New Public Chain Keeta: Potential Unicorn or Concept Speculation?

The crypto market always has new challengers trying to break through the technological bottlenecks in the payment sector. Recently, the Keeta Network has attracted a lot of attention with highlights such as "10 million TPS" and "built-in compliance," and its token KTA has recorded a maximum increase of 8 times since May.

However, beneath this dazzling investment halo, can Keeta really become the next unicorn in the industry, or is it merely another meticulously woven concept hype?

Ten Million TPS: Technological Innovation or Marketing Gimmick?

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 native support for multi-token, scalable permission systems, atomic swaps, as well as identity authentication and compliance frameworks enabled by digital certificates.

To understand the concept of 10 million TPS, we can compare it with the processing capabilities of traditional payment giants: a well-known payment platform has a transaction processing capacity of about 544,000 transactions per second during peak periods, while the average processing volume of the world's largest credit card network is about several thousand transactions per second, peaking at tens of thousands of transactions. Keeta's claimed 10 million TPS not only far exceeds these centralized payment giants but also significantly outpaces existing mainstream public chains (such as a certain public chain claiming about 65,000 TPS).

Such a huge performance gap inevitably raises questions about the authenticity and feasibility of its technical indicators. Is this merely a theoretical processing capability limit, or is it an actual application layer processing capability validated by the market?

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 been applied in several well-known public chains, and its advantage lies in high efficiency; however, it may lead to a certain degree of centralization due to the limited number of block producers. The DAG structure theoretically possesses high concurrency processing capabilities, but it 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 on how it overcomes the aforementioned challenges and achieves millions of TPS, lacking more implementation details and results.

Although this technological route may theoretically achieve a so-called million TPS, it still seems difficult to break through the limits of the "impossible triangle", where security and decentralization may be compromised at extremely high efficiency. The test results published by Keeta show a maximum TPS of 13 million, but there were only 5 nodes participating in the test, raising doubts about the reference value of these results in such an environment.

Overall, Keeta's technical promotion is attractive, but it currently resembles a beautifully crafted "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 strength.

Capital and Operations Behind the Market Boom

The Keeta testnet has gone live, and from the current operating status of the testnet, the TPS is basically maintained below 5000. The number of displayed transactions 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 on the testnet.

So, why can a project with unclear key data attract such high market attention in a short period, especially with its token KTA experiencing a surge in May 2025?

The most direct and well-known reason is the investment and endorsement from the former CEO of a well-known technology company. In 2023, this CEO and a venture capital firm led a seed round financing of up to $17 million for Keeta and served as a project advisor. Additionally, the CEO of Keeta was also a partner at the venture capital firm. This "high-tech halo" quickly boosted Keeta's visibility and market trust.

In March 2025, Keeta's governance token was suddenly launched on a certain Layer 2 chain without any prior notice. This method of listing, similar to that of MEME coins, sparked discussions in the market, and people were naturally surprised to find a VC-backed project among the many short-term speculative tokens.

Starting from May 6, the KTA token began to rise significantly, increasing from a low of $0.1 to a high of $0.83, more than an 8-fold increase. However, discussions on social media regarding the reasons for the rise of KTA are not clear, mostly consisting of price discussions triggered by the market surge and vague future expectations.

Concerns Behind Potential

The team configuration of Keeta is typical of an elite faction. The CEO has entrepreneurial experience, while the CTO comes from a major cloud computing giant and a cryptocurrency foundation.

However, from the perspective of community ecology and market transparency, Keeta's performance appears somewhat complex. Although official social media channels have been established, the level of community activity and developer participation seems to be mismatched compared to its market popularity. As of May 20, the official Twitter follower count for Keeta is approximately 12,000. Most of the information released by the official channels focuses on the expression of technical goals, while information about other partner organizations is relatively scarce.

In addition, the KTA token is currently listed mainly on several mainstream decentralized trading platforms and has not yet entered most mainstream centralized exchanges. Of course, potential listing opportunities may also be a factor driving the price increase of the KTA token.

Regarding token economics, official materials indicate that 50% is allocated to the community, with 80% unlocked during the initial issuance phase, and the remaining portion will be unlocked over 48 months. However, prior to the initial issuance, the specific controlling party of this portion of tokens remains unclear due to the lack of a defined community incentive plan and standards. As of May 20, KTA has 72,000 holders, with many large holder addresses acquiring tokens through smart contract distribution rather than through trading, but the specific basis for this distribution is still unclear.

In a comprehensive assessment, Keeta possesses certain elements that qualify it as a "potential stock" in terms of investor background, technical narrative, and team experience. However, it still has significant shortcomings and uncertainties in several areas, including information transparency, core technology validation, community ecosystem development, and long-term risk control. If these "hidden concerns" are not effectively addressed, even the most dazzling halo may only be fleeting.

Keeta currently presents a complex situation of both potential and risk. It could become a dark horse that disrupts the industry, or it may return to mediocrity due to an inability to fulfill its promises or failing to effectively break through in the fierce competition of public chains. Investors and market observers must remain acutely aware of the risks and the many unanswered questions that lie behind the opportunities it presents. The future of Keeta depends on its ability to steadily transform its technological goals into reality, and this path to value realization is destined to be full of challenges.