Selfkey (KEY) has been making rounds in the crypto market and has been garnering increasing attention. The cryptocurrency was one of the top gainers on Binance during the daily timeframe which has brought it under the spotlight. So, what is this project, and is it worth your time or money? 

What is Selfkey? 

Blockchain technology is revolutionary, no doubt, as it empowers users, enables anonymity, and removes any centralized intermediaries from the financial ecosystem. But this level of freedom also comes with its downsides. With no regulation, it becomes hard to guarantee safety and security to various stakeholders. This is where Selfkey steps in. The project aims on providing security without compromising on the sanctity of blockchain technology. 

In essence, it is an identity management system but with the power of blockchain technology. The platform allows users to go through the procedure of “Know your customer” requirements by submitting required documents and becoming verified. Once a user has achieved verified status, they can easily navigate through the blockchain market without having to worry about the stringent requirements of various platforms. Selfkey creates an ease of use for users while also ensuring some level of security to the cryptocurrency market if more and more players in the market are verified. 

Moreover, the platform also empowers its users by giving them control of their data, identity, and documents. Selfkey is also geared towards the metaverse and Web 3.0. It regards itself to be the provider of digital sovereignty on web 3.0 and the metaverse. 

Does it have potential? 

Talking strictly from a fundamental aspect, the project can be considered to possess a highly valuable proposition for the blockchain industry. It brings much-needed safety and security to the blockchain realm. Moreover, Selfkey is also expanding with the changing needs of the market as version 2.0 was launched just a month ago which enabled data security in the metaverse. 

Currently, the KEY token is surging upwards and has increased by more than 20% during the day while the daily trading volume has surged upwards by nearly 1,000%. At the time of writing, the token stands at a price level of $0.0089. Selfkey has a market ranking of #569 with a capitalization of $45 million – which is increasing along with the price. The future outlook of the token is also bullish. According to the estimates of Wallet Investor, KEY is expected to be operating at a price level of $0.040 in five years’ time.