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Litentry is an identity aggregation protocol that aims to allow identity data transfer between multiple blockchain networks. Founded in 2019, Litentry aims to aggregate and verify user’s identities, or decentralised identifiers (DIDs), across multiple decentralised applications. Credit scores/gradings will also be offered. According to the whitepaper, the platform is powered by the Substrate blockchain, with the intention of becoming a parachain on the Polkadot network. Focusing on incognito on-chain data processing, the project aims to preserve the privacy of users but allow for the consolidation of identifying information. The practical use cases for Litentry reach far and wide, with users able to access personal information such as credit and on-chain reputations. This data can then be used when applying for leverage within the decentralised finance (DeFi) sector. Litentry users can also generate community credit based on a user’s participation and contribution within projects, which can be put towards voting power within a platform. LIT is the native token of Litentry Network and offers 4 main use cases. The token is used for the collection of all fees. It is used to reward all those that provide indexed identity databases and as a requirement for those that wish to provide them – formerly known as Identity Registrars. Finally, the token can be used as collateral within other DeFi applications.
Litentry (LIT) is the 585th largest cryptocurrency in the world by market cap, valued at $48,301,872. The current price of Litentry is $1.55, which is 4.876% higher than yesterday. Prices have ranged between $1.56 and $1.47 over the past 24 hours. All prices are listed in US dollars and accurate as of January 26, 2022 05:01 UTC.
| Coin symbol | LIT |
|---|---|
| Coin Marketcap | US$48,301,872 |
| Total LIT supply | 100,000,000 |
| Circulating LIT | 31,014,049 |
| Current price | US$1.55 |
| All time high | US$13.31 |
Historical prices compared with the price of US$1.55.
| 1 hour | 1.38% |
|---|---|
| 24 hours | 4.88% |
| 7 days | -36.36% |
| 14 days | -35.60% |
| 30 days | -54.21% |
|---|---|
| 60 days | -61.28% |
| 200 days | -39.14% |
| 1 year | N/A |
Disclaimer: Cryptocurrencies, including Litentry, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of LIT is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Litentry or any other cryptocurrency discussed.