Parachains are sovereign blockchains running in parallel within the Kusama and Polkadot networks. Conceived by Gavin Wood, co-founder and former CTO of Ethereum, parachains bring the future of the internet to a whole new level, allowing the scalablility, interoperability, and security needed to really turn the promise of blockchain into the next generation of the internet, Web 3.0.
How does KILT use blockchain?
KILT provides a base layer for verifiable credentials in the Web 3.0 world. Using the benefits of blockchain, we bring real-world accreditation to the digital world, creating a way for business to verify credentials and bring trust to a whole new level.
Our system will enable individuals, businesses and governments to rely on a common standard, which is owned by everyone participating and not by a single company.
Why will KILT become a parachain?
Many projects in the Polkadot ecosystem intend to use KILT functionality. To make our services available as soon as possible, we will participate in the first Kusama parachain auctions, and aim to start our mainnet on Kusama shortly after securing a parachain slot.
A Kusama parachain can provide core functionality for KILT including:
- The ability to finalise blocks and thus secure our network, even while KILT is backed by a relatively small collator network. This provides an extra layer of security to the KILT Blockchain.
- KILT will be able to provide DIDs (Decentralised Identifiers) and Verifiable Credentials through the Relay Chain to other parachain projects inside the ecosystem.
- This will provide enormous network effects for the KILT Blockchain.
- KILT would soon be able to utilise functionality from other parachains, such as smart contract systems and oracles.