Litentry is a network that provides decentralized and privacy-oriented identity collection computing services. The project focuses on decentralized identity (DID), allowing user identities to be linked to multiple distributed protocols. Besides that, the platform works as a DID collector, where it collects, indexes and distributes DIDs to blockchains. The native cryptocurrency of the platform is LIT. The network performs all the services mentioned above in a decentralized and verifiable manner.
It also works towards the greater goal of eliminating identity redundancy in the Web3 powered application ecosystem. The platform is built on the Substrate blockchain. Litentry is the first decentralized identity protocol in the Polkadot ecosystem. It aims to be the Parachain of the Polkadot network and for this purpose it conducts cross-chain transactions. The platform stands out as a security and privacy focused project. The platform is decentralized and democratically managed by LIT coin holders.
$Lit Price Prediction
Lit, whose price is currently $0.84, broke the falling channel in bitcoin parity. It is not difficult for the price to be 5 dollars in the medium term. My long term expectation is $40.
(not investment advice)