What is KILT Protocol? Complete set of KILT Protocol and token KILT

• Kilt Protocol project overview
• Overview of the KILT . token
• summary

Overview of the KILT Protocol project

What is KILT Protocol?

KILT Protocol is an open source blockchain protocol created for the purpose of storing and verifying user's personal data in Web 3.0, then this protocol will issue information authentication certificates to individuals and organizations already using KILT Protocol.

In a more understandable way, KILT Protocol will be an intermediary that verifies the identity of individuals and organizations, it is worth noting that this data and information is still kept private and owned. their property.

Some notable features of KILT Protocol

KILT Protocol is the first project in the Polkadot ecosystem for decentralized identity and information authentication. The protocol also provides an SDK (Software Development Kit) collection that allows anyone to develop decentralized financial applications at a low cost. Especially projects that do not need to hire professional blockchain developers but they can still create an application of their own.

In addition, KILT Protocol provides a system called Polimec (Polkadot Liquidity Mechanism) based on Polkadot's Substrate. This system is designed to increase liquidity for projects on Polkadot that have not yet opened a token sale that can transfer tokens before the project launches its mainnet.

Information authentication process of KILT Protocol

KILT Protocol's blockchain authentication process has 3 core elements:

Claimers  are individuals or organizations that need to verify their identity.

The Attester acts as an identity verifier and issues a certificate to the Claimer . Attester can be a government agency, an ID generation center or a certificate center...

The Verifier acts as a request to the Claimer to produce proof of certain information (i.e. a certificate of authenticity issued by Attester). Verifier can be understood as an organization's set of rules used to verify that the information a user provides is eligible to grant them permission to use that organization's services or products.

Information authentication process of KILT Protocol will be similar to the process of declaring personal information on the Internet today. The difference is that the certificates/identity of the user (Claimer) will be stored on the Blockchain as a unique hash.

Information authentication process of KILT Protocol.

Team, investors and partners

KILT Protocol's development team

The development team of KILT Protocol includes: Ingo Rübe, Christine Mohan, Matthias, Gustav, Kasper and some other engineers with many years of experience in the field of blockchain technology.

KILT Protocol's development team.

Investors and partners of KILT Protocol

KILT Protocol has attracted 3 large investment funds: Alves Ventures, BMW Capital, Moonboots Capital. In addition, KILT Protocol also attracts many more partners such as: SubQuery Network, zCloak Network, Bit.Country, Bit.Country Pioneer.

Investor and partner of KILT Protocol .

Development Roadmap of KILT Protocol

Q1 2021 : KILT Protocol will launch a test network (Testnet) named Mashnet. In addition, the development team will run KILT Protocol testing on Rococo.

Q2 2021 : KILT Protocol will release testnet (Testnet) for Spiritnet.

Q3 2021 : KILT Protocol will participate in the Parachain auction on Kusama. In addition, the project also launched the mainnet (Mainnet) for Spiritnet and launched the Sporran Wallet.

Q4 2021 : KILT Protocol will launch SocialKYC – a decentralized identity verification service.

Development roadmap of KILT Protocol.

Overview of the KILT . token

What is KILT?

KILT is the official token of KILT Protocol, it is used to:

• Staking rewards : KILT tokens are used as staking rewards on KILT Protocol.
• Payment of transaction fees : Users will use KILT to pay for all transactions on KILT Protocol.
• Network security : KILT holders can staking KILT to secure the network.
• Participation in governance (Governance) : KILT token holders have the right to propose and contribute ideas to help developers build KILT Protocol.

Basic information about KILT . token

• Token Name : KILT Protocol
• Ticker : KILT
• Blockchain : Kusama
• Token Standard : Updating
• Contract Address : Updating
• Total  Supply : 290,560,000 KILT
• Circulating Supply : 34,000,000 KILT

KILT . token distribution

• BOTLabs : 50,000,000 KILT
• Community : 100,000,000 KILT
• Pre-minted : 150,000,000 KILT

Distribution of KILT tokens.

Block rewards and inflation

The block rewards and inflation will be shown through the figure below.

Block rewards and inflation.

summary

Above is all basic information about the KILT Protocol project and the KILT token. In general, KILT Protocol has the core technologies of information security and users' personal data that current DeFi protocols want to own. Together with the fact that KILT Protocol raised more than 220,000 KSM (about 71 million USD) in the Parachain auction on Kusama , it shows that this project has received interest from many investors. With the above information, hopefully readers have been able to judge the potential of the project in the future to make the right investment decision for themselves.

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