Itheum
Crypto Overview
Overview
Itheum positions itself as a data protocol that enables users to trade and monetize their personal data. The platform operates on the MultiversX (formerly Elrond) blockchain and aims to create a decentralized data marketplace.
Purpose and Utility
The ITHEUM token serves multiple functions within the ecosystem: governance rights for protocol decisions, payment medium for data trades, and staking for platform privileges. The platform allows users to create 'Data NFTs' and 'Data Coalitions' to monetize personal and organizational data.
Business Model Analysis
The core business model revolves around facilitating transparent and ethical data trading. Users can tokenize their data, set prices, and trade directly with buyers. The platform takes a small fee from transactions to sustain operations. This model appears to align with Islamic principles as it involves clear value exchange and transparent trading.
Development and Adoption
The project shows active development on GitHub and maintains regular updates to its protocol. Partnerships include collaborations with MultiversX and various data-focused enterprises. While adoption is still in early stages, the platform has launched its mainnet and shows consistent development activity.
Token Distribution
Initial token distribution allocated 15% to the team with a vesting period, 25% for ecosystem development, and the remainder distributed through public sales and platform growth initiatives. The vesting schedule appears reasonable and designed to align long-term incentives.
Crypto Impact
To assign a comfort level investing in Itheum 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 Itheum.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
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