THEKEY (TKY) Analysis

Market Cap

$2,847,777 USD

Volume (24h)

$45,332 USD

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3.6

SAFETY

Ranking factors:

Markets

How many exchanges are there to trade this coin?

THEKEY Markets Rank: 2/100
Volume Ratio

How actively is this asset being traded on the market?

THEKEY Volume Ratio Rank: 2/100
Market Cap

The total cost of all coins available.

THEKEY Market Cap Rank: 82/100
24h Change

Is the price moving up or down?

THEKEY 24h Change Rank: 50/100
Social Following

How many users are following this coin?

THEKEY Social Following Rank: 84/100
Google Trends

How many users are searching for the coin?

THEKEY Google Trends Rank: 1/100
Twitter Citation

How many users are talking about this coin in Twitter?

THEKEY Twitter Citation Rank: 35/100
User Voting

How popular is this coin among Cointobuy community?

THEKEY User Voting Rank: 96/100

THEKEY investment analysis

This platform is an identity verification tool that leverages blockchain technology. THEKEY is among a very few projects that are actually making efforts to align decentralized technology with traditional systems such as banks and government institutions.

While these have indeed been the most controversial entities to most decentralized web applications, this project is trying to see how it can integrate national PII data grid to blockchain and create a reliable and robust identification and verification system.

THEKEY investment is Chinese-based and started out as an asset built on NEO blockchain and so far has achieved some important milestones towards building a smart economy out of IDV. A couple of copyrights, patents and a test-run of their platform as a service covering some cities where it is being used for social insurance payments are indeed steps in the right direction.

How to buy?

$0.000459

+73.8%

$0.000797

456/3785

by Safety

1587/3785

by Profit

How to buy THEKEY?

THEKEY has about 5 markets on just 3 exchanges where it is currently being traded and it goes without saying that it limits the flexibility of choice especially when the exchanges are not the most popular. This means that major cryptocurrency traders would have to add one extra exchange market to their list.

The coin is traded with BTC, ETH, NEO and USDT, quite the top coins of the crypto market. So it should be pretty easy to buy THEKEY, as most traders usually have at least one of those alts in their portfolio. However, if you don’t have these at the time you want to buy, you may need to purchase using your credit card on an exchange that accepts trading with USD.

You can buy TKY and leave it on the exchange, quite risky though; but then a safer means of storage would be to transfer to an external wallet service provider such as the NEO wallet.

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It’s evident that this blockchain system is more than just some other ‘clichéd’ decentralized buzzwords. They have a proof-of-concept and a working prototype to address the problems with objectivity. They also have what it takes to pull a supporting crowd, especially of the investor type.

While there may be competitors out there, especially those sponsored by the Chinese government, who is also researching in the same field, the one thing that puts this platform ahead of them is the protocol layer design using BDMI technology.

The Blockchain-based Dynamic Multi-Dimensional Identity synchronizes cross data from individuals that have been logged across multiple systems and institutions and forms a link to ensure that there is proper coordination of data when it is called up from any other system.

One remarkable feature about the project is that they already provide part of these solutions off-chain and would only be leveraging the blockchain to improve the security and level of authenticity, as decentralization makes data sources more reliable due to its immutability and open source nature.

There are many use cases for this product such as insurance claim, healthcare management systems, banking services and a lot more where identity verification systems are a common denominator. Moreover, once the mainnet is launched, we should begin to see more acceptance and a gradual move towards adoption by traditional systems and institutions.

Furthermore, a thorough look at THEKEY’s analysis suggests that they are building a sustainable economy; such that, even after they have launched their mainnet, they plan on keeping close connections with the NEO system.

More so, their partnership with key interest parties such as Alibaba Group is intriguing and should be an important aspect of the project investors should keep tabs on.

Should you decide to invest in TKY you must understand that identity verification market is viable, however, for a platform such as this with a view set on blockchain industry, accompanying jurisdictional stake on blockchain technology, it may take a while before the real benefits begin to sink in. But assuredly, it is an important set-up to the economy of any nation, and with THEKEY being among a select few pursuing the development of this solution, the market prospects are still green.

But as indicated earlier, the project has begun the pursuit for legal structuring and patent filings for the product; having so far received favorable responses for some of the filings proves that the project is gaining positive feedback and support already.

Further growth and development would be organic. So, this investment should be tagged under the long-term prospective ventures which have the potential to reward investors immensely, so long as the objectives and the roadmap aren’t compromised.

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