Identity Verification Protocol on Polkadot, KILT protocol is fully decentralized

By November 12, 2021Polkadot
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KILT, a Web 3 blockchain protocol that provides verifiable proof of identity for Kusama and Polkadot, has become a fully decentralized blockchain network.

– KILT protocol – We are hiring! (@Kiltprotokoll) November 10, 2021

100% managed by the community

According to the official announcement of the KILT protocol on his blog and social media channels, the platform was completely decentralized on November 11th.

Identity Verification Protocol on Polkadot KILT protocol is fully decentralized
Since its inception, the protocol has had 16 collectors, which will grow to 75 in the coming weeks.

After three years of research and development, BOTLabs GmbH, a Germany-based protocol development company, has transferred decision-making authority to the KILT-Coin owner community.

This ambitious milestone was made possible by the removal of the Sudo Key module from the protocol architecture. Starting today, all major upgrades will be publicly discussed and approved by the KILT community.

Web 3 Foundation's Highly Anticipated Robust Blockchain Platform Polkadot  Is Now Live – Press release Bitcoin News
Identity Verification Protocol on Polkadot, KILT protocol is fully decentralized 2

The first suggestion concerns the distribution of the KILT Coin “Thank you” to the participants in the crowdloan in September, whereby the voting process will take 7 days as with Polkadot. The KILT Coin “Thank You” is then distributed to the users’ wallets and can be traded on the exchange.

The market leading DID ecosystem

The transition to a decentralized governance organizational model (DAO) was included in the project’s roadmap when it launched in 2018. With the removal of the Sudo key, KILT became a self-formatting protocol (DID) with the first value in the crypto market in general and Polkadot / Kusama in particular.

The KILT protocol is a blockchain that enables users to issue sovereign, revoked and anonymous credentials in Web3. The protocol enables users to claim any properties about themselves, to be authenticated by trusted parties and to save claims as credentials (certificates). In addition, the project was launched with the aim of promoting new, trustworthy business models.

KILT won the Parachain auction in Kusama in early September with nearly $ 100 million in KSM support.

Bao Cong

According to U.today

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