Litentry is a multi-network decentralized identity aggregation protocol with Decentralized Identity (DID) indexing mechanism and Substrate-based loan calculation network. LIT coin is also Litentry’s native utility token. Detailed information about what is Litentry coin (LIT), how it works, how much is the price, how to buy a horse, etc. is in the continuation of the content. You can browse here for information about CEEK coin.
What is Litentry coin (LIT) and how does it work?
Litentry is a multi-network decentralized identity aggregation protocol with Decentralized Identity (DID) indexing mechanism and Substrate-based loan calculation network. The purpose of Litentry is to enable DID collection, verification and credit calculation.
LIT coin is Litentry’s native utility token and is used in the following situations:
- Payment: Fees are paid in LITs when a user requests a real-time loan calculation over the network.
- Reward: Third parties that set up indexed identity databases will receive rewards in LIT.
- Staking: to become an identity registrar, it is necessary to deposit a certain amount of LIT.
- Collateral: Used as collateral for DeFi lending and borrowing services.
It is traded on Substrate, which has the best features and technologies in the Litentry Blockchain network. Litentry aims to be the Parachian of Polkadot Network and leverage the thriving cross-chain ecosystem and security.
How to buy Litentry coins? How much is the LIT coin price?
Litentry coin can be purchased from crypto exchanges where it is listed. It is necessary to make sure that the exchange is “trusted and well known” before trading. As of November 29, 2021, the price of 1 LIT token is around $ 6.01 (price can change instantly). The circulating supply of Litentry coins is 31,014,049 LITs, with a total supply of 100,000,000 LITs.
Caution: The information contained in this content is for informational purposes only. It is not investment advice.
For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency