Keeta Network: Potential Unicorn or Castle in the Air?

The crypto market is full of stories about challengers, and Keeta Network has recently become the latest challenger in the "impossible triangle" of the payment field. With grand visions such as "tens of millions of TPS" and "built-in compliance", as well as the significant increase of its token KTA since May, Keeta has quickly attracted market attention and capital favor.

However, under this dazzling investment aura, is Keeta truly a potential unicorn, or just another meticulously planned bubble? Let’s delve deeper.

Millions of TPS: Technological Innovation or Exaggerated Claims?

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 goals include: achieving transaction processing speeds of up to 10 million TPS, a transaction finality time of 400 milliseconds, extremely low transaction fees, and the native integration of multi-token support, scalable permission systems, atomic swaps, and a digital identity and compliance framework enabled by X.509 certificates.

To understand the concept of 10 million TPS, we can compare it with existing payment systems. Alipay's transaction processing capability during peak periods is about 544,000 transactions per second, while Visa's global network averages several thousand transactions per second, peaking at tens of thousands. Keeta's claimed 10 million TPS not only far exceeds these centralized payment giants, but also significantly outpaces existing mainstream public chains.

This huge gap inevitably raises doubts about the authenticity and feasibility of its technical indicators. Is this merely a theoretical upper limit of processing capability, or is it a practical application layer processing capability validated by the market?

From a technical perspective, Keeta adopts a hybrid architecture of the dPoS consensus mechanism and the "virtual directed acyclic graph" (virtual DAG). The dPoS mechanism is widely used in public chains such as EOS and Tron, and its advantage lies in high efficiency, but it may lead to a certain degree of centralization due to the limited number of block producers. The DAG structure theoretically has high concurrency processing potential, but it also faces challenges such as high computational overhead, complex confirmation rules, and specific attack vulnerabilities.

Keeta claims that its "virtual DAG" is an innovative design, but how it specifically overcomes the above challenges and achieves millions of TPS is mainly provided in the white paper and existing technical documents in terms of design concepts and goals, lacking more implementation details and results.

This technical route theoretically has the potential to achieve so-called millions of TPS. However, it seems still difficult to break the limitations of the "impossible triangle," which requires compromises in security and decentralization under extremely high efficiency. The test results released in the Keeta white paper show that the maximum test TPS reached 13 million, but there were only 5 nodes participating in the test. Whether the results obtained in such an environment have reference value remains questionable.

Overall, Keeta's technological promotion is quite enticing, but it currently resembles a sophisticated "black box". Before the core data is validated, the code undergoes rigorous scrutiny, and the governance model is clarified, the market's enthusiasm may stem more from a gamble on its "potential" rather than a confirmation of its capabilities.

Capital and Operations Behind the Market Frenzy

The Keeta testnet has been launched, but based on the current operation status of the testnet, the TPS remains below 5000. The number of transactions displayed has exceeded 890 million, but there is a lack of more information explaining the source of this test data and the current number of nodes in the testnet.

So, why can a project with such key data being somewhat vague attract such high market attention in a short period, especially considering the significant increase in its token KTA in May 2025?

The most direct and widely noted reason is undoubtedly the investment and endorsement from a well-known investor. In 2023, this investor, along with the venture capital firm Steel Perlot, led a seed round financing of up to $17 million for Keeta and served as a project advisor. Additionally, Keeta CEO Ty Schenk was also a partner at Steel Perlot. This "investment halo" rapidly boosted Keeta's visibility and market trust.

In March 2025, Keeta's governance token was launched on the Base chain without any warning. Initially, the community believed this was a case of the project team's official media being hacked, but the subsequent official response confirmed that this was indeed an official token launch. The founder stated that this launch method was chosen because they did not consider marketing. However, this launch method, similar to MEME coins, sparked heated discussions in the market.

Starting from May 6, the KTA token began to rise sharply, increasing from a low of $0.1 to a high of $0.83, with the maximum increase exceeding 8 times. However, discussions on social media regarding the reasons for the rise in KTA seem to lack clear sources, mainly focusing on price fluctuations and vague future expectations.

Concerns Behind Potential

Keeta's team configuration typically reflects an elite path. CEO Ty Schenk has entrepreneurial experience with BrainBlocks, while CTO Roy Keene comes from a well-known tech company and a cryptocurrency foundation. It is reported that Roy Keene left due to differences in philosophy regarding the adoption and incentive mechanisms of that cryptocurrency organization.

However, examining its community ecosystem and market transparency, Keeta's performance appears somewhat complex. Although official social media channels have been established, the community's activity and developer participation seem not to fully match its market popularity. As of May 20, Keeta's official social media followers number around 12,000. Additionally, the information released by the officials tends to focus heavily on its technical goals, while content regarding other partner organizations is relatively scarce.

In addition, the KTA token has not yet been listed on other mainstream trading platforms besides being available on several major decentralized exchanges. Of course, potential listing opportunities could be a factor driving the increase in the KTA token.

Regarding token economics, official materials indicate that 50% is allocated to the community, with 80% unlocked during the initial token issuance phase. The remaining portion will be gradually unlocked over a period of 48 months. However, prior to the initial issuance, the specific controlling parties for this portion of tokens remain unclear due to the lack of a defined community incentive plan and standards. As of May 20th, KTA has 72,000 holders, and many large holder addresses obtained their tokens through smart contract distribution rather than trading, but the specific reasons for this method of token acquisition remain unknown.

Overall assessment shows that Keeta possesses certain elements to become a "potential stock" in terms of investor background, technical narrative, and team experience. However, it still has significant shortcomings and uncertainties in several areas, such as information transparency, core technology validation, community ecosystem building, and long-term risk control. If these "concerns" cannot be effectively addressed, even the most brilliant halo may only be fleeting.

Keeta currently presents a complex situation of both potential and risk. It could be a dark horse that disrupts the industry, or it may fall into mediocrity if it fails to deliver on its promises or cannot effectively break through in the fierce competition of public chains. Investors and market observers need to be aware of the opportunities it presents while also recognizing the risks and many unanswered questions that lie behind it. The future of Keeta depends on whether it can steadily translate its technological goals into reality, and this path to realizing value is bound to be long and arduous.