KILT Protocol [New] PriceKILTInactive

What is KILT Protocol [New] (KILT)?

KILT Protocol [New] (KILT) is a decentralized blockchain identity protocol designed for issuing verifiable, revocable, and anonymous claims-based credentials in Web 3.0. Its core mission is to return control over personal data to its owner, restoring privacy to the individual while enabling innovative business models around identity and credentials. KILT combines real-world trust with blockchain technology, allowing developers to create identifiers for people, machines, services, and anything on which identities can be built.

The protocol implements the W3C standards for Decentralized Identifiers (DIDs) and Verifiable Credentials, providing infrastructure for decentralized digital identities. KILT enables the generation of identifiers and the creation, issuance, and verification of digital credentials, leveraging trustless and immutable blockchain technology to ensure data privacy and user control. It provides a Software Development Kit (SDK) so anybody can build applications and services on top of the KILT infrastructure.

KILT was originally built on Parity Substrate and launched its mainnet as a Kusama parachain in September 2021, before moving in its entirety to Polkadot in October 2022. The project has since expanded to the Base platform. KILT has a total supply of 290.56 million tokens, with a circulating supply of approximately 191.77 million KILT. According to the existing overview reference, the project has reportedly rebranded to Primer (PR), and TradingView marks KILT Protocol (new) KILTUSD as delisted.

Key Specifications & Tokenomics

• Name: KILT Protocol [New]
• Ticker / Symbol: KILT
• CoinMarketCap ID (UCID): 37468
• Yahoo Finance Symbol: KILT37468-USD
• Official Website: https://kilt.io/
• Blockchain / Platform: Base platform; originally built on Parity Substrate, launched mainnet as a Kusama parachain, later relocated to Polkadot
• Contract Address (Base): 0x5d0dd05bb095fdd6af4865a1adf97c39c85ad2d8
• Launch Date: 2021 (mainnet launched as a Kusama parachain in September 2021). CMC listing date: 2025-07-22.
• Tags (CoinMarketCap): Base Ecosystem, LPoS, VBC Ventures Portfolio
• Explorers: basescan.org
• Total Supply: 290.56M KILT
• Max Supply: 290.56M KILT
• Circulating Supply: 191.77M KILT
• Circulation Rate: 66.00192366192017%
• Total supply at Token Generation Event (TGE): 150 million pre-minted KILT Coins; initial circulating supply: 34 million (revised from 32.5 million).
• Consensus: Nominated proof-of-stake (NPoS)

Who created KILT Protocol [New]?

KILT Protocol was founded in 2018 by Ingo Rübe together with Hubert Burda Media. Ingo Rübe serves as the Founder of KILT Protocol and CEO of BOTLabs GmbH, the Berlin-based research and development company that was the initial developer of the protocol. Before founding KILT, Ingo Rübe served as CTO of Hubert Burda Media from 2012 to 2017 and earlier worked as project director for the German publisher Axel Springer SE from 2006 to 2012. He also served on the board of directors of the Drupal Association from 2017 to 2020.

BOTLabs is a founding member of the International Association for Trusted Blockchain Applications (INATBA). Recognising the potential of blockchain to restore autonomy and control over personal data, Ingo Rübe set out to create identity solutions that could be standardised and implemented by corporates and entrepreneurs worldwide. He has spoken at industry events including TOKEN2049 London on the topic "DeFi Regulation and DEXs - Opportunity or Threat?" KILT Protocol is developed by BOTLabs, a founding team composed of many leading technology and communications professionals. In November 2021, KILT moved its governance from BOTLabs GmbH into the hands of its KILT token holders.

How does KILT Protocol [New] work?

In KILT, digital identity consists of two parts: a Digital Identifier (DID) and Verifiable Credentials (VCs) linked to that identifier. Identity is built by adding more credentials to the identifier over time. Using KILT, a trusted authority known as the Attester can issue documents or Credentials which are then owned and controlled by the person they are issued to, called the Claimer. KILT never stores personal data on the blockchain; this data remains in the Credential under the complete control of the user. The blockchain is only used to store hash values.

Blockchain technology enables the user to prove the authenticity and validity of their Credential to anyone they decide to show it to using this hash. The Attester has the ability to create a new hash to revoke the Credential if it is no longer valid. KILT Protocol facilitates the generation of the identifier on the user's device and the issuance and possession of credentials. An attester generates a credential at the request of a user that describes specific attributes which the attester can verify, then issues the credential to the user. KILT maintains a checksum or hash of the credential on the KILT blockchain.

KILT is built on Parity Substrate, which offers seamless integration opportunities with Kusama and Polkadot projects including gaming, NFTs, DeFi, and DEXs. The protocol implements the W3C standards for Decentralized Identifiers and Verifiable Credentials, enabling decentralized and digital identities as a fundamental component of Web3.

In 2018, KILT was one of the first projects to build on Substrate; it moved in its entirety from Kusama to Polkadot in October 2022 to leverage the stability and bank-level security required by enterprise customers.

What makes KILT Protocol [New] unique and valuable?

KILT provides a permissionless trust infrastructure for real-world business cases that help individuals and entities prove and protect their online identity. By offering accreditation in the digital world where businesses can verify credentials and build trust, KILT is providing a base layer for verifiable credentials in Web 3.0. The protocol enables individuals, organizations, and enterprises to claim arbitrary attributes that are then attested by trusted entities. Claimers of attributes are in full control of their data and decide with whom to share which data, and have the ability to hide certain information for privacy protection.

