What is Threshold Network?
Threshold Network is a decentralized platform focused on enhancing privacy and security for blockchain applications through advanced cryptographic techniques. It was established by merging Keep Network and NuCypher, two projects known for their expertise in secure data storage, encryption, and decentralized key management. Threshold Network leverages threshold cryptography to distribute sensitive operations across multiple independent entities, ensuring a high level of security and reducing reliance on any single trusted party. The network is governed by the Threshold DAO, a decentralized autonomous organization that oversees its development and manages its native token, T.
A key product of Threshold Network is tBTC, a decentralized and permissionless bridge that enables Bitcoin holders to bring their BTC onto the Ethereum blockchain. By converting Bitcoin into tBTC, an ERC-20 token fully backed by Bitcoin, users can access Ethereum's decentralized finance (DeFi) ecosystem, participating in lending, trading, and yield farming while retaining the value of Bitcoin. tBTC uses threshold cryptography to ensure that Bitcoin deposits are securely managed by a distributed network of operators, minimizing the risk of censorship or fraud. This makes tBTC a trustworthy and decentralized solution for integrating Bitcoin into Ethereum's DeFi landscape.