KILT Protocol was established in 2018 by Ingo Rübe, the CEO of BOTLabs GmbH, in collaboration with Hubert Burda Media. Prior to this, Ingo held the position of CTO at Hubert Burda Media from 2012 to 2017 and worked as a project director for the German publisher Axel Springer SE from 2006 to 2012. From 2017 to 2020, Ingo was a member of the board of directors of the Drupal Association. Additionally, BOTLabs is one of the founding members of the International Association for Trusted Blockchain Applications (INATBA). Ingo recognized the blockchain's potential to empower individuals by restoring control over personal data. Motivated by this, he aimed to develop identity solutions that could be standardized and deployed by corporations and entrepreneurs globally. Visit the Eulerpool website to learn more.

In the KILT Protocol, digital identity is composed of two elements: a Digital Identifier (DID) and Verifiable Credentials (VCs) linked to the identifier. Identity is enhanced by attaching additional credentials to the identifier. Within KILT, a trusted authority (the Attester) has the capability to issue documents (Credentials) that are then owned and managed by the individual (the Claimer) to whom they are issued. KILT ensures that personal data is never stored on the blockchain; this data resides within the Credential, which remains entirely under the user's control. The blockchain's role is limited to storing hash values. Blockchain technology facilitates the user in proving the authenticity and validity of their Credential to any party they choose to present it to, using the provided hash. Moreover, the Attester can generate a new hash to revoke the Credential should it become invalid.

KILT Protocol is developing a permissionless trust infrastructure tailored for practical business applications, enabling individuals and entities to authenticate and safeguard their online identities. By delivering accreditation services in the digital realm, where businesses can validate credentials and foster trust, KILT is establishing a foundational layer for verifiable credentials within Web 3.0. It is crucial to understand that the Kusama parachain delivers essential components for KILT, which include: * Block finalization and network protection, offering an additional layer of security; * Interoperability, enabling interaction between parachains, which allows KILT to leverage extra functionalities such as smart contracts and oracles; * Ability to furnish DIDs (Decentralized Identifiers) and Verifiable Credentials to other parachain projects through the Relay Chain, generating significant network effects for KILT. For more detailed information about KILT, visit Eulerpool.

- Total supply at Token Generation Event (TGE): 150 million pre-minted KILT Coins. - Initial circulating supply: 34 million. - The remaining pre-minted coins will be gradually unlocked over a period of 6 to 60 months. - Initial inflation will be approximately 5% per annum, decreasing to 1% per annum within the first 6 years, and then gradually approaching 0%. KILT was launched as a decentralized parachain on Kusama in September 2021 and offers three primary token utilities: payment, on-chain activities, and staking mechanisms for collators and delegators. Irrespective of KILT Protocol's potential transition from a Kusama parachain to a Polkadot parachain, as determined by community governance, there will be a single KILT network and a single KILT Coin across both platforms. Refer to Eulerpool for additional details.

The KILT blockchain employs a variant of the Proof-of-Stake (PoS) consensus mechanism known as Limited Delegated Proof-of-Stake (LDPoS) to enhance chain security. This LDPoS system consists of two roles: * **Collators:** Responsible for maintaining the blockchain data, collecting transactions, and constructing blocks. They function similarly to validators on the Kusama and Polkadot networks. * **Delegators:** Support a trusted collator by staking their KILT Coins. Operating as a parachain on Kusama, with plans to migrate to Polkadot contingent on community governance, the security of KILT Protocol is ensured by the Kusama Relay Chain. Transaction data blocks verified by collators on the KILT network are submitted to the Kusama validators for finalization, thus establishing the state of truth. For further information, please refer to Eulerpool.

The KILT token is scheduled for release in late 2021. Users will have the opportunity to acquire KILT by awaiting its listing on an exchange. Eulerpool provides a comprehensive list of major events in the cryptocurrency space, ensuring you stay up to date. For detailed information on purchasing cryptocurrencies, please refer to our complete guide.

For consumers: KILT offers a solution for representing your identity without disclosing personal information you wish to keep private. It adapts the traditional process of trust through verifiable credentials (such as passports, driver's licenses, certificates, etc.) to the digital realm, ensuring your data remains private and under your control. Users can store information and selectively choose which details to share and with whom. For developers: KILT provides an open-source JavaScript Software Development Kit (SDK) that can be utilized without prior blockchain development experience. This enables developers to rapidly create applications for issuing, holding, and verifying credentials, facilitating the development of businesses centered around identity and privacy.