Buy Litentry (LIT)
What is Litentry?
Litentry is a parachain on the Polkadot network that focuses on giving users control over their data. Litentry accomplishes this by allowing users to link their data to various accounts and services, and then consent to the use of that data. Litentry also offers a number of other features, including the ability to create and manage decentralized identities, and access to a number of different data analysis tools. Litentry's parachain is designed to work with the Polkadot relay chain, providing a high degree of security and flexibility. In addition, Litentry is compatible with a number of different blockchains, making it easy to integrate into existing infrastructure. Litentry therefore offers an effective solution for those who want to take control of their data.
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Why buy Litentry with Anycoin?
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Extra information about Litentry (LIT)
What can LIT be used for?
Litentry has a cross-chain identity aggregator that secures sensitive user data. This can be used in the following cases:
Airdrop (Drop3 Platform)
Previously, users could get airdrops (receiving crypto coins for free) based on unique wallet addresses, but with Litentry it happens based on unique identity. As a result, people with multiple wallets do not directly have a better chance of winning an airdrop.
Each user has a unique ID; this is the only information available. In fact, there is no other information insightful about the user. This unique ID is linked to other platforms, for example, thus sharing data, but in a safe way.
The app can be used on other networks, using your wallet to verify your identity. You use the Litentry authenticator for this.
Additionally, the platform can also be used to independently share data with each other. That is, no third party can store data of your identity.
Who are the founders of Litentry?
Litentry was founded by Hanwen Cheng, a Chinese software developer who, for example, was the product owner of Parity, an Ethereum offline wallet. Litentry has offices in Berlin, Munich and Hangzhou, as well as many teams working from home spread around the world. Other than that, not much is known about the team behind Litentry.
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