The goal of the Threshold Network is to allow smart contracts to access and manage private encrypted data. The Threshold Network is built on a set of ‘keeps,’ which are off-chain storehouses for encrypted data. When consensus is reached, Threshold Network nodes can jointly decrypt data or transfer access to another party. Threshold Network nodes can act in response to smart contract calls, so the Threshold Network is a bridge between private data and public blockchains.
Threshold Network could be used to build the next generation of decentralized applications, from medical applications and insurance, to social media. As an example, a creator could sell an NFT that automatically unlocks access to private content using the Threshold Network. In the near future, Threshold Network will grow tBTC adoption and likely introduce other cross-chain assets. The protocol is the first-ever merger in crypto history, originally NuCypher and Keep Network.