What is KILT Protocol?
KILT is a blockchain protocol for issuing sovereign, anonymous, verifiable credentials and decentralized identifiers. Kilt Protocol builds on Polymer. Polimec is built on Polkadot's Substrate. BOTLabs (The company behind Kilt Protocol) and PureStake (the company behind the MoonBean smart contract) have teamed up to research Kilt on Polimec.
With KILT Protocol allowing each individual or legal entity to be verified on the blockchain through a decentralized identifier on the Web3 platform of the Polkadot ecosystem. KILT brings the old trust process of real-world credentials (passports, driver's licenses, certificates, etc.) to the digital world, representing your identity while preserving data Yours is private and owned by you.
Highlights of KILT Protocol
In addition, Kilt Protocol also provides a liquidity mechanism for projects on Polkadot that are not ready to sell their tokens transferable prior to the Mainet project. This feature is called Polimec, it's a concept like ERC20 smart contract mechanism on Ethereum but issues tokens on Polkadot or Kusama.
KILT has a decentralized identifier (DID Decentralized Identifier) that uniquely identifies an entity or device and information. Provides a way to express a person's identity without revealing things the user does not want.
KILT brings a real-world-like solution to the blockchain with processes similar to those outside the real world. Bring all your information into the digital world while ensuring your personal data is always private.
KILT can also be used to format machines or anything that needs to be verified on it. KILT is built like Polkadot on Parity Substrate. That makes KILT suitable for interoperability with other ecosystem projects and enables the use of Parachain.
Proprietary Identity and Data
The protocol uses three peer-to-peer roles to maintain and authenticate the network: Claimer, Attester, and Verifier. The Requester can be an individual or an organization. The Endorser is a trusted party to the Requester's requests and ensures that the above information is correct. The Verifier is responsible for linking the Requester to the Endorser by creating a demand on the chain, after which the Verifier will receive the authentication information between the Requester and the Endorser.
Software Development Kit (SDK)
Polkadot Liquidity Mechanism (Polimec)
This is an open-source (open-source) Blockchain system designed to increase liquidity for projects on Polkadot that have not yet opened for sale.
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