Selfkey
KEY
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₹0
LIVE
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24H Low ₹0.32
24H High ₹0.33
Price of KEY today
The current live price of KEY today is ₹0, with a 24-hour trading volume of ₹27,95,52,754.84. Our KEY to INR price is updated in real-time. KEY has seen a decrease of -0.19% in the last 24 hours. With a live market cap of ₹1,92,73,83,212.79 , the circulating supply is at 5,999,999,954 KEY coins, with a maximum supply of 6,000,000,000KEY coins.
Selfkey Price History
Date Comparison | Amount Change | % Change |
---|---|---|
Today | -₹0.001778 | 0.55% |
7 Days | -₹0.14 | 30.4% |
30 Days | -₹0.10 | 24.62% |
1 Year | -₹0.16 | 34.01% |
Selfkey Price Information
Price Change (1hr)
0.53%
Price Change (24hr)
0.55%
Price Change (7d)
30.4%
Selfkey Market Stats
Market Cap
₹1,92,73,83,212.79
Fully Diluted Market Cap
₹1,92,73,83,227.90
24hr Volume
₹27,95,52,754.84
48.17%
Circulating Supply
5999999954.46 KEY
Total Supply
6000000000 KEY
Things to know about Selfkey
What is SelfKey (KEY) token?
SelfKey (KEY) is a blockchain-based self-sovereign identity system designed to empower individuals and organizations with more freedom and privacy through the full ownership of their digital identity. It enables users to securely control their personal data, documents, and digital assets. SelfKey’s ecosystem includes a non-custodial wallet, allowing users to manage their Ethereum and tokens, and a marketplace offering services like bank account openings, business incorporations, and notarization. The KEY token facilitates transactions within this ecosystem, ensuring users can access services transparently regarding documentation requirements, costs, and processing times.
Tokenomics
Utility and Access:
KEY tokens enable access to SelfKey’s features, including identity verification and marketplace services.
Incentive Mechanism:
The token incentivizes network participation, rewarding users for contributing to the SelfKey ecosystem.
Economic Model:
SelfKey’s tokenomics promotes sustainable and fair network growth, focusing on the economic principles of decentralized ecosystems.
Distribution and Supply:
Initially distributed in January 2018, KEY has a total supply of 6 billion tokens, with 5,304,969,446 KEY in circulation.
Market Presence:
KEY is an ERC20 token listed on several cryptocurrency exchanges, enhancing its liquidity and accessibility.
Staking and Transactions:
Users can stake KEY tokens and use them for payments within the SelfKey Marketplace, encouraging active participation in the network.
Market Data
As of today #{today’s date}, the price of Selfkey is ₹0 INR or #{coinPriceUsd} USD, with a 24-hour trading volume of 3144575.42 USD. The market capitalization for Selfkey is 21680351.1USD. The circulating supply is 5999999954.46 Selfkey, with the total supply also being 5999999954.46 Selfkey.
Token Pros and Cons
Pros:
Privacy and Security:
SelfKey offers enhanced privacy and security for users’ digital identities, addressing significant concerns in today’s digital world.
Utility in Ecosystem:
KEY tokens have clear utility within the SelfKey ecosystem, driving demand for the token.
Marketplace Access:
Token holders can access a wide range of services through the SelfKey Marketplace, from financial services to business incorporation.
Control Over Personal Data:
Users have complete control over their personal data, a significant advantage over traditional identity management systems.
Web 3.0 and Metaverse Ready:
SelfKey’s infrastructure is prepared for the evolving digital landscape, including Web 3.0 and the Metaverse.
Cons:
Market Volatility:
As with all cryptocurrencies, KEY tokens are subject to market volatility, which can lead to significant price fluctuations.
Regulatory Risks:
Changes in cryptocurrency regulations could impact SelfKey’s operations and the utility of KEY tokens.
Adoption Rates:
The success of KEY tokens is heavily dependent on individuals and organizations' adoption of the SelfKey ecosystem.
Competition:
SelfKey faces competition from other identity management solutions, which could impact its market share.
Technical Risks:
As a blockchain-based solution, SelfKey is subject to risks associated with smart contract vulnerabilities and blockchain scalability.
Why Should You Invest in the Coin?
Growing Need for Digital Identity Solutions:
The increasing digitalization of services necessitates secure identity management solutions, positioning SelfKey for potential growth.
First-Mover Advantage:
SelfKey’s early focus on self-sovereign identity could give it a competitive edge in the market.
Strong Use Case:
The platform addresses a real-world problem, enhancing its long-term viability and potential for adoption.
Potential for Appreciation:
Limited supply and token burn mechanisms could lead to appreciation in the KEY token’s value over time.
Active Development:
Continuous updates and improvements to the SelfKey ecosystem suggest a commitment to long-term success and innovation.
USP of the Coin
Self-Sovereign Identity:
SelfKey’s focus on giving users complete control over their digital identity sets it apart from traditional identity management systems.
Integrated Marketplace:
The SelfKey Marketplace offers a unique ecosystem where users can access various services using KEY tokens.
Non-Custodial Wallet:
The SelfKey Wallet ensures users have full control over their keys and data, enhancing security and privacy.
Problem the Coin is Solving
SelfKey addresses the critical issue of digital identity management in an increasingly online world. It provides a secure, blockchain-based platform that empowers users to own, control, and manage their digital identities, mitigating risks associated with data breaches, identity theft, and privacy violations.
