Thread by @stakenode_dev

Getting close to @Polkadot and @kusamanetwork parachain launch by @web3foundation, we check why #parachains need @Kiltprotocol and how ones can benefit from #KILT beeing a #Polkadot and #Kusama parachain.

link.medium.com/mXZl0AK5Beb

#KILT provides a base layer for verifiable credentials in Web 3.0 world, building a permissionless trust infrastructure for real-world business cases like #DeFi, genetics testing, cloud computing and energy partnerships, also exploring collaborations in climate change and gaming

As parachain Kilt would provide its #DIDs (Decentralised Identifiers) and Verifiable Credentials through Relay Chain to other parachains

KILT would soon be able to utilise functionality from other parachains, such as smart contract systems and oracles.

link.medium.com/kjWnWTa6Beb

Following the model used by #Kusama and #Polkadot, in order to achieve decentralisation @Kiltprotocol is set out to become a Nominated Proof-of-Stake (NPoS) network.

link.medium.com/XPvnHwG6Beb

Consensus in the system (agreement on the information on the #KILT blockchain) will be achieved by collators who produce “blocks” of data on #KILT and pass it to the validators in Kusama/Polkadot, who then pass the information to the Relay Chain.

These collators will be backed by nominators — Kilt token holders who trust the collators and use their #KILT tokens to back them

For this system to work, a way to incentivise the collators and nominators needs to be built into the system, similar to that used by $KSM and $DOT

Being part of the #Kusama network also enables highly secure interactions between the #KILT blockchain and other parachain projects on Kusama and, when a connecting bridge is enabled, also to #Polkadot projects.

This is valuable feature, because it puts #KILT functionality in the center of the most promising blockchain ecosystem to date. It makes KILT Credentials and #DIDs easily available for an increasing number of highly valued projects, which will greatly increase the usage of KILT

@Kiltprotocol aims to secure one of the early parachain slots on #Kusama, so that functionality will be available for other parachains projects at the earliest possible time.

link.medium.com/eYNInPp7Beb

#BOTLabs (the company behind KILT Protocol) and @purestakeco (the company developing the @MoonbeamNetwork smart contract platform) will work together on #Polimec (@Polkadot Liquidity Mechanism).

link.medium.com/eivJOIB7Beb

#Polimec allows the issuance and transfer of multiple cryptocurrencies directly on a dedicated blockchain. The Polimec blockchain (like @Polkadot @kusamanetwork @Kiltprotocol and many others) is built with Parity’s @substrate_io framework

link.medium.com/RsUshQJ7Beb

@Kiltprotocol is an open-source protocol for Credential systems where data take the shape of Credentials (certificates) that attest to certain attributes about an entity

link.medium.com/uyTmPa97Beb

@web3foundation @Polkadot @kusamanetwork @Kiltprotocol @ParityTech @substrate_io