Litentry to Host Community Call on May 22nd



#Litentry is set to host its next community call on May 22nd at 1 pm UTC. The call will provide an opportunity for the community to receive updates about the project and have their questions answered live by the team.

#LIT Info

Litentry is a decentralized platform dedicated to DID (Decentralized Identity) aggregation built on the Substrate framework. It strives to streamline agnostic DID resolutions by consolidating various DID standards into a cohesive identity service, enabling more transparent identity verification and credit computation in the decentralized ecosystem.

The operational facet of Litentry includes its unique protocol for DID aggregation, verification, and credit calculation. The Litentry mobile application acts as a central hub where users can securely compile and manage their decentralized identities, eliminating the complexities associated with disparate DID mechanisms and presenting them in a unified interface.

Central to Litentry’s ecosystem is the LIT token, which possesses multifaceted utility. It’s used for payment during real-time credit computations, rewarding third-party contributors who establish indexed identity databases, staking for attaining the status of an identity registrar, and serving as collateral within DeFi lending and borrowing scenarios.