KILT Protocol

Halal Rating :
Comfortable
Last Price $0.30 Last updated:
Rank 987
1D Change -0.45 %
Market Cap $14.6m
Circulating supply 49,420,140
Maximum supply 290,560,000

Crypto Overview

Categories
  • LPoS
  • Identity
  • Substrate
  • Polkadot
  • Polkadot Ecosystem
  • Web3
  • VBC Ventures Portfolio

KILT is an open-source blockchain protocol for issuing verifiable, revocable, and anonymous claims-based credentials in Web 3.0. KILT’s mission is to return control over personal data to its owner, restoring privacy to the individual and enabling innovative business models around identity and credentials. KILT provides a way to represent your identity without revealing things you prefer to keep private. It brings the old process of trust in real-world verifiable credentials (passport, driving license, certificate, etc.) to the digital world, while keeping your data private and in your possession. Users have the option to store information and can choose what information they want to disclose and to whom. Developers can use KILT to create identifiers for people, machines, services and anything that identities can be built on. Using KILT's open source Javascript SDK, they can quickly spin up applications for issuing, holding and verifying credentials in order to create businesses around identity and privacy. KILT was built on Parity Substrate, launched mainnet as a Kusama parachain in September 2021. KILT is integrating with Kusama and Polkadot projects like gaming, NFTs, DeFi and DEXs; KILT is also implementing enterprise partnerships in the energy, health care and banking sectors. KILT launched as a fully decentralized parachain in November 2021 with three major token utilities: payment, on-chain, and staking mechanisms for collators and delegators. Regardless of whether KILT Protocol moves from a Kusama to a Polkadot parachain (as determined by community governance), there would be only one KILT network and one KILT Coin across both.

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.

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Justification for our Halal Rating