Threshold Network (T)

Decentralized Finance (DeFi)

Threshold Network enables secure, permissionless financial operations like tBTC, a decentralized Bitcoin-to-Ethereum bridge that allows users to use Bitcoin on Ethereum-based DeFi platforms.

Privacy and Data Security

It offers proxy re-encryption services that let users control who can access their encrypted data without revealing the data itself. This helps with secure data sharing, paid subscriptions to encrypted content, and managing encrypted NFTs.

Network Governance and Staking

The Threshold Network token (T) is used for staking nodes, securing the network, and participating in governance decisions, allowing token holders to vote on proposals and upgrades.

Cryptographic Services for Web3

Threshold provides threshold cryptography tools such as proxy re-encryption, threshold signatures, and distributed key generation. These tools help build privacy-preserving applications and decentralized custody solutions without relying on a central authority.

Pros

• Enhanced security through threshold cryptography, which splits sensitive operations across multiple independent nodes, making the system more secure and reliable.
• Decentralized network combining Keep Network and NuCypher, offering strong privacy and user control over digital assets.
• Supports proxy re-encryption, allowing secure data sharing without revealing the original data.
• Enables permissionless Bitcoin-to-Ethereum bridging (tBTC), allowing Bitcoin holders to use DeFi services easily.
• Active community and governance model that encourages participation and rewards for stakers.

Cons

• Complexity of the technology may be challenging for new users to understand.
• As a relatively new network (launched in 2022), it may face adoption and integration hurdles.
• Reliance on a minimum number of cooperating nodes means network performance depends on node availability.
• Competition with other privacy and bridging solutions in the crypto space.

Founders

Threshold Network was created by the merger of two projects: Keep Network and NuCypher. The main founders are Matt Luongo (founder of Keep Network) and MacLane Wilkison and Michael Egorov (founders of NuCypher).

Key Investors

Michael Egorov, Hashcow Group, AladdinDAO, and The A-Team participated in the Angel Round of investments in April 2024.

Additional Support

Lambda Finance raised seed funding from A TEAM DEFI and six other investors in April 2024.

These investors helped support Threshold Network's early development and growth.

Halal Status

Yes, Threshold Network is considered halal. This is because its staking mechanism is based on work contribution rather than interest-bearing loans, which aligns with Islamic finance principles. The project earns revenue through service fees instead of interest.