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.

Threshold provides a suite of cryptographic building blocks for privacy, access controls, and cross-chain bridges, including: * Proxy re-encryption (PRE) (https://en.wikipedia.org/wiki/Proxy_re-encryption) * Threshold signatures (TSS) (https://academy.binance.com/en/articles/threshold-signatures-explained) * Distributed key generation (DKG) (https://en.wikipedia.org/wiki/Distributed_key_generation) * Random beacon (RB) (https://blog.keep.network/whats-in-a-beacon-12c34b0bc078)

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.

The T token is both a utility token for the Threshold Network and a governance token for the Threshold DAO.

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.