cheqd
Crypto Overview
Purpose and Utility
Cheqd is a blockchain network designed to provide infrastructure for Self-Sovereign Identity (SSI) and decentralized identity management. The CHEQ token serves as the native currency for the network, used for governance and paying for identity-related services.
Business Model
The platform enables organizations and individuals to create, manage, and verify digital identities in a decentralized manner. The business model focuses on providing verifiable credentials and identity solutions while maintaining user privacy and data sovereignty. Revenue is generated through network fees paid in CHEQ tokens for identity-related transactions.
Real-World Adoption
Cheqd has established partnerships with several identity solution providers and organizations in the SSI ecosystem. The network has seen growing adoption among identity verification service providers and enterprises requiring decentralized identity solutions.
Platform Development
The project maintains active development with regular updates to its core protocol and tools. The development team consistently pushes updates to the GitHub repository and maintains transparent communication about technical progress.
Token Distribution
The token distribution includes allocations for development, ecosystem growth, and community initiatives. The project implements vesting schedules for team tokens and maintains transparency regarding token allocations.
Technology Analysis
The underlying technology focuses on identity management and verification, which aligns with halal principles as it provides real utility and facilitates legitimate business operations. The platform does not involve interest-bearing mechanisms or gambling elements.
Crypto Impact
To assign a comfort level investing in cheqd 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 cheqd.
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.