KILT Protocol
Crypto Overview
Purpose and Utility
KILT Protocol is a blockchain platform designed to enable users to issue self-sovereign, verifiable credentials and build trust in the digital world. It provides infrastructure for decentralized identity solutions, allowing organizations and individuals to create, claim, verify, and revoke credentials.
Business Model
The KILT token serves multiple purposes within the ecosystem: It's used for paying transaction fees, staking to secure the network through a Proof-of-Stake mechanism, and governance participation. The business model focuses on providing legitimate identity management services without involving any prohibited activities under Islamic law.
Real-World Adoption
KILT has established notable partnerships and implementations, including with the German government's Energy Web ID system and SocialKYC. The protocol is actively used for identity verification and credential management in real-world applications.
Platform Development
KILT demonstrates active development with regular updates to its protocol. The project maintains a transparent development process through its GitHub repository and has a consistent track record of delivering technical improvements.
Token Distribution
The token distribution includes allocations for development, ecosystem growth, and community initiatives. While there are significant allocations to the team and early investors, these come with appropriate vesting periods to align long-term incentives.
Revenue Model Analysis
The protocol's revenue model is based on legitimate service fees for credential management and network operation, avoiding interest-based mechanisms or prohibited activities.
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.