KILT Protocol KILT Price $ 0.326

KILT is a decentralized blockchain identity protocol for issuing verifiable, revocable, and anonymous claims-based credentials in Web 3.0. KILT’s mission is to return control over personal data to its owner, restoring privacy to the individual and enabling innovative business models around identity and credentials. KILT aims to achieve this by combining real-world trust with the benefits of blockchain technology. Developers can use KILT to create identifiers for people, machines, services, and anything that identities can be built on.

KILT is built on Parity Substrate and launched the mainnet as a Kusama parachain in September 2021. Substrate offers seamless integration opportunities with Kusama and Polkadot projects like gaming, NFTs, DeFi, and DEXs; KILT is also implementing enterprise partnerships in the energy, health care, and banking sectors.

In KILT, digital identity consists of two parts: a Digital Identifier (DID), and Verifiable Credentials (VCs) linked to the identifier. Identity is built by adding more credentials to the identifier.

The KILT blockchain will contain its own cryptocurrency: the KILT Coin. This Coin shall be used to incentivize the security and continuous operation of the KILT network. Moreover, the KILT Coin shall be used to pay for the registration of CTYPEs, writing Attestations, and issuing revocations on the blockchain. The KILT Coin could also be used for paying the Attester for the Attestation service.