KaratPrice

(KAT)

Karat is a Web3 data identity project designed to bridge the gap between traditional Web2 digital footprints and Web3 blockchain addresses. The project operates primarily on the zkSync Era platform and functions as a decentralized data access control middleware. Its core objective is to empower users with full ownership and control over their personal data, allowing them to manage and share it securely across different digital landscapes. The project is built on the Karat Network, a decentralized protocol that leverages advanced cryptographic technologies such as Multi-Party Computation and Zero-Knowledge proofs. These technologies ensure that user information, such as email addresses and social media profiles, remains encrypted and private. Users can store this encrypted data on decentralized storage platforms like IPFS and use private keys to grant or revoke access permissions to third-party applications. A central feature of the ecosystem is the Karat ID, an omnichain name service that serves as a foundation for a user's digital identity. By staking a small amount of the native token, users can mint their unique identity and link their Web2 social accounts to their Web3 wallets. This system allows for the creation of verifiable credentials that decentralized applications can query without compromising the user's underlying privacy. The ecosystem includes several key products: 1. Karat Network: The underlying infrastructure for decentralized identity management. 2. Karat Form: A tool for projects to collect wallet addresses and social details for community events and marketing campaigns. 3. Data Marketplace: A platform where users can monetize their data by granting access to researchers or protocols in exchange for rewards. 4. Airdrop Launchpad: A service that helps projects distribute tokens or NFTs to specific community segments. The native token, KAT, serves multiple roles within the network. It is used for governance, allowing holders to participate in the decision-making process for the DAO. It is also required for minting Karat IDs, staking by validators to secure the network, and as a medium of exchange for data requests within the marketplace. Developers and decentralized applications pay for data access using the token, a portion of which may be distributed to the users providing the data. Karat was founded by a team of experienced professionals with backgrounds from major technology firms and has gained support from various blockchain investment groups. By providing a secure layer for identity and data exchange, the project aims to become a fundamental infrastructure for future Web3 social platforms, advertising delivery, and login services. Learn more

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