2 Minutes

The Transition from Centralized to Decentralized

SelfKey Weekly Newsletter Date - 30th September, 2020 Crypto industry is in a path of transition, a transition from centralized to decentralized.
05 Oct 2020
SelfKey Newsletter - 30th Sep

Dear SelfKey Astronauts,

Decentralization has been one of the core concepts of blockchain. However, the crypto industry is still a long way away from achieving complete decentralization.

Although crypto has achieved decentralization on some level, it may have been relying partially on centralization as well. This is evident from the reliance crypto users have on the centralized exchanges.

DeFi has brought a renewed interest in decentralized exchanges, and if the recent data is anything to go by, then the decentralized exchanges are becoming a force to be reckoned with.

Decentralized exchanges offer users better control over their assets.

Moreover, decentralized exchanges are less prone to massive security breaches and loss of funds, similar to the recent security breach of the KuCoin exchange.

SelfKey has made an official statement regarding the hack.


SelfKey was always keen on endorsing the motto, “not your keys, not your crypto,” and we encourage our users to utilize a non-custodial and open-source wallet, such as the SelfKey Identity Wallet.


Last month we released a proposal document about a potential secondary governance token with staking and DeFi capabilities that will coexist with the KEY token.

Read the proposal document here.


We need your valued support and valued opinion on the token, hence do take part in the survey on the penultimate page of the proposal document.

We would like you to participate in this 3-minute survey that would help us get your feedback on the SelfKey Wallet.


The SelfKey Identity Wallet is a free identity solution for Windows, Linux and Mac. Get yours today!

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We’re happy to announce that SelfKey will be partnering with Polkadot.


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We're hiring a Content Manager!


Quote of the Week - “They who can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety.” - Benjamin Franklin

Your support keeps us motivated to deliver the best!

Best Regards,
Sree from SelfKey

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