KILT Protocol (KILT) Feed: Events, News & Roadmap
KILT Protocol Events on the Chart
What is KILT Protocol?
KILT is an open-source blockchain protocol designed to issue claims-based credentials in Web 3.0, aiming to restore individual privacy and foster innovative business models centered on identity. Established on Parity Substrate and launched as a Kusama parachain in September 2021, the platform promotes data privacy, allowing users to represent their digital identities without unnecessary disclosure. KILT has integrations with Kusama, Polkadot, and sectors like gaming, NFTs, DeFi, DEXs, energy, health care, and banking. It became a fully decentralized parachain in November 2021.
At the heart of KILT’s digital identity system are two components: a Digital Identifier (DID) and Verifiable Credentials (VCs) connected to this identifier. An Attester, or trusted authority, issues Credentials, which are entirely controlled by the recipient (the Claimer). Unlike traditional systems, KILT refrains from storing personal data on the blockchain. Instead, only hash values are saved, ensuring the user’s data remains in their Credential, under their control. This blockchain system empowers users to prove the authenticity and validity of their Credential through these hashes. Furthermore, Attesters can generate a new hash, effectively revoking the Credential when required.
KILT’s native token is multifunctional, catering to on-chain utility, payment processing, and staking.