KILT Protocol (KILT) and Its Role in Digital Identity Space
KILT is a decentralized blockchain protocol that aims to give individuals control over their personal data by issuing verifiable, revocable, and anonymous credentials in the Web 3.0 ecosystem.
What is KILT Protocol (KILT)?
By combining real-world trust with the advantages of blockchain technology, KILT aims to enable new business models related to identity and credentials. The protocol can be used by developers to create identifiers for people, machines, services, and any other entities. KILT is built on the Parity Substrate and was launched on the Kusama (KSM) Mainnet as a Parachain in September 2021. The substrate provides opportunities for integration with other Kusama and Polkadot projects like gaming, NFTs, DeFi, and DEXs. Additionally, KILT is implementing partnerships in industries such as energy, healthcare, and banking.
KILT for Consumers
KILT offers a solution for both consumers and developers in the digital identity space. For consumers, KILT allows them to represent their identity without revealing sensitive information. It brings the traditional process of trust in real-world credentials like passports and certificates to the digital world while keeping the data private and under the user’s control. Users have the ability to store their information and can choose what information they want to share with others.
KILT for Developers
For developers, KILT offers an open-source JavaScript Software Development Kit (SDK) that is easy to use, even for those without prior blockchain development experience. This SDK allows developers to quickly create applications for issuing, holding, and verifying credentials, which can be used to build new businesses around identity and privacy.
How Does KILT Work?
In KILT, digital identity is composed of two elements: a Digital Identifier (DID) and Verifiable Credentials (VCs) linked to that identifier. An individual’s identity is built by adding more credentials to their identifier.
KILT allows a trusted authority (the Attester) to issue credentials, which are then owned and controlled by the person (the Claimer) to whom they are issued. KILT does not store personal data on the blockchain; this data is stored in the Credential, which is entirely under the user’s control. The blockchain is only used to store hash values.
By utilizing blockchain technology, users can prove the authenticity and validity of their credentials to anyone they choose to share them with using the hash stored on the blockchain. Additionally, the Attester has the ability to create a new hash to revoke the Credential if it is no longer valid.
Team
KILT Protocol, BOTLabs GmbH, and the B.T.E. BOTLabs Trusted Entity GmbH (BTE), which was the original developer of KILT, were all founded by Ingo Rübe.
He has experience in both media and technology, having previously held the positions of IT Project Director at Axel Springer and CTO at Hubert Burda Media, where he founded and oversaw the Drupal-based CMS Thunder.
Ingo serves on the board of directors of the Drupal Association in addition to being a founding member of the International Association for Trusted Blockchain Applications (INATBA), the Decentralized Identity Foundation (DIF), and BOTLabs.
Where to Store KILT Protocol (KILT)
The Sporran wallet is a browser extension that grants access to the KILT blockchain identity protocol and Web3 services. It allows users to take control of their personal data, protecting their privacy.
Users can use Sporran to check their $KILT Coin balance, sign and send KILT blockchain transactions, and create and manage a digital identity with a unique web3name.
Sporran also enables users to generate and store credentials, such as those obtained through SocialKYC or other compatible services, on their devices. This allows them to remain anonymous and have control over their data when sharing it with online services. Additionally, users can make their credentials public through Sporran, which can help establish trust with digital service providers by providing contact information and other details.
Sporran also allows users to sign digital documents in a private and decentralized manner using DIDsign.
KILT Protocol (KILT) Resources
Website: https://www.kilt.io/
Github: https://github.com/KILTprotocol
Twitter: https://twitter.com/Kiltprotocol
Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers' responsibility to complete their own research and due diligence.
