Ark
Crypto Overview
Overview and Intended Utility
Ark is a blockchain platform designed to provide an ecosystem for blockchain technology adoption, focusing on interoperability and scalability. The project aims to create a network of interconnected chains and provide tools for blockchain development.
Business Model Analysis
The platform utilizes a Delegated Proof of Stake (DPoS) consensus mechanism, where ARK token holders can vote for delegates who secure and maintain the network. The business model focuses on providing blockchain development tools, cross-chain communication, and enterprise solutions.
Actual Utility Assessment
The development activity on the platform has significantly decreased since 2021. While the project maintains its GitHub repository, commits and updates have become infrequent. The intended cross-chain functionality and wide-scale adoption haven't materialized as originally planned.
Token Distribution and Governance
The initial token distribution included: 15% to founders and team, 75% for public sale, and 10% for bounties and rewards. The team's tokens had a vesting schedule, demonstrating some commitment to long-term development. However, the current token distribution shows significant concentration among large holders.
Development vs Marketing
The project historically focused more on development than marketing, which aligns with Islamic principles of creating real value. However, recent years have shown decreased development activity while maintaining marketing efforts.
Revenue Model and Technology
The platform's revenue model is based on network fees and enterprise solutions, avoiding interest-based mechanisms. The DPoS system provides rewards for network participation without involving riba.
Crypto Impact
To assign a comfort level investing in Ark from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Ark.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.