Quick Guide about Litentry (LIT)and Its Decentralized Identity (DID)
A decentralized identity aggregator called Litentry (LIT) enables user identities to be connected across many networks.
What is Litentry (LIT)?
Users can safely manage their identities using the platform, and Dapps can access the real-time Decentralized Identity (DID) of identity owners across different blockchains. According to its whitepaper, the platform intends to be the Parachain of the Polkadot Network. The relay chain validators have verified the global and application-specific data structure known as Parachain.
Decentralized Identity (DID)
According to the Litentry website, Decentralized Identity differs from Traditional Identity by its creation procedures, which exclude scrutiny and centralized control. More DID is created on-chain as Web3 expands. Due to the data’s advantageous fragmentation, it continues to circulate across numerous networks. However, the existing Web3 infrastructure, which is the same as the internet, makes it difficult to connect to and integrate with other networks, creating issues from the standpoint of data management. Data pieces are removed from remote data islands by indexing the data across blockchains, enabling data owners to manage and utilize the data as they see fit.
Team
Hanwen Cheng, the founder of Litentry, is a former Product Owner of Parity Signer, an Ethereum offline wallet. Their development team of 11 members is currently based in Berlin, Germany, and has years of experience in the blockchain industry.
Where to Store Litentry (LIT)
A Trust wallet is a wallet that can hold a wide variety of cryptocurrencies, such as Litentry (LIT), making it highly desirable for users who wish to have a varied portfolio. Being owned by Binance, it is also a very trusted wallet in the crypto community.
Alternative options to keep your Litentry (LIT) secure can also include MetaMask, a leading browser wallet extension popular amongst DeFi platforms.
It is always recommended that you ensure using a secure wallet, create back-ups and store any sensitive recovery information in addition to completing your own research and due diligence into any service you are looking to use.
Where to Buy and Sell Litentry (LIT)
You can Buy & Sell Litentry (LIT) here at BC Bitcoin.
You can Buy Litentry (LIT) by heading over to the Buy Coins page of our website. Litentry is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying Litentry (LIT) has never been easier, simply place your order and provide your wallet address. Once your payment arrives, Litentry will be sent directly to your wallet.
If you choose to Sell Litentry (LIT), you can send us the coins and receive a payment to your bank account. Details and a live valuation can be found on the Sell Coins page.
Litentry (LIT) Resources
Website: https://litentry.com/
Block Explorer: https://etherscan.io/ https://etherscan.io/
GitHub: https://github.com/litentry
Twitter: https://twitter.com/litentry
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.