KILT provides secure identity solutions for enterprises, governments, and consumers, enabling users to create, own, and manage verifiable credentials. It is a standard for verifying digital identity in Web3 applications, not only on the Polkadot network but also on other networks. The protocol is described as KYC-ready and scalable, private onchain identity infrastructure. Its open source blockchain protocol enables the issuance of credentials within Web3 that are verifiable and revocable.

KILT's ecosystem includes several building blocks built on the protocol: Sporran, a wallet for KILT Coins and credentials; Stakeboard, a staking platform to back KILT collators; SocialKYC, an identity verification service for social media credentials; DIDsign, a solution to sign files using the user's DID within the browser; web3name, a cross-ecosystem name service linked to addresses; and AssetDIDs, an identifier to ensure NFT authenticity across multiple chains.

What is KILT Protocol [New] used for?

The KILT token is used within the KILT Protocol ecosystem to facilitate the generation of identifiers and the creation, issuance, and verification of digital credentials. KILT provides the infrastructure for decentralized and digital identities, enabling developers to build applications and services on top of the KILT infrastructure using its Software Development Kit. The protocol is used for issuing verifiable, revocable, and anonymous claims-based credentials in Web 3.0.

KILT enables individuals, organizations, and enterprises to claim arbitrary attributes that are then attested by trusted entities. Users can create, own, and manage verifiable credentials for secure identity solutions. The protocol supports enterprise partnerships in the energy, health care, and banking sectors. KILT announced a token bridge to Ethereum as its first step toward multi-chain functionality; the token now also operates on Base.

Governance of the KILT Protocol is in the hands of KILT token holders, who participate in decisions about the protocol's development and direction. The token economy was designed to be slightly inflationary to achieve long-term sustainability and stability.

How Is the KILT Protocol [New] ecosystem developing?

The KILT ecosystem has seen significant development through partnerships and integrations. Deloitte integrated the KILT Identity Blockchain. KILT is described as a decentralised ID chain with links to Deloitte.

On 28 March 2023, Bitcoin Suisse announced support for KILT for its institutional investor base, becoming the first custodial crypto-financial services provider worldwide to offer institutional users secure access to the KILT blockchain. The offering includes custody and brokerage of KILT, as well as governance voting.

KILT Protocol was founded with Hubert Burda Media and is tagged under the VBC Ventures Portfolio and Base Ecosystem on CoinMarketCap. The project announced AssetDIDs for NFT and XCM use cases at Polkadot Decoded 2022. KILT also announced a seamless token bridge to Ethereum, the KILT token's first leap towards multi-chain. The protocol is implementing enterprise partnerships in the energy, health care, and banking sectors.

Key events in KILT's history include the release of SocialKYC in May 2021, the initial mainnet launch within Kusama in September 2021, the move of governance to token holders in November 2021, and becoming the first parachain to fully relocate from Kusama to Polkadot in October 2022. The project has since rebranded to Primer (PR).

How to mine KILT Protocol [New]?

KILT Protocol uses a nominated proof-of-stake consensus mechanism, and tokens are not mined through traditional proof-of-work mining. Instead, KILT employs a staking mechanism where token holders can back KILT collators through the Stakeboard platform. Stakeboard is a staking platform designed to support the collators who maintain the network and produce blocks.

In a nominated proof-of-stake system, token holders nominate collators by staking their KILT tokens behind them. This process helps secure the network and allows participants to earn staking rewards. The KILT token economy was designed to be slightly inflationary to achieve long-term sustainability and stability, which provides ongoing incentives for stakers and collators.

To participate in staking, users need to hold KILT tokens and use the available staking infrastructure. The Sporran wallet supports KILT Coins and credentials, providing a way for users to manage their tokens and participate in the network. Staking on KILT works through nomination: token holders bond KILT behind collators, and rewards are funded by the protocol's slightly inflationary issuance, which is designed to keep paying stakers and collators over the long term.

How to keep your KILT Protocol [New] Coin safe?

Keeping your KILT tokens safe requires following standard cryptocurrency security practices. Use the Sporran wallet, which is designed specifically for KILT Coins and credentials, to store and manage your tokens. Always download wallets and applications from official sources to avoid phishing attempts and malicious software.

Store your private keys and seed phrases securely offline, and never share them with anyone. Consider using hardware wallets for additional security when holding significant amounts of KILT tokens. Enable two-factor authentication where available and be cautious of unsolicited messages or offers related to your holdings.

Since KILT never stores personal data on the blockchain and keeps credential data under the complete control of the user, it is important to maintain the security of your credentials and identifiers. Regularly review the permissions and access you grant to applications and services within the KILT ecosystem. Stay informed about official announcements from KILT Protocol and its rebranded identity Primer to avoid falling victim to scams or misinformation.

KILT, like other crypto assets, carries risks. Its price can be volatile, and the value of holdings may rise or fall. Regulatory treatment of crypto assets and identity protocols may change across jurisdictions, which could affect how the protocol and token can be used. Technical risks also exist, including smart contract vulnerabilities, network disruptions, and the possibility that integrations or upgrades do not perform as intended. These points are presented for information and should not be read as predictions or assurances.