KILT is a blockchain protocol for issuing self-sovereign verifiable, revocable, anonymous credentials and enabling trust market business models in Web 3.0.
Recent Crowdloan
KILT’s crowdloan hit their max cap of 220,000 KSM very quickly on 1 September at 3pm CEST, and further voting for KILT is not possible.
with more than 12k contributions voting for KILT since 27 September, when they launched the voting. This crowdloan was the last chance to reserve KILT Coins
KILT aims to secure slot #6. The auction continues through Wednesday 8 September at 11:00 GMT which includes the candle phase.
It is very important to do your own research (DYOR) before you participate in any crowdloan
What Makes KILT Protocol (KILT) Unique?
KILT is a decentralized privacy management protocol that helps other organizations prove their online identity. One of the developers’ goals is to support business models formed on trust, so it provides users with the functionality they need to create simple and complex trust solutions. The protocol allows the description and validation of characteristics (people, organizations, things) in a standardized way.
How Is the KILT Protocol Network Secured?
The platform uses the Proof of Authority (PoA) algorithm. This algorithm is efficient in terms of energy consumption and speeds transactions. Transactions and blocks are validated by approved accounts. The approved validators run software that allows transactions to be placed in blocks (this process is automated).
In 2021, the developers will make a change from Proof of Authority to Proof of Stake. And the network will start using a PoS mechanism to select validators and nominators and maximize chain security.
The protocol is built on the Substrate platform, meaning KILT will allow all parachains and their users to manage personal data and accounts securely. The information can be transferred anonymously to third parties for seamless identity verification.
Upcoming
KILT is bidding for an 8-period slot; when secured this lease will run for 48 weeks total. Participating in a crowdloan means the KSM you lock is unavailable to you during the unlocking, bidding, and parachain lease period. Transfer or staking KSM is not possible during this time.
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Dislcaimer
this news and reviews blogs are only to educate, inform and deliver information to the public and is not an investment advice. Nothing should be taken as an offer to buy, sell or hold any cryptocurrency
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