Although the cryptocurrency market is in winter conditions, altcoin projects continue on their way with upgrades and updates. Keep3r Network announced today what it calls ‘its biggest upgrade to date’.
The biggest update in the history of this altcoin project is coming!
The altcoin project made an announcement today regarding the update, which it calls ‘Keep3r Network’s biggest upgrade to date’. Keep3r noted that this upgrade includes new features that make the network more powerful, efficient and accessible than ever before.
According to Keep3r’s description, one of the most important updates is a new multi-chain system. This update will allow business providers to access the network’s automation capabilities on different Blockchains. He states that this will make it the first autonomous protective network to support multi-chain functionality in DeFi.
In addition, the altcoin says they are leveraging data bridging from ConnextNetwork, which provides trust-minimized communication between domains to enable cross-chain communication. Meanwhile, he notes that they also use the Optimism Rollup Bridge and the native Polygon Bridge for communication with minimized trust. He adds that they also offer a side-chain oracle solution. Keep3r highlights that its user interfaces have been upgraded to support multi-chain features in Mainnet, Optimism, Polygon, Goerli, and Optimistic Goerli.
It also says that guard Scripts have been updated to make it even easier for watchdogs to start new jobs with a single command. Additionally, he underlines that they have made changes to their reward mechanisms that solve one of the biggest problems with smart contracts and Keep3r Network. With these new upgrades, Keep3r states that it is the first decentralized and autonomous protective network to offer support for multi-chain functionality in DeFi.
Such news of upgrades and updates normally act as a positive catalyst for the respective altcoin and increase its price. However, risky assets were sold today as US PCE data came in better than expected. This broke the impact of Keep3r’s upgrade news. At press time, the altcoin was trading at $92.55, down 3.35% on a daily basis.
A brief look at Keep3r Network
Keep3rV1 is a decentralized platform designed to facilitate coordination between projects that need to provide resources outside of development operations and those who can provide these necessary services. In essence, the project acts as a job board that facilitates interaction between job postings, such as decentralized finance protocols, and those running the business, known as Keepers. Tasks performed by guardians range from sending and calling on-chain transactions to completing complex off-chain transactions. Keep3rV1 uses an ERC-20 token, KP3R, to provide governance and rewards to Protectors.
The project was first announced on October 22, 2020. It was launched in beta mode on the Ethereum main net on October 28, 2020. Meanwhile, Keep3rV1 was founded by Andre Cronje, a blockchain engineer and app developer. Cronje previously served as head of innovation and technology at the Fusion Foundation, the organization behind the Fusion protocol, where he led initiatives related to decentralized applications, technology partnerships and implementations.
Keep3rV1 aims to reduce the maintenance costs faced by Blockchain-based projects that use large numbers of smart contracts to power increasingly complex systems. These projects often require external actors to complete tasks, and Keep3rV1 was designed to be a decentralized ecosystem for projects and developers to work together more efficiently. The network relies on Guardians providing smart contracts, bots or scripts that can execute transactions or trigger events. To use the platform, a project offers a smart contract that is reviewed and approved by a connected Watchman that takes the KP3R and locks it in the platform.
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