Kilt Protocol
KILT protocol is a blockchain platform focused on self-sovereign identity management. It enables individuals to have complete control over their personal data and credentials, stored in a decentralized manner. KILT uses soulbound-tokens, a unique approach to ensure the authenticity of identities and documents.
Categories:
Layer1
Updated:
2023-04-03
Tags:
Multi-Party-Computation
Self Sovereign Identity
Ticker:
KILT
Token Strength.
Token Utility:
$KILT Attestation payments: KILT is used as a means of payment for attestations, which are digital proofs of identity, credentials, or other information. Infrastructure payments: KILT can be used to pay for the usage of infrastructure within the KILT network. Staking: KILT holders can stake their tokens to participate in network governance and earn rewards.
Demand Driver:
Operational: Validators and users who want to stake KILT. The protocol requires that tokens be staked to secure the network, validate attestations, and provide trust via delegation services. Platform access: Enterprises and developers require KILT to access the platform. Kilt offers a scalable, customizable, and interoperable blockchain solution for digital identity and verifiable credentials
Value Creation:
The value created by KILT lies in its capacity to give individuals and organizations self-sovereign identity management. With KILT, users fully control their personal data and credentials, enabling secure and efficient verification without intermediaries. KILT's blockchain architecture and innovative token mechanism offer flexible solutions for various applications, promoting a more equitable and trustworthy digital world for all.
Value Capture:
Value accrual to token: As a utility token, $KILT is primarily used for paying transaction fees and incentivizing validators to perform attestations on the KILT blockchain. The token's value is thus tied to the demand for these services, which can fluctuate based on network usage and adoption. Value accrual to the protocol: KILT Protocol captures value through a treasury system, where a portion of transaction fees and validator rewards are directed towards the protocol's treasury. These funds can then be used to support the development and growth of the protocol, potentially leading to increased adoption and demand for $KILT.
Business Model:
The business model for Kilt protocol: Revenue comes from: Attesters paying gas fees in $KILT to the Kilt protocol. Revenue is denominated in: $KILT. Revenue goes to: Validators and delegators who help secure the network and validate the credentials, receive a percentage of the gas fees paid by attestors. The exact percentage is not specified
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Protocol Analysis.
| Problems & Solutions | Problem: Current identity and credential management systems lack security and decentralization, leading to fraud and privacy risks. Solution: KILT protocol provides a blockchain-based solution for secure self-sovereign identity management with verifiable credentials and decentralized identifiers (DIDs). KILT's soulbound-tokens enable users to control their credentials, preventing fraud and ensuring privacy. KILT is a reliable solution for decentralized identity and credential management. |
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| Predecessors | Sovrin - A global public utility for self-sovereign identity that enables trusted, verifiable digital identity for all. uPort - A self-sovereign identity platform that allows individuals to own and control their digital identity and share their data selectively and securely. Civic - A secure identity platform that enables users to control their personal data, verify their identity and protect their information with biometrics. |
Investment Take
... coming soon
Tokenomics Timeline.
2021-09-07
Launch on Kusama
KILT Token utilities: payment, on-chain, and staking mechanisms for collators and delegators.
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