The KILT Protocol (KILT) is a decentralized blockchain network designed to facilitate the creation, claiming, issuance, submission, and verification of digital credentials. It aims to provide a self-sovereign digital identity system, allowing individuals to control their data and choose what information they want to disclose. Built on Polkadot, KILT enables secure and scalable digital identity solutions, making it a standard for identity verification in Web3 applications.
KILT Protocol (KILT) is a blockchain-based protocol designed to provide a framework for verifiable, revocable, and anonymous credentials in the Web 3.0 landscape. It aims to return control over personal data to its owner, restoring privacy to the individual and enabling innovative business models around identity and credentials.
Key Features and Use Cases- Decentralized Identity: KILT allows users to create decentralized identifiers (DIDs) and verifiable credentials, which can be used for various purposes such as Know Your Customer (KYC) and Know Your Business (KYB) processes, age verification, and regulatory compliance.
- Self-Sovereign Data: Users have control over their data and can choose which information they want to disclose to whom, ensuring data privacy and minimizing data storage.
- Digital Credentials: KILT enables the issuance of reusable digital credentials, which can be used across different platforms and services, reducing the need for multiple identity verifications.
- Enterprise Integration: KILT is integrated with various enterprise partners, such as Deloitte Consulting AG, to support KYC and KYB processes, and with projects like Polimec for regulatory compliant fundraising.
- Developer Tools: KILT provides a JavaScript SDK and other tools for developers to build identity-related applications and services, such as Attester businesses and decentralized identity systems.
- Blockchain Technology: KILT is built on Parity Substrate and launched as a Kusama parachain, allowing for seamless integration with other projects in the Polkadot ecosystem.
- Data Formats: The protocol defines specific data formats for handling different types of data, including identities, claims, attestations, and verifications.
Overall, KILT Protocol is designed to provide a secure, scalable, and decentralized digital identity solution, enabling users to manage their personal data and credentials in a self-sovereign manner while facilitating innovative business models and use cases.
To store KILT Protocol (KILT) tokens securely, it is recommended to use a cold wallet, which is offline and not connected to the internet. There are two types of cold wallets:
Paper Wallet: This is a simple, offline wallet where you generate a public and private key using a program. You can print these keys on a piece of paper and store them securely. The keys are in the form of QR codes that you can scan for future transactions.
Hardware Cold Wallet: This is a physical device where you can store your cryptocurrency. Your crypto addresses and keys are kept in a USB drive device, and only the person with the USB drive can access the assets. Most people prefer hardware cold wallets, especially for storing large amounts of coins or tokens.
Additionally, you can also use wallets like Trust Wallet, which allows you to manage and store KILT tokens. You can add KILT Protocol to Trust Wallet by locating it through the token search feature or manually adding it using the contract address.
Another option is the Sporran wallet, which is a browser extension that holds your KILT coins and stores your digital credentials, giving you control over your personal data. Sporran is a free desktop browser extension that displays KILT Coin balances, enables signing and sending transactions on the KILT blockchain, and allows you to build and manage your digital identity.
To buy KILT Protocol (KILT) tokens, follow these steps:
Choose a Crypto Exchange: Select a reputable cryptocurrency exchange that supports KILT Protocol trading. Popular options include Kraken, gate.io, and MEXC. Ensure the exchange accepts customers from your country and offers the necessary trading features.
Create an Account: Register on the chosen exchange's official website or app. You may be able to sign up with your social account if the exchange supports one-step registration.
Verify Your Identity: Complete the verification process by providing a government-issued identification document. Enable two-step verification for added security.
Deposit Funds: Use fiat currency to buy a cryptocurrency like USDT, ETH, or BNB. You can use the exchange's OTC trading service or a financial service platform like PayPal or Robinhood (for US residents).
Transfer Funds to KILT-Supporting Exchange: If necessary, transfer your purchased cryptocurrency to an exchange that supports KILT Protocol trading.
Buy KILT Protocol: Use your deposited cryptocurrency to buy KILT Protocol tokens in the spot market.
- Store Your KILT Tokens: After purchasing, store your KILT tokens securely in a wallet. You can use the Sporran wallet, which is specifically designed for managing digital identities on the KILT Protocol.
Remember to research the fees, security features, and supported currencies before choosing an exchange. Additionally, consider your investment approach, crypto storage, and other aspects of buying and trading KILT Protocol.
