With an 8-fold rise in a single month, Google Halo and tens of millions of TPS are blessed, is the new L1 Keeta a potential stock or a speculation concept?

By Frank, PANews

There is no shortage of "dragon slayer" stories in the crypto market, and the recent Keeta Network is undoubtedly the latest challenger to try to swing the sword again into the "impossible triangle" in the payment space. With high-profile narratives such as "10 million TPS" and "built-in compliance", as well as the astonishing increase of its token KTA of up to 8 times since May, Keeta quickly gathered the attention of the market and the pursuit of capital.

However, under this dazzling halo of former Google CEO investment, is Keeta a veritable potential unicorn, or another carefully woven "feast of air"?

Tens of millions of TPS, whether it is a gimmick or strength

Keeta Network positions itself as a revolutionary Layer-1 solution that aims to unify global payment networks and enable efficient RWA flows. Its core technology goals include transaction processing speeds of up to 10 million TPS, 400 milliseconds of transaction confirmation time, extremely low transaction fees (officially only a few cents), and native integration of multi-token support, an extensible permission system, atomic swaps, and a digital identity and KYC/AML compliance framework via X.509 certificates. Some early sources even mention a higher target of 50 million TPS.

Before we explore the possibilities, we may need to understand what 10 million TPS is. Compared with traditional payment giants, such as Alipay, which announced a transaction processing capacity of about 544,000 transactions per second during peak periods such as "Double 11", the average processing capacity of Visa's global network is about thousands of transactions per second, with a peak of tens of thousands. Keeta's claimed 10 million TPS not only far exceeds these centralised payment giants, but also significantly ahead of the existing mainstream public chains (such as Solana's claim of about 65,000 TPS).

Such a huge difference of order of magnitude raises questions about the authenticity and achievability of its technical indicators. Is this the theoretical upper limit of the underlying raw throughput capacity of the blockchain, or the processing capacity of the application layer that has been verified by the market?

From the perspective of technical roadmap, Keeta's white paper explains that it adopts a hybrid architecture of dPoS consensus mechanism and a "virtual DAG". The dPoS mechanism itself has been widely used in public chains such as EOS and Tron, and its advantage lies in high efficiency, but the potential risk is that it may lead to a certain degree of centralisation due to the limited number of block producers. DAG structures, such as IOTA, Nano and other projects have been tried, and theoretically have the potential to process high concurrency and solve the bottleneck of linear confirmation of traditional blockchains. Academic studies generally believe that DAG-based consensus algorithms have higher throughput potential, but they also face challenges such as high computational overhead, complex confirmation rules, and vulnerability to specific attacks.

Keeta claims that its "virtual DAG" is an innovative design, but how to overcome the above challenges and achieve tens of millions of TPS mainly provides the design concept and goals in the white paper and existing technical documents, but does not indicate more implementation details and results.

In theory, it is possible to achieve the so-called 10 million TPS. But it still seems unlikely that the "impossible triangle" will be broken, i.e., the compromise and weakening of security and decentralisation under extreme efficiency. According to the test results published in the Keeta white paper, the maximum test TPS reached 13 million, but only 5 nodes participated in the test. There are still great doubts about whether the results tested in this environment have reference value.

In a word, Keeta's tech pitch is seductive, but it still resembles a polished "black box" for now. Until the core data is validated, the code is scrutinised, and the governance model is clarified, the frenzy of the market may stem more from a big bet on its "potential" than from a confirmation of its strength.

The phantom of capital and operations behind the market heatwave

Now that the Keeta testnet is live, PANews is trying to understand its performance and related data through the testnet browser. Judging from the current operating state of the testnet, the current TPS is basically maintained below 5000. The number of transactions shown has exceeded 890 million, but there is no more information to show which applications the test data comes from and how many nodes are currently on the testnet.

So, why did such a slightly "foggy" project in terms of key data attract so much attention in the short term, especially the skyrocketing price experienced by its token KTA in May 2025?

The most direct and widely cited reason is undoubtedly the investment and endorsement of former Google CEO Eric Schmidt. In 2023, Eric Schmidt and venture capital firm Steel Perlot led Keeta's $17 million seed round and served as project advisers. In addition, Keeta CEO Ty Schenk was also a partner at Steel Perlot. This "Google halo" has quickly increased Keeta's popularity and market trust. It was not until recently that Keeta began to attract market attention through the multiple Fomo endorsements of "tens of millions of TPS + Google CEO endorsement + silent TGE".

In March 2025, Keeta's governance token was quietly launched on the Base Chain without announcing any information in advance. At first, the community thought it was another incident of theft of the project's official media. But then the official response and proof that this is indeed the official listing token. Its founders said that the reason for this online approach was because marketing was not considered. But in fact, this kind of MEME coin-like listing method has sparked discussion in the market (and people will be even more surprised when they find a VC project with a background in countless quick meme markets).

Since May 6, the KTA token has begun to usher in a sharp rise, from a minimum of 0.1 to a maximum of $0.83, an increase of more than 8 times. But it seems that there is no clear source on social media about the reason for the KTA's rise, but a lot of price discussion triggered by the market surge, and ambiguous future expectations.

The hidden concerns behind the potential

The long-term value of a project must eventually return to the fundamentals. Keeta's team configuration is also a typical elitist. CEO Ty Schenk has entrepreneurial experience with BrainBlocks, and CTO Roy Keene is from AWS and the Nano Foundation.

However, looking at its community ecology and market transparency, Keeta's performance is a little more complicated. Although the official social media channel has been established, the activity of the community and the participation of developers do not seem to fully match the popularity of the market. As of May 20, Keeta had about 12,000 followers on its official Twitter. In addition, in the official release information, a large amount of content is about its technical goals, and there is very little content about other cooperative institutions.

In addition, except for a few mainstream DEXs, the KTA token has not yet been listed on some other mainstream exchanges. Of course, it cannot be ruled out that potential listing opportunities are a reason to induce the KTA token to rise.

As for the tokenomics, according to its official information, the portion allocated to the community is 50%, and 80% is unlocked at the TGE stage. The remainder will be unlocked over 48 months. However, before TGE, the scheme and criteria for community incentives were not clarified. Therefore, it is still unknown who the specific controller of this part of the token is. As of May 20, there were 72,000 holders of KTA, and many large addresses have tokens that are distributed by smart contracts rather than transactions, but the reason for this token acquisition is still unknown.

In a comprehensive assessment, Keeta has certain elements to become a "potential stock" in terms of management background, technical narrative and team experience. However, there are still obvious shortcomings and uncertainties in information transparency, core technology verification, community ecological construction, and long-term risk control. If these "hidden worries" cannot be effectively solved, no matter how bright the halo is, it may only be a flash in the pan.

Keeta is currently presenting a complex situation of potential and risk. It can be a dark horse that disrupts the industry, or it can be mediocre because it fails to deliver on its promises or fails to effectively break through in the fierce competition of public chains. While investors and market watchers pay attention to the opportunities it brings, they also need to be aware of the risks behind them and the many questions that remain to be answered. Keeta's future depends on whether it can steadily translate its technical goals into reality, and this road to value realisation is destined to be a long way to go.