KILT Protocol
Crypto Overview
Understanding KILT Protocol
KILT Protocol is a blockchain protocol designed to issue self-sovereign, verifiable credentials and decentralized identifiers. It operates on the Polkadot network, providing infrastructure for trusted, decentralized identity verification.
Intended Utility
KILT's primary purpose is to enable organizations and individuals to claim attributes about themselves, have these claims attested by trusted entities, and present these credentials to verifiers, all while maintaining control over their personal data. The KILT token serves as the native currency for paying attesters and securing the network through staking.
Actual Utility Assessment
The protocol has demonstrated real-world adoption through partnerships with organizations like SocialKYC, BOTLabs GmbH, and the German government's energy project D-Trust. The development activity is consistent and substantial, with regular updates and improvements to the protocol.
Token Distribution and Governance
KILT's token distribution shows a relatively balanced allocation, with approximately 27% allocated to the team and early investors, subject to vesting periods. The majority of tokens are distributed through public sales and ecosystem development. There are clear lock-up periods for team tokens, indicating commitment to long-term development.
Development vs Marketing
The project demonstrates a strong focus on technical development, with regular github commits and technical documentation updates. Marketing efforts appear proportionate and focused on building legitimate partnerships rather than token price speculation.
Revenue Model
The protocol generates revenue through legitimate service fees for attestations and network operation, avoiding interest-based mechanisms. The staking mechanism used for network security complies with Islamic principles as it represents actual work and network participation rather than interest-bearing loans.
Crypto Impact
To assign a comfort level investing in KILT Protocol from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to KILT Protocol.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.