Karat $KAT

The Karat project is a novel cryptocurrency platform that utilizes on-chain Multi-Party Computation (MPC) and Zero-Knowledge (ZK) technologies. It aims to create a sharable Web 2 & 3 ID data layer by encrypting user data, linking it to the user's wallet, and storing it on the InterPlanetary File System (IPFS). This technology allows users and nodes to have completely decentralized control over all data access permissions, making it a robust base for future Dapps requiring Web3 social, data indexing, advertising delivery, and login permission calls.

Unique Features of the Karat Project

Karat stands out as the largest and most active protocol on Zksync, boasting over 250,000 KYC wallets. Each user has verified their Web3 wallet and Web2 ID/behavior data. The project has gained significant traction, with over 100 protocols requesting to stake and pay for these data in its alpha development stage. Also, Karat's genesis validators comprise top-tier organizations like KCC, OKX, Bitmart, NEO, and other notable DeFi and GameFi projects.

MPC Data Infrastructure

Karat's MPC data infrastructure allows users to control data access permissions for different Dapps. This feature enables users to use Zero-Knowledge Proofs (ZKP) to authenticate their Web2 behavior credentials without revealing their identities. As such, users can log into different platforms using a single ID, retaining ZKProof for all their credentials on Web2 & Web3 without compromising privacy.

History of the Karat Project

The Karat project hosted an Initial DEX Offering (IDO) on its official website between 7/19 and 8/19. The IDO comprised two rounds, with a combined sale amount of $517,092.

Future Developments

The project has a roadmap extending up to Q3 2024, involving developments like the creation of a Karat-specific EIP standard and the revolution of online authorization with W3Auth. Karat also aims to integrate Account Abstraction (EIP4337) into the Karat Network and incorporate Zero-Knowledge (ZK) technology, among other advancements.

Token Utility

The KAT token, the cryptocurrency of the Karat network,