Today’s airdrop is Knocknock Network. Knocknock Network is an integrated digital ID verification platform that’s built on the Ethereum and Hyperledger blockchains. The airdrop is worth up to 1,000 KNO tokens (about $10). The service is airdropping 10 million tokens total.
Identity theft is a massive worldwide problem. Security provider Gemalto reported that data breaches compromised 4.5 billion records in just the first half of 2018 – a 133% increase over the first half of 2017.
Knocknock wants to change this. It plans to overhaul how we manage our identities by allowing users to put their information on a secure, permissionless blockchain identity platform.
How It Works
To use the Knocknock system, a user first registers with Knocknock’s blockchain-based ID system. The user receives a unique ID then uploads any documents to the decentralized platform. Based on the uploaded documents, the system gives the user a rating. (The more documents they upload, the higher the rating.) From there, users can send along their unique ID and their rating for any process that requires ID verification – applying for loans, buying a home, etc.
Why We Like It
Knocknock’s system saves users time and money and keeps their information confidential so they don’t have to hand it over to third parties. It uses biometric ID verification, eliminating the need for a password. And it offers multiple key recovery and backup options. In short, it focuses on all the elements necessary for a robust ID system: user control, ease of use, security, privacy and autonomy.
Knocknock’s total token supply is limited to 400 million, which we like because it establishes a level of scarcity. If the token takes off, it could be worth holding.
The team has clearly outlined Knocknock’s road map and use of funds. And it’s thinking big. It wants to create an entire identity ecosystem. From its white paper:
Knocknock is working with ecosystem partners in identity, blockchain and several vertical industries to ensure the Knocknock Network becomes the de facto underlying platform for self-sovereign identity.
To stimulate network effects for the Knocknock Ecosystem, Knocknock will bridge older identity technologies with blockchain-based identity solutions. The connectivity is expected to function as a bridge, enabling Knocknock to more easily connect to other blockchain-based functions.
How to Claim the Airdrop
Go to the Knocknock Network airdrop page here, then follow the steps listed there. The token distribution will end on June 24 or June 25.
Note: We cannot assist you with completion of the airdrop. Complete all the steps required and contact AirdropAlert or Knocknock Network if you run into any problems.
Never give anyone your email password or private keys. No legitimate airdrop will ask for that information.
Never reuse your email or exchange passwords. Always use unique, random passwords. Write them down and store them somewhere safe. We also recommend setting up a separate email account for airdrops.
Assistant Managing Editor, First Stage Investor