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Market Cap

₹3.79 B -4.8081%

Circulating Supply

135712000

Max Supply

290560000

Volume

₹8.32 M

All Time High :

₹734.16

All Time Low :

₹18.07

Price change in 24H :

₹-1.357413

24H High :

₹29.76

24H Low :

₹26.71


KILT Protocol (KILT) Price Live Chart


KILT Protocol (KILT)

KILT is a decentralized blockchain identity protocol designed to issue verifiable, revocable, and anonymous claims-based credentials within the context of Web 3.0. The primary objective of KILT is to empower individuals with control over their personal data, thereby restoring privacy and facilitating innovative identity and credential-related business models. By merging real-world trust with blockchain's advantages, KILT enables the creation of identifiers for various entities like people, machines, services, and anything else that requires identity-building.


KILT was constructed using Parity Substrate and commenced its mainnet operations as a Kusama parachain in September 2021. This framework offers smooth integration options with projects on Kusama and Polkadot, such as gaming, non-fungible tokens (NFTs), decentralized finance (DeFi), and decentralized exchanges (DEXs). Beyond this, KILT is also in the process of forming collaborations with enterprises in sectors like energy, healthcare, and banking.


Founders

In 2018, Ingo Rübe, the CEO of BOTLabs GmbH and former CTO of Hubert Burda Media (2012-2017), established the KILT Protocol. Earlier in his career, he worked as a project director at the German publisher Axel Springer SE between 2006 and 2012. Ingo also held a position on the board of directors for the Drupal Association from 2017 to 2020. Notably, BOTLabs played a foundational role in forming the International Association for Trusted Blockchain Applications (INATBA).


Recognizing the potential of blockchain technology to reinstate personal data autonomy and control, Ingo Rübe embarked on a mission to develop identity solutions that could be standardized and adopted by businesses and entrepreneurs on a global scale.


What makes it unique?

KILT Protocol is constructing an open trust framework designed for real-world applications that enable individuals and entities to validate and safeguard their digital identities effectively.


By facilitating accreditation in the digital realm, wherein businesses can authenticate credentials and establish trust, KILT Protocol is laying the foundation for verifiable credentials within the context of Web 3.0.


It's worth highlighting that the Kusama parachain plays a vital role in the KILT Protocol by contributing essential components:


Block Finalization and Network Security Enhancement: The Kusama parachain adds an extra layer of security through block finalization and network protection.


Interoperability: The ability to interact with other parachains ensures that KILT can utilize added functionalities like smart contracts and oracles.


Decentralized Identifiers (DIDs) and Verifiable Credentials: KILT can offer DIDs and Verifiable Credentials to other parachain projects via the Relay Chain. This integration brings about significant network effects, benefiting the KILT ecosystem.


Network security

The KILT blockchain employs a modified version of the Proof-of-Stake (PoS) consensus mechanism known as Limited Delegated Proof-of-Stake (LDPoS) to enhance the security of the chain. This LDPoS system consists of two distinct roles:


Collators: These participants are responsible for maintaining the blockchain's data. They gather transactions and construct blocks, performing functions similar to validators on networks like Kusama and Polkadot.


Delegators: Delegators support trustworthy collators by staking their KILT Coins.


Operating as a parachain on Kusama (and eventually Polkadot, subject to community governance), the security of the KILT Protocol relies on the Kusama Relay Chain. The transaction data blocks that have been validated by collators within the KILT network will be transmitted to Kusama validators for finalization. This finalization process establishes the confirmed and accurate state of the blockchain's data as the definitive truth.


Recent developments 

KILT Protocol is excited to announce its collaboration with the German Energy Agency (dena) on the "Digital Identities as Trust Anchors in the Energy System" (DIVE) project. Commissioned by the German Federal Ministry for Economic Affairs and Climate Action, this initiative follows the successful "Blockchain Machine Identity Ledger (BMIL)" project and aims to integrate decentralized digital identities into the energy sector.


The DIVE project's objective is to explore the benefits of decentralized identities in real-world energy use cases, including proof of origin, micro-plant participation in flexibility markets, and swift supplier changes at electric charging stations. The project outlines a transformation path towards broad implementation, fostering the development of an ecosystem and the subsequent expansion of applications.


By utilizing KILT's infrastructure, DIVE aims to evaluate the potential of secure digital identities within the changing energy landscape. These digital identities will ensure trust and certainty in the operation of decentralized energy systems, enabling seamless transitions between different applications and contributing to more efficient energy management.


The DIVE project collaborates with partners such as the Forschungsstelle für Energiewirtschaft e.V., Energy Web, Oli Systems, BOTLabs GmbH, fieldfisher, and Fraunhofer FIT, among others, and is anticipated to run from June 2023 to December 2024.


Future developments 

Not available 

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