KILT is a decentralized blockchain identity protocol for issuing verifiable, revocable, and anonymous claims-based credentials in Web 3.0.
KILT claims that its mission is to return control over personal data to its owner, restoring privacy to the individual and enabling innovative business models around identity and credentials. KILT aims to achieve this by combining real-world trust with the benefits of blockchain technology. Developers can use KILT to create identifiers for people, machines, services and anything that identities can be built on.
Specifically, KILT proposes the following:
- A universal blockchain protocol for individuals, organisations, objects, and artificial intelligences to claim arbitrary attributes about themselves and get them attested by trusted entities.
- A Trust Market for the Attesters of such claims, which allows trusted entities to attach prices to their valuable attestation work and get paid.
- Mechanisms for putting claim holders in control of their data by storing the information on their storage and by giving them the choice which information they want to disclose to whom.
The KILT token could be used for providing safety of the KILT Blockchain and having access to write to the secure block space for trusted data. Utility of the KILT coin can be broken down to the following possible use cases:
- Paying angel’s share (gas) when writing an attestation on the KILT Blockchain
- Paying an Attestation fee
- Register a new CTYPE on the blockchain
- Creating a Hierarchy of Trust (including the Private Curated Registry) and managing the delegations in the structure
- Creating and setting up a Token Curated Attester (TCA)
- Paying for an Attestation issued by a TCA
- Direct transactions in KILT tokens between users of the network
- Distributing the block reward to Validators
- Contributing to network security (staking/nominating Validators in the proof-of-stake consensus mechanism)