The KILT price update as of now is $0.1598. In the previous 24 hours, its trading volume was $102,502, and its value has decreased by -1.94%. As of now, KILT's live market cap is $15,996,031, and it is ranked as the #3181 on the Coincu. KILT has a circulating supply of 153,900,172 and a maximum supply of 153,900,172.

KILT Protocol: An Introduction

The concept of KILT Protocol revolves around a blockchain-based solution that enables the issuance of sovereign, anonymous, and verifiable credentials and decentralized identifiers. It is constructed using Polymer, a framework developed on Polkadot's Substrate. This collaborative effort between BOTLabs and PureStake aims to integrate KILT Protocol with Polimec on Polkadot.

Establishing identity on the blockchain becomes possible for individuals and legal entities by leveraging KILT Protocol's decentralized identifiers within the Web3 platform of the Polkadot ecosystem. It allows the trust and verification processes of real-world credentials, like passports, driver's licenses, and certificates, to securely exist within the digital realm. Your identity remains private and under your control.

The Key Features of KILT Protocol

KILT Protocol provides a user-friendly JavaScript SDK that enables developers to create applications without extensive blockchain development skills.

Additionally, KILT Protocol introduces Polimec, a liquidity mechanism for projects on Polkadot that aren't yet ready to make their tokens transferable on the mainnet. This mechanism resembles the ERC20 smart contract concept on Ethereum, tailor-made for token issuance on Polkadot or Kusama.

One of the significant components of KILT Protocol is a decentralized identifier (DID) system. This system ensures unique identification of entities and devices while respecting user privacy preferences. It allows individuals to express their identity without revealing unwanted information.

By adopting KILT Protocol, blockchain solutions can align with real-world processes, ensuring the privacy of personal data while transitioning into the digital realm. Built on Parity Substrate, similar to Polkadot, it enables interoperability with other projects in the ecosystem and facilitates the use of Parachains.

Proprietary Identity and Data Management of KILT Protocol

KILT Protocol operates using three peer-to-peer roles to maintain and authenticate the network: Claimer, Attester, and Verifier. The Requester, whether an individual or an organization, initiates the requests, while the Endorser, a trusted party, verifies the accuracy of the provided information. The Verifier establishes the connection between the Requester and the Endorser by creating a demand on the chain, facilitating the exchange of authentication information.

The Software Development Kit (SDK) of KILT Protocol

Developers can benefit from the JavaScript SDK provided by KILT Protocol, simplifying access and adaptation.

The Polkadot Liquidity Mechanism (Polimec) of KILT Protocol

Polimec is an open-source blockchain system designed to enhance liquidity for projects on Polkadot that have not yet launched for public sale.

Roadmap for the Future of KILT Protocol

Explore the roadmap of KILT Protocol here.