The Threshold network provides and maintains a suite of cryptographic primitives for several dApps. The network is the product of the protocol merger between the Keep Network and NuCypher, which was finalized on January 1, 2022 with the launch of the T token.
## What is the T token?
The T token is both a utility token for the Threshold Network and a governance token for the Threshold DAO.
## What is the T token used for?
The T token is primarily used to stake a node. Node operators receive fees from various applications that rely on the Threshold network’s cryptographic primitives.
The T token is also a governance token and users can lock the token in coverage pools to earn yield in exchange for underwriting collateral risk in the network.
## What are Threshold’s primitives and the use-cases?
Threshold provides a suite of cryptographic building blocks for privacy, access controls, and cross-chain bridges, including:
* Proxy re-encryption (PRE)
* Threshold signatures (TSS)
* Distributed key generation (DKG)
* Random beacon (RB)
## What is tBTC?
tBTC is Threshold’s flagship application. tBTC is tokenized Bitcoin that is completely permissionless (i.e. has no custodian), which allows anyone to tokenize their Bitcoin and use it in DeFi applications without sacrificing privacy or risking censorship.
## Early History of Threshold
Keep and NuCypher were merged into the Threshold Network in a decentralized on-chain merger. The idea to merge the two networks was first proposed by the community in February of 2021. The first iteration of the proposal to merge was posted to the Keep Network forum in March. The final proposal rc0 defined the terms of the merger and was approved in June of 2021 by both communities, with a snapshot vote for Keep and NuCypher token holders.
## T Supply Details
* 10B initial supply
* 4.5B allocated to NU holders
* 4.5B allocated to KEEP holders
* 1B allocated to Threshold DAO
How to Buy T on an Exchange
Step 1: Choose a Reputable Exchange Platform
Select a trusted platform from among many available options for purchasing T. Some reputable platforms include HTX、Bybit、Bitget, and others.
Step 2: Register an Account
Here, we'll register an account on the Bybit(registration link) trading platform. You may need to provide personal information such as phone number and email to complete the registration process.
Step 3: Complete Identity Verification
For security purposes, some platforms may require you to complete identity verification. Follow the platform's instructions to provide necessary identity information (such as country/ID number) and undergo facial recognition. Once your identity is confirmed, you'll receive notification.
Step 4: Link Bank or Payment Method
Link your bank account or other payment methods to the exchange platform for making payments when purchasing T.
Step 5: Purchase T
Find the option to buy coins on the exchange platform, choose the C2C coin purchase process, and then input the quantity of T you wish to purchase. Typically, you'll choose to buy USDT first and select your preferred payment method. Simply place the order, make the payment to the seller, and you'll receive the cryptocurrency. Once payment is complete, you can use your exchange assets to buy T.
Step 6: Store Your T
After purchasing, you can choose to store your T in the digital wallet provided by the exchange platform or transfer it to a hardware wallet under your control.
Step 7: Security Reminder
To protect your exchange account and T assets, be sure to use a strong password and enable two-factor authentication.
T Price:Threshold is a decentralized network formed by the merger of Keep Network and NuCypher, combining their strengths to deliver enhanced cryptographic services and decentralized finance (DeFi) solutions.The price fluctuates daily, you can go to the exchange: Bybitto check the price.
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