Internet Computer Technology
Crypto Overview
Project Overview
The Internet Computer project aims to create a decentralized cloud computing platform that extends the functionality of the internet. It is built and maintained by the DFINITY Foundation, using advanced blockchain technology to create a platform where developers can deploy smart contracts and decentralized applications (dApps).
Purpose and Utility
The primary purpose of Internet Computer is to provide a decentralized computing platform that allows developers to build and deploy applications directly on the blockchain, rather than relying on traditional cloud services. The native token ICT is used for governance, network operation, and as a means of payment for computational resources.
Business Model Analysis
The business model focuses on providing decentralized computing infrastructure, which aligns with halal principles as it involves the exchange of real value (computational resources) for payment. The platform does not inherently involve any prohibited activities like interest-based lending or gambling.
Real-World Adoption
The Internet Computer ecosystem has seen growing adoption with numerous dApps being built on the platform, including social media applications, DeFi protocols, and games. The platform maintains active developer communities and regular protocol updates.
Token Distribution and Governance
The token distribution includes allocations for early investors, team members, and the community. While there is a significant portion allocated to the founding team and early investors, there are vesting schedules in place to prevent immediate dumping of tokens.
Platform Development
There is substantial evidence of ongoing development activity, with regular updates to the protocol and active GitHub repositories. The technical documentation is comprehensive, and the team regularly publishes updates on technological progress.
Crypto Impact
To assign a comfort level investing in Internet Computer Technology 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 Internet Computer Technology.
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.