NuCypher and Keep Ethereum Projects Merge, Launch Set for August
Two renowned protocols created from the 2017/2018 original coin offering period have decided to unite.
The two projects are NuCypher and Keep, and they’ll merge to form KEANU. The reason cited for the merger is the fact that they would have encountered stiff competition, which would have only resulted in more energy wastage.
In the name of genuine decentralized entrepreneurship, the two data encryption service providers opted to pool their resources.
This will allow their ventures to carry on with their business strategies, independently, but by utilizing common blockchain infrastructure.
Think of it as Mars and Hershey candy firms deciding to consolidate their factories while still retaining their independent identities as brands.
Commenting on the merger through a spokesperson, Matt Luongo, the CEO of Thesis, stated that they hope to accomplish more by merging their resources. Thesis is the mastermind company behind the creation of Keep.
The merger has been dubbed Keanu as a tribute to the prominent actor who stars in “The Matrix”. More importantly, this merger is a grand event in the crypto world, and it was almost expected.
Given that the majority of projects began by using tokens and governance tools, there was bound to come a time when mergers would happen.
Keanu gives a brief insight into how these mergers are likely to occur. Specifically, many anticipate that such ventures will utilize the crypto-native organizational structure called DAO (distributed autonomous organization).
Commenting about the merger through an email, NuCypher’s CEO, MacLane Wilkison, remarked that KEANU would be the first merger of its kind, that is, between two decentralized networks.
He added that there had been a couple of community proposals that had been brought forward before finally settling on the proposal that saw the two communities come together.
NuCypher posted an article explaining that the new project will result in the creation of a new token dubbed T. 10% of this token will be put away for the DAO. The remainder will be split halfway, with 50% going to Keep’s token holders and the other 50% to NuCypher’s.
The involved parties anticipate that the launch of the new platform will take place in August.