Keeta Network: The Potential and Controversies of a New L1 Public Chain

The crypto market is never short of stories about challengers, and the recently spotlighted Keeta Network is attempting to carve out a new space in the payment sector. With its claimed "tens of millions of TPS" and "built-in compliance" features, along with its token KTA soaring up to 8 times since May of this year, Keeta has quickly become the focus of the market.

However, beneath this dazzling investment halo, is Keeta truly as revolutionary as it claims to be? Let's delve deeper.

Technological Vision: Feasibility and Challenges

Keeta Network positions itself as a revolutionary Layer-1 solution aimed at integrating global payment networks and facilitating the efficient circulation of physical assets. Its core technological objectives include achieving transaction processing speeds of up to 10 million TPS, a transaction finality time of 400 milliseconds, extremely low transaction fees, and native integration of multi-token support, a scalable permission system, atomic swaps, and a digital identity and KYC/AML compliance framework implemented through X.509 certificates.

These figures far exceed the processing capabilities of existing payment systems and mainstream public blockchains. For example, a well-known payment platform has a processing capacity of about 544,000 transactions per second during peak times, while the average processing volume of a certain international credit card organization's global network is only several thousand transactions per second. Moreover, the TPS of existing mainstream public blockchains is also far below what Keeta claims.

From a technical perspective, Keeta adopts a hybrid architecture of the dPoS consensus mechanism and "virtual directed acyclic graph" (virtual DAG). The dPoS mechanism has advantages in efficiency but may lead to centralization risks due to the limited number of block producers. The DAG structure theoretically has high concurrency processing potential but also faces challenges such as high computational overhead and complex confirmation rules.

Keeta claims that its "virtual DAG" is an innovative design, but the existing technical documentation mainly provides design concepts and goals, lacking specific implementation details. The test results published in its white paper show that the maximum tested TPS reached 13 million, but only 5 nodes participated in the test, raising doubts about the reliability of the test results in such an environment.

Market Heat and Capital Background

Despite the unclear technical details, Keeta has still generated significant market attention, with its token KTA experiencing a notable increase in a short period. This enthusiasm mainly stems from several factors:

1. Executive Background: The investment and endorsement from the former CEO of a well-known technology company adds credibility to Keeta.

2. Financing Scale: In 2023, Keeta completed a seed round financing of 17 million USD.

3. Launch Strategy: The KTA token suddenly launched without any prior notice, sparking market discussions.

4. Technical Narrative: High-profile promotions such as "tens of thousands of TPS" have attracted the attention of investors.

However, there is no clear explanation on social media regarding the reasons for the surge in KTA tokens, with more discussions about the price and vague future expectations.

Potential Risks and Uncertainties

Although Keeta shows some qualities of a "potential stock" in certain aspects, there are still several issues worth noting.

1. Information transparency: Core technical details and verification results have not been fully disclosed.

2. Community Ecosystem: Compared to market popularity, the community activity level and developer participation seem to be mismatched.

3. Token economics: Although the token distribution plan has been announced, the specific implementation standards for community incentives are still unclear.

4. Exchange support: Except for a few decentralized exchanges, KTA's availability on mainstream trading platforms is limited.

5. Long-term development: It remains uncertain whether Keeta can effectively break through in the intense competition of public chains.

In summary, the Keeta Network presents a situation of both potential and risk. It may become an industry disruptor, or it may lose market confidence due to its inability to deliver on promises. While investors focus on its opportunities, they must also carefully assess the potential risks. The future development of Keeta will depend on whether it can gradually turn its ambitious technological goals into reality.