KILT Protocol (KILT), a decentralized Blockchain protocol for issuing verifiable, retrievable, and anonymity-based credentials on the Web 3.0, has begun KILT token distributions during mass lending in Kusama. When the last listing in MEXC Global was included in this excitement, the price of the altcoin project was not slow to reach 900%. Details cryptocoin.com‘in.
KILT fulfills the need for decentralized identity solution
on November 22 announced Alongside the “Token Transferability Event”, the team also introduced two key tools for the KILT Protocol ecosystem.
- The first is Sporran, a browser extension wallet for storing KILT and credentials on the KILT Protocol network.
- The second tool is Stakeboard, a platform where users can manage their KILT stakes.
Prior to that, the project launched its main product, SocialKYC, in May of this year and announced plans to launch it as a parachain on Polkadot. Designed as a decentralized alternative to existing KYC processes, SocialKYC authenticates users through their social accounts, email addresses or phone numbers. Once the credential is provided, SocialKYC does not store or share user information.
Altcoin project skyrocketed 900% after MEXC Global listing
In the weeks it has been crowdfunding, KILT has enjoyed a popularity that can easily be measured by what Acala saw before the parachain auction. His ambitious proposal to give users back control of their digital identities resonated with the market, pouring tens of millions of dollars worth of KSM into a community account. In addition to these, it is a matter of curiosity how KILT’s access to larger exchanges will affect its price. But its latest listing on MEXC Global shows a lot of appetite for the token.
What happened in KILT price after listing?
At the time of writing, KILT is trading at $12.29 and has posted 900% gains in the last 24 hours on the MEXC Global exchange. Considering the popularity of the protocol in the Kusama and Polkadot ecosystems, another price increase could be seen after KILT Polkadot migrates to the parachain, according to analysts. Most recently, KILT had won the parachain slot auction on Polkadot’s “canary network” Kusama in early September.
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