CoinRemix ICO Review: Keep Network
Using private data on public blockchains
You have decided to finally get around to writing your will.
What better place to create it than on the blockchain? You decide to use a decentralized estate service to ensure your assets are correctly distributed to your loved ones, without room for misinterpretation, or manipulation. The promises are irrevocable, the code is final
You’ve spent months deciding on allocations, and hours listing out all your assets. After an eternity of back-and-forth, you’re finally ready to commit your will into an estate smart contract, and write that data permanently to the blockchain.
Phew, glad you finally got around to doing that, right?
Right — but you might have overlooked one minor detail: by writing your estate to the blockchain, the contents of your will is now public knowledge, to anyone and everyone.
This is not an ideal outcome when your family members are fighting over who gets what, and your personal assets are now open record for the world to scrutinize.
Blockchain can be trusted for correctness, but not for privacy.
At CoinRemix we create in-depth ICO reviews. Our first review, Dragonchain, a private chain solution to keep private data and business logic secure, is currently sitting at a 40x return since ICO.
Keep Network
We’ve been looking at Keep Network, a project that provides a way for smart contracts on public blockchains to access private data that is stored securely off-chain.
Keep Network is interesting because it addresses a gap in the core functionality of smart contracts built with Ethereum.
Anyone can view the code and content of any transaction or smart contract on the network. While this doesn’t pose a problem for many blockchain applications, there are plenty of use cases which require smart contracts to access private data: think private files, proprietary business logic, medical records and, as we saw earlier, wills — amongst plenty of other legal documents.
Keep Network is an Ethereum smart contract that provides a sMPC Oracle for private data. We unbundle exactly what this means in our Keep Network in-depth ICO review.
Do you wish you could know more about the actual technologies you are investing in as part of your crypto portfolio? ICO whitepapers are highly technical and often have complex formulas — or vague details — describing the underlying technology. Our mission is to dispel the hype and help you make sense of these blockchain technologies and invest with more confidence.
Our team has deep-dived into the technical details of Keep’s proposed solution, the areas of application where this technology might actually play a role, the team composition, competitors working in the same space, and the structure of the token sale itself.