Founder and Team Background
Edmund Lowell, founder of SelfKey, is a serial entrepreneur with law, finance, and technology expertise. He has launched several Fintech and RegTech ventures, including SelfKey, which aims to revolutionize digital identity management. The diverse team behind SelfKey spans development, legal, and advisory roles.
ICO Price
The Initial Coin Offering (ICO) of SelfKey (KEY) occurred on 14th January 2018. During the ICO, SelfKey raised $21.78 million, with the price of each KEY token set at $0.015. The ICO was a short event, as it started and concluded on the same day. The token sale was successful, with the project reaching its fundraising goal.
Risks Associated in Investing in the Coin
Regulatory Uncertainty:
The evolving regulatory landscape for cryptocurrencies could impact SelfKey’s operations and token utility.
Adoption Challenges:
Widespread adoption of SelfKey’s platform is crucial for the token’s success but remains uncertain.
Competition:
The digital identity space is competitive, with several projects vying for market share.
Technical Vulnerabilities:
Potential vulnerabilities in smart contracts or the blockchain could compromise user data and token value.
Market Volatility:
Cryptocurrency markets are highly volatile, and KEY tokens are no exception, posing investment risks.
Summary of the Whitepaper
The SelfKey whitepaper outlines a comprehensive approach to addressing the inherent problems of traditional, centralized identity systems through the implementation of a decentralized, blockchain-based identity management system. This system is designed to empower individuals and organizations by giving them full control over their personal data, thereby introducing a new paradigm of self-sovereign identity (SSID).
Problem Statement
The whitepaper begins by highlighting the limitations and risks associated with current identity systems, which are predominantly paper-based, government-driven, and centrally managed. These systems are inefficient, prone to data breaches, and often exclude individuals due to the lack of modern technological infrastructure. The Equifax data breach and similar incidents underscore the vulnerability of centralized databases, emphasizing the need for a more secure and inclusive approach to identity management.
SelfKey’s Solution
SelfKey proposes a solution that places individuals at the center of their identity management process, a concept known as Self-Sovereign Identity (SSID). This is achieved through a digital identity system built on blockchain technology, with users holding their identity data in a digital wallet. The SelfKey ecosystem comprises several key components, including the SelfKey Foundation, a technology stack with an open-source identity wallet, a marketplace with real products and services, and a native token called “KEY,” which facilitates transactions within the ecosystem.
How SelfKey Works?
For individual users, the process begins with downloading the SelfKey Wallet, where identity data is stored locally. Users generate a public/private key pair, which serves as their digital signature for authenticating and validating their identity. Users can then create identity claims and receive attestations from verifiers, enabling them to access products and services in the SelfKey marketplace.
For companies, SelfKey offers a way to manage startup documents, demonstrate compliance with KYC requirements, and simplify the documentation verification process. Verifiers, on the other hand, can digitize and monetize identity claims, enhancing the overall efficiency of the identity verification process.
The SelfKey Network
The SelfKey Network is designed to be decentralized, non-profit, and governed by the SelfKey Foundation, which ensures adherence to the principles of self-sovereign identity. The network utilizes the KEY token for transactions, incentivizing participation and good behavior within the ecosystem.
Advantages Over Traditional Systems
SelfKey addresses the limitations of centralized identity systems by offering a decentralized alternative that provides full control and ownership of identity data to individuals. It enables secure, private, and efficient identity transactions while complying with existing laws and regulations. The network’s design promotes interoperability, transparency, and user-centricity, aligning with the evolving needs of modern societies and the global internet.
Conclusion
SelfKey envisions a world where individuals can truly own and control their digital identities, free from the constraints of centralized systems. By leveraging blockchain technology and adhering to the principles of self-sovereign identity, SelfKey aims to revolutionize identity management, ensuring security, privacy, and user empowerment.
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Price as per 06:51 AM • 06 Oct 2024
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What is the price of Selfkey (KEY)?
The current price of Selfkey (KEY) in INR is ₹0 INR.
What is the current KEY market cap?
The current market capitalization of Selfkey (KEY) is ₹1,92,73,83,212.79 INR. This value represents the total market value of all coins in circulation, calculated by multiplying the current price of KEY by the number of coins in circulation.
What is the current supply of Selfkey (KEY)?
The current supply of Selfkey (KEY) is 5999999954.46 KEY. This figure represents the total number of coins that have been mined and are currently in circulation.
What is the 24 trading volume of Selfkey (KEY)?
The 24-hour trading volume of Selfkey (KEY) in INR is ₹27,95,52,754.84. This figure represents the total value of all KEY transactions across various exchanges within the last 24 hours.
How to Buy Selfkey (KEY) in India?
To buy Selfkey (KEY) via Mudrex, simply sign up and create an account on their platform. Proceed by completing the KYC process to verify your identity. Once verified, deposit funds into your account using the available methods. With your account funded, you're all set to start investing in KEY.
Can I buy Selfkey (KEY) with UPI?
Yes, you can buy Selfkey (KEY) with UPI on Mudrex, which accepts payments through popular UPI apps like Paytm, PhonePe, and Google Pay, offering a convenient and quick way to invest.
How to Convert Selfkey (KEY) to Indian Rupee (INR)?
To convert Selfkey (KEY) to Indian Rupee (INR), you can use our KEY/INR conversion rates in real time.