Polkadot & Kusama ecosystem projects directory
Polkadot & Kusama ecosystem projects directory

Litentry

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Litentry is a Decentralized Identity Aggregation protocol across multiple networks. It features a DID indexing mechanism and a Substrate-based credit computation network. The protocol provides a decentralized, interoperable identity aggregation service that mitigates the difficulty of resolving agnostic DID mechanisms. Litentry provides a secure vehicle through which users manage their identities and dApps obtain real-time credit/reputation of an identity owner across different blockchains.
Tokens:  LIT  
Status
Announced
Testing
In Auction On Polkadot
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Primary Token:
Price:
$4.97
Total Supply:
100 000 000
Circulating Supply:
27 732 686
Market Cap:
$137 737 536
Trading Vol 24:
$21 216 134
News
Sep 22, 2021 at 11:32 UTC
Jun 13, 2021 at 13:59 UTC
May 30, 2021 at 10:25 UTC
May 23, 2021 at 08:44 UTC
May 16, 2021 at 11:54 UTC
May 10, 2021 at 06:42 UTC
May 7, 2021 at 11:51 UTC
Apr 25, 2021 at 15:15 UTC
Apr 18, 2021 at 11:17 UTC
Apr 14, 2021 at 05:24 UTC
Apr 11, 2021 at 11:05 UTC
Mar 28, 2021 at 13:54 UTC
Mar 21, 2021 at 08:14 UTC
Mar 18, 2021 at 01:31 UTC
Mar 14, 2021 at 07:30 UTC
Mar 10, 2021 at 06:49 UTC
Mar 7, 2021 at 06:07 UTC
Mar 1, 2021 at 15:40 UTC
Feb 25, 2021 at 02:43 UTC

What is Litentry?

Litentry is a Decentralized Identity Aggregation protocol across multiple networks, it features a DID indexing mechanism and a Substrate-based credit computation network. The protocol provides a decentralized, interoperable identity aggregation service that mitigates the difficulty of resolving agnostic DID mechanisms. Litentry provides a secure vehicle through which users manage their identities and dApps obtain the real-time credit/reputation of an identity owner across different blockchains. Know more about Litentry.

Who are Litentry?

The team was founded in early 2019 and received a grant from the Web3 Foundation in their early stage. In October 2020, Litentry completed a million-dollar seed round of funding from FBG, Candaq, Hypersphere, Signum, Altonomy, and other crypto venture capitals. Litentry’s founder Hanwen Cheng is a former Software Engineer at Parity, with over 5 years of experience in blockchain and 7 years in Computer Science. Our development team is currently based in Germany, China, UK, and more countries with years of experience in the blockchain industry and a deep understanding of the Ethereum and Polkadot ecosystem.

What is LIT token and what is it for?

LIT token is the native cryptocurrency of the Litentry network and is issued by the Litentry Foundation. Litentry tokens LIT would be the driving force in the circulation in the DID ecosystem. Specifically, in our credit calculation system, each time a user sends a request to the network, they’ll be charged a gas fee in LIT tokens for the services. what happens next is the network allocates credit calculation tasks to several off-line workers and correspondingly rewarded them LIT tokens for their computational work. In addition, to encourage maintenance of the Litentry network, off-line workers will be rewarded LIT tokens for doing so.