What is Threshold (T)?

T is the native utility token of Threshold, the product of a first-ever on-chain merge between two existing networks, Keep and NuCypher. This merger combines Keep Network's structural features with NuCypher's privacy aspects, creating a suite of cryptography services within Threshold. The services unlock new utility and usability for digital assets without relying on any centralized third party, solving the privacy and ownership issues. At the heart of these flagship services in Threshold Network is tBTC, a Bitcoin-backed token that allows users to bridge Bitcoin to Ethereum and cross-chain DeFi ecosystem. Another key component of Threshold is TACo (Threshold Access Control), a trust-minimized access control layer that enables end-to-end data sharing and communication encryption without trusting any centralized authority.

The entire Threshold ecosystem is community-driven and governed by a DAO, where its native token, T, plays a crucial role. Every member of this DAO must hold a T token to participate in the governance process. It also offers ways to earn staking rewards to its holders through participation in the proof-of-stake (PoS) consensus algorithm. Users can also lock the token in the platform’s liquidity pools to earn yield in exchange for providing collateral risk to the network.

While T has no capped maximum supply, it was launched with 10 billion initial supply. 4.5 billion T tokens of this supply were allocated for KEEP and NuCypher holders each. The remaining 1 billion was allocated to the Threshold DAO.

How Does Threshold (T) Work?

Threshold is known for delivering a suite of threshold cryptography services to Web3 applications in a secure and private atmosphere. These services include a proxy re-encryption service (PRE), tBTC (tokenized Bitcoin), and TACo (Threshold Access Control).

PRE is cryptographic middleware that preserves user privacy through an end-to-end encryption protocol. The nodes of the Threshold Network act as proxy entities and use threshold cryptography to securely re-encrypt data for recipients. For instance, if a user X wants to share data with another user or application securely, then traditionally, X would have to trust a centralized service for data encryption. However, the PRE service of Threshold enables X to store their encrypted data anywhere and determine who can access it in a decentralized way. A group of decentralized nodes guard this data, which is encrypted in the Threshold network, to ensure the access policy proposed by X is enforced. These nodes themselves are unable to access the underlying data. Each node can only re-encrypt a data fragment; thus, fully decrypting data requires a threshold number of nodes to access.

The next flagship product of the Threshold ecosystem is tBTC, which acts as a bridge connecting Bitcoin toEthereum without involving any third party. For that, it gives Bitcoin holders permissionless access to DeFi under the overview of a selected group of node operators who work together to secure users deposited BTC through Threshold cryptography. Most of these operators must agree to let anyone access or perform any action with the deposited Bitcoin. The group of operators rotates weekly to protect the network against any planned seizing.

Another crucial component of Threshold ID TACo, aka Threshold Access Control, facilitates end-to-end encrypted data sharing and communication without trusting any centralized authority. In the Threshold ecosystem, a distributed set of machine nodes manages access to all data encrypted using a TACo approach.

As Threshold's native token, T functions for utility and governance purposes. It powers the platform's PoS (proof-of-stake) consensus by allowing users to stake their T holdings and become validators for receiving network rewards. The number of T staked by a user directly impacts the reward they receive. Moreover, the holders of T also enjoy voting rights in the Threshold DAO, keeping the ecosystem community-driven and decentralized.

Threshold DAO comprises two primary bodies: the Token Holder DAO and the Elected Council. This two-pronged structure helps enhance representation, divide responsibilities, and increase accountability. The members of the TokenHolder DAO manage the treasury, token issuance, and network governance together via decentralized voting. To be a part of this DAO, T token holdings are required. On the other hand, the Elected council of members decides the incentives for stakers. Both councils have the right to veto proposals.

How to Buy Threshold (T) in India?

There are many platforms where you can invest and buy Threshold (T) token in India.

One such platform is Flitpay. To buy Threshold (T) in INR, you have to sign up to Flitpay, where you will have to enter the required details and go through a small KYC verification process.

After the KYC approval, ensure you have correctly entered your bank details. Now, through the linked bank account, deposit the amount you want to buy Threshold (T) and execute the purchase.

You can instantly convert your INR to Threshold (T) and Threshold (T) to INR and withdraw your INR through bank transfers whenever you want.

Flitpay also keeps introducing timely rewards for its users.

What to Do After Buying Threshold (T)?

Threshold (T) can be used to buy other cryptocurrencies after converting them to INR through crypto exchange platforms like FLITPAY. You can also hold the T till it reaches a high price, and then you can sell it through Flitpay's OTC order facility. Users can earn significant profits from buying it at a lower price and selling it at a higher price.

FAQs

What is Threshold (T)?

T is the utility-cum-governance token of the Threshold ecosystem. It empowers its holders with voting powers in the Threshold DAO and staking option to earn network rewards. T has no capped maximum supply.

What is the Threshold (T) price in India?

Check out the current INR price of Threshold crypto in India on Flitpay.

Which is the safest crypto app in India to buy Threshold?

Flitpay is the safest crypto app in India to buy Threshold, buy bitcoin, or your favourite cryptocurrencies. Flitpay supports instant UPI and bank deposits and bank withdrawals with a minimum deposit and withdrawal limit of INR 100.

What are the benefits of Threshold (T)?

Threshold (T) offers several unique benefits, making it a compelling choice in the blockchain and cryptocurrency space. Its core strength lies in its ability to ensure privacy and ownership of digital assets through robust cryptographic services. Additionally, its tBTC bridge facilitates seamless exposure of Bitcoin to decentralized finance (DeFi) in the Ethereum networks without third-party dependency.  The trust-minimized access control provided by TACo further enhances privacy by enabling encrypted data sharing without involving centralized authorities. Threshold's community-driven governance model, powered by T token holders, maintains decentralized decision-making.

Is it safe to invest in Threshold (T) in India?

Yes, investing and trading Threshold (T) is Safe in India. Flitpay is one of India's most secure cryptocurrency exchanges for buying T crypto. It offers real-time prices and advanced investing features.

Where can I deposit and withdraw Threshold (T) crypto in India?

Your search for secure crypto deposits and withdrawals ends here. Flitpay is India's most trusted exchange to facilitate hassle-free and Instant deposits and withdrawals of all the top cryptocurrencies with minimal or no fees.