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What is KEY

Tokens

1. What is key?

Introduction to KEY Cryptocurrency

KEY cryptocurrency, also known as SelfKey, is a blockchain-based digital currency. It aims to provide users with a secure, efficient, and convenient payment experience while preserving their digital identity and privacy.

Main Features:

  1. Security and Privacy: The SelfKey ecosystem allows trust providers, certification authorities, and identity owners to transact in a secure, private, and decentralised manner.
  2. Digital Identity Management: SelfKey is committed to addressing issues present in existing payment systems, such as transaction security and privacy protection.
  3. Blockchain-Based: SelfKey is built on blockchain technology, which is the pillar of the entire project and its success.
  4. Company Background: SelfKey is developed and managed by SelfKey Foundation.

Conclusion: KEY cryptocurrency (SelfKey) is a cryptocurrency that prioritises security, privacy, and digital identity management, based on blockchain technology, aimed at providing users with a better payment experience.

2. Who founded key?

According to the information provided, the first successful cryptocurrency is Bitcoin, created by a developer or team using the pseudonym Satoshi Nakamoto in 2009. However, the concept of cryptocurrency began developing as early as the 1980s and 1990s with early projects like David Chaum's DigiCash (1989) and Nick Szabo's Bit Gold (1998).

3. Which venture capitalists invested in key?

According to the information provided, the following venture capitalists have invested in cryptocurrency-related projects:

  1. a16z (Andreessen Horowitz): Invested in well-known cryptocurrencies and blockchain projects such as Coinbase, Uniswap, Solana, MakerDao, Dfinity, and Chia.

  2. HashKey Capital: Invested in projects like Animoca Brands, Aztec Network, Celestia, Blockdaemon, and Mina, primarily covering infrastructure, DeFi, and CeFi.

  3. Spartan Group: Invested in projects including Animoca Brands, BitDAO, Celestia, ConsenSys, Polygon, and Sui, focusing mainly on DeFi, infrastructure, and gaming.

  4. Alliance DAO: Invested in 112 portfolios including Aztec Network, STEPN, Ribbon Finance, and 1inch Network.

  5. Drapper Dragon (德鼎创新): As a crypto VC fund, it has invested in early blockchain company equity and token assets, assisting portfolio companies in their growth.

These venture capital firms have made extensive investments in the cryptocurrency and blockchain sectors, driving the vibrant development of the crypto world.

4. How does key work?

How keys operate in cryptocurrency:

  1. Private Key:

  2. Definition: A private key is a complex alphanumeric code used to sign cryptocurrency transactions, proving the transaction initiator's ownership of digital assets.

  3. Function: The private key is used to control and access the assets within a cryptocurrency wallet, ensuring the security and integrity of transactions. Only the person who possesses the private key can operate on the corresponding account.

  4. Security: The security of the private key is crucial; loss or leakage may lead to asset theft or irretrievability. Hence, it is very important to keep and use the private key properly.

  5. Public Key:

  6. Definition: The public key is generated from the private key and can be shared with others for receiving cryptocurrency and verifying transaction signatures.

  7. Function: The public key is used to create receiving addresses, through which others can send you cryptocurrency. It is also used to verify transaction signatures to ensure their integrity and protection from tampering.

  8. Relationship: The public key and private key are paired, generated through an encryption algorithm. Data encrypted with the public key must be decrypted with the corresponding private key.

  9. Usage of Key Pairs:

  10. Transaction Signing: Use the private key to sign transactions, proving their legitimacy and ownership.

  11. Receiving Cryptocurrency: Use the public key to create a receiving address for getting cryptocurrency from others.

  12. Wallet Importing: Use the private key or mnemonic to import a wallet and regain access to cryptocurrency.

In summary, private keys and public keys play a critical role in cryptocurrency transactions, ensuring the security and integrity of the exchanges.

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