KILT Crypto 2022 -Why you Shouldn’t Buy KILT Token before you read this!

In this decentralized crypto article, we will discuss Kilt Token and the potential of Kilt Crypto, what it means for crypto market lovers, what makes it different, and what it means for you as a user.

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KILT Crypto-Why is KILT Token even Required?

Centralization of Internet before Kilt Crypto/Kilt Token

When the internet was invented it was supposed to be a shared space it was meant to be decentralized and democratic but today every time people want to use a new service on the internet, they have to register and this leads to several problems the usernames and passwords.

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As these supposed to be their own secret but in fact they are shared with the companies of running the services these companies stole massive amounts of user-generated data in huge centralized silos.

Kilt Crypto-How Kilt Token Works?

Anyways, the KILT protocol aims to return the control of data transferability back to the hands of its users. Just yesterday, the most well-known Polkadot influencer Donnie Bags, dropped some teasers on the KILT token event.

He said he couldn’t give away any information about the name of the bank or what they paid for. But he said it’s a big deal and

You know, in Europe, personal data ownership is way different than you find in supporters like North America or Asia governance entities.

They’ve had laws implemented for years that protect and are based on user privacy on the Internet.

Here in the US, we’ve just been freeballin’ our data for decades.

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KILT has already-has already started running node like system on smart home meters in Germany — Right now, no one knows this as well, but there are KILT nodes operating on smart meters in German houses — and it’s a solid medium to long term investment in my view.

This project exploded in popularity when it debuted on Kusama, and it has been particularly severely hit in the last month by the crypto meltdown, so now would be a good time to check it out.

KILT Crypto- What to Expect?

Which makes them a very attractive target backer attacks on top of that by gathering more and more data the companies eventually turn into powerful monopolies.

Monopolies are a potential threats for innovation because smaller companies with alternative maybe better ideas need to make huge efforts to compete with them all this has led to a loss of trust in the Internet wouldn’t it be democratic and fair.

If everybody could own their data themselves with services built on the blockchain LIKE KIlt Protocol we can now transfer this very successful concept from the analogue world into the digital world.

KILT protocol allows the user to claim any kind of characteristic about herself to a trusted entity that we call a tester if the attest that considers this claim to be true he can certify it he hands out the certificate to the user called claimer and stores a hash value of the certificate on the kilt macho as certificates.

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Sometimes becoming valid testers can revoke them at any time on the kilts blockchain once the claimer received her certificate she can present it to the services she wants to use if the verifier of service trusts the stub he can check the validity of the certificate by comparing it to the hash on the blockchain since the attest is not involved in the verification process the behavior of displaying her certificate.

The claimant can even conceal himself from a verifier. All non-public sensitive info required for verification that’s how Kilt protects the user’s privacy by design we’ve killed the claimer has full data sovereignty since only she is in control of a certificate as it is impossible to restore the personal data from the hash hacking the blockchain would be useless if data is no longer stored in centralized silos .

Kilt Token What Next?

Companies can no longer build monopolies with the amount of data they own this whole new level playing field would foster innovation beyond tech giants KILT is suitable for any use case for a certificate is issued by a trusted

entity not only individuals but also organizations or objects can claim characteristics about themselves since those claimers only choose the testers who are trusted by many verifiers kilts establishes a market where Trust can be monetized and creates countless new business opportunities.

KILT is the missing technological link between the growing need for self-sovereign data and interoperability and the actual solutions it is now in the hands of political and business leaders to provide society with alternatives to platform registration processes on service and app-level let’s build the next generation of the Internet we know.

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Well, this pick has a lot to do with Polkadot… And this first token is distributed and trading

KILT is a blockchain protocol for issuing self-sovereign verifiable community, revocable, anonymous credentials, and enabling trusted market business models developed in Web 3.0.

It’s a blockchain about decentralized identities..DIDs.Now the KILT token is one that is going to work across both chains.

It was launched as a crowd loan on Polkadot’s canary network Kusama…but at the end of the Kusama parachain lease, they will eventually migrate to their parachain on Polkadot. just one token for both Kusama and Polkadot.

This is BIG!!

And when this happens, they have some stuff up their sleeves. Donnie Big Bags tweeted about it. He said “$KILT is the reason I got into $GLMR / $MOVR They’ve been working on a liquidity mechanism for Polkadot — Polimec. Regulators WILL crackdown on dex’s.

KILT Protocol Price Prediction

The current market cap of around $100 million says about the potential of the coin.Currently as we write it fluctuates at $1.77 with an all-time high of $13 at the time of listing. So even if we don’t expect much from the project it can easily give 7x profit from it’s current price as when it’;s market cap grows and itr gets listed on more and more exchnages.

KILT supply will create fully regulatory compliant DeFi infrastructure. DeFi needs verified on-chain digital credentials.

But it’s not just Defi that requires on-chain credentials… Energy ecosystems are no exception! Remember this article from October of last year.

Germany’s Federal Energy Agency, DENA selected energy web to Build the Prototype Identity Registry for Germany’s Energy Market. And as we can see from the article it says “The Energy Web stack will be used alongside the Parity Substrate client and the KILT Protocol for digital identity.”

The Energy Web Chain…and what many people don’t realize…is the downward pressure is about to end. Energy web recently updated their validator code of conduct, and in it they have a section on Obvious rent-seeking.

They say “Validators who are transparently motivated solely by EWT block rewards, abuse their position as validators to create deleterious effects on EWT markets, and/or do not contribute to the mission and success of the EWC ecosystem as described above, will face temporary suspension and/or expulsion from the validator set.

Rent-seeking is defined as validators liquidating greater than 10% of their block reward balance within any given 30-day period.”Validators who have been rent-seeking, are no more…those who have been dumping..when the price goes up! But you should also know…something big is coming for Energy Web by the end of the year…STAKING!!!

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Last week Energy Web announced a booster period for early stakers, over 21 percent APY, and they re-iterate, it should come before the end of the year.

Well Jesse Morris CEO of Energy Web tweeted about this saying “Staking is a foundational tool for bringing the Energy Web Stack to market. Staking will soon enable individuals and companies to invest in certified renewable energy projects

and bring enterprise-grade solutions to market. Excited to finally announce this first step! EWT is connected to KILT, KILT is connected to Polkadot auction, EWT will eventually become a circulating relay chain, connecting to Polkadot…it’s all coming together.

What is your opinion about the Kilt Token will it change our portfolio? definitely tell me in the comment section.

Especially what is your price prediction about KILT crypto? You must definitely share with me in the comment section. If you liked the article definitely hit the like button.

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Till then Bye Bye!

Also Read: Why You Should Never Buy Kilt Token in 2022 Without Reading this!

You just have to open your eyes. Cheers, I’ll see you next time!

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