Stakin is thrilled to announce that we will be offering staking support for KILT Protocol, Mainnet!
Today, Stakin is thrilled to announce that we are one of the first Mainnet collators for KILT Protocol. KILT is a blockchain identity protocol for issuing self-sovereign, anonymous and verifiable credentials for Web 3.0. Stakin provides validator services on Proof-of-Stake blockchains.
Within the KILT blockchain, collator nodes hold the blockchain’s data, collecting transactions and building blocks. Verified data blocks are then passed via the validators to the Kusama Relay Chain in the broader network to be finalized and become the state of truth. As mentioned in the “First Cohort of KILT’s Initial Collators Programme” announcement, one collator can have a maximum of 25 delegators backing them. Furthermore, block rewards go to the collator who produces an actual block and their backing delegators. Initially, collator rewards can add up to 10% per annum on their stake from the first year. After that, reward rates will decrease by 2% per year.
As a trusted validator for other networks such as Kusama and Polkadot blockchain, SKALE, and over 20 other blockchain projects, Stakin feels excited to support the KILT Protocol as a collator. Thus helping to enhance and grow the blockchain and bring it closer to its desired objectives.
KILT was an early adopter of Substrate, a modular system built by Parity Technologies that makes it simple to build customized blockchains using pre-built components. What makes Substrate stand out is that it allows for easy integration with Polkadot, a ground-breaking "blockchain of blockchains" created by Parity that overcomes the previous problems of security, scalability, and interoperability that have impaired blockchain adoption.
KILT Protocol decided to build on Polkadot since it was the only technology to date that combines low fixed and definable network costs with aspects of the tamper-proof “trustless” nature of blockchain. KILT secured a parachain slot in September 2021 to connect with Kusama, Polkadot’s wild cousin.
“We are very excited at the idea of supporting KILT as a collator. With extensive experience on Substrate-based blockchains such as Polkadot, Kusama, and Stafi, KILT appeared to be a natural fit for our team. Web3 has already enabled much innovation with DeFi and NFT. Yet, we feel like decentralized identity, as well as on-chain credentials and certificates, are still underexploited.” - Stakin Co-Founder and CEO Edouard Lavidalle.
Stakin is an infrastructure operator for Proof-of-Stake (PoS) public blockchains, offering non-custodial delegation services. The company enables PoS cryptocurrency holders to earn interests on their holdings, and take part in decentralized governance while remaining in possession of their own cryptocurrencies.
Stakin serves institutional crypto players, foundations, custodians, exchanges as well as a large community of retail token holders. Driven by demand from institutional customers and the community, Stakin provides services for multiple blockchains including leading ecosystems such as Cosmos, Solana, Polygon, Polkadot, and more.
DISCLAIMER: This is not financial advice. Staking, delegation, and cryptocurrencies involve a high degree of risk, and there is always the possibility of loss, including the loss of all staked digital assets. Additionally, delegators are at risk of slashing in case of security or liveness faults on some protocols. We advise you to do your due diligence before choosing a validator.