Threshold Network enforce these access policies and securely re-encrypt the data for the intended recipients.
How can Threshold be used in the future?
Threshold can be used for various applications in the future. For example, the Proxy Re-Encryption service is suitable for use cases where data ownership is retained but data sharing is enabled. It can also be used for securely and decentralized bridging of Bitcoin to Ethereum using tBTC v2.
Additional information about Threshold
Threshold is a community-driven project governed by a Decentralized Autonomous Organization (DAO). The T-token powers Threshold, and token holders can support the ecosystem by staking and running a decentralized node on the network. The DAO consists of various components, including the Token Holder DAO, Staker DAO, and Elected Council. Additionally, there are community-led guilds such as the Marketing Guild, Integrations Guild, and Treasury Guild, where members can collaborate based on their interests and expertise.
Can I earn money with Threshold?
Yes, you can earn money with Threshold
by actively staking and running a decentralized node on the network. Additionally, both active stakers and passive token holders can participate in DAO governance decisions regarding the future of the network.