KILT Protocol Price (KILT)

KILT Protocol is a decentralized blockchain protocol that seeks to provide a framework for issuing verifiable, revocable, and anonymous claims-based credentials in the Web 3.0 ecosystem. The protocol's primary objective is to return control over personal data to its owner, thereby restoring individual privacy and enabling innovative business models around identity and credentials. KILT Protocol is built on Parity Substrate and launched its mainnet as a Kusama parachain in September 2021. It aims to offer seamless integration opportunities with Kusama and Polkadot projects, and is also implementing enterprise partnerships in various sectors.

KILT Protocol operates by creating digital identities that consist of two parts: a Digital Identifier (DID) and Verifiable Credentials (VCs) linked to the identifier. The identity is built by adding more credentials to the identifier. In KILT, a trusted authority, known as the Attester, can issue documents (Credentials) which are then owned and controlled by the person (the Claimer) they are issued to. KILT does not store personal data on the blockchain; this data is in the Credential which is under complete control of the user. The blockchain is used to store hash values, enabling the user to prove the authenticity and validity of their Credential to anyone they decide to show it to using this hash.

KILT Protocol seeks to provide a permissionless trust infrastructure for real-world business cases that help individuals and entities prove and protect their online identity. By offering accreditation in the digital world, where businesses can verify credentials and build trust, KILT aims to provide a base layer for verifiable credentials in Web 3.0. It can be used to create identifiers for people, machines, services, and anything that identities can be built on. The potential use cases for KILT Protocol extend to various sectors, including gaming, NFTs, DeFi, DEXs, energy, healthcare, and banking.

KILT Protocol was founded in 2018 by Ingo Rübe, CEO of BOTLabs GmbH, in collaboration with Hubert Burda Media. Ingo Rübe has a rich history in the tech industry, having served as CTO for Hubert Burda Media from 2012 to 2017 and as project director for the German publisher Axel Springer SE from 2006 to 2012. Recognizing the potential of blockchain to restore autonomy and control over personal data, Ingo set out to create identity solutions that could be standardized and implemented by corporates and entrepreneurs worldwide. KILT Protocol launched its mainnet as a Kusama parachain in September 2021.