Packet

Overview

PKT is a proof-of-work cryptocurrency launched in 2019 that aims to incentivize users to share their unused internet bandwidth through a novel mining algorithm called PacketCrypt. The project's goal is to create a decentralized bandwidth marketplace and content delivery network.

Purpose and Utility

The primary stated purpose of PKT is to create an economic incentive for individuals and organizations to share their excess internet bandwidth. Miners earn PKT tokens by contributing bandwidth and computing resources to the network. Currently, the network is being used as intended, with active mining operations and bandwidth sharing taking place.

Technical Implementation

PKT uses a two-phase mining process: Phase 1 involves bandwidth-intensive 'announcement' mining, while Phase 2 consists of block mining that processes these announcements. This design creates a practical utility for bandwidth sharing.

Development Activity and Adoption

The project maintains active development on GitHub, with regular updates to the core protocol. The PKT ecosystem includes mining software, wallet implementations, and network tools. While adoption is still limited, there is genuine usage of the network for its intended bandwidth-sharing purpose.

Token Distribution

PKT follows a fair launch model with no pre-mine or ICO. All tokens are created through mining, with no special allocation to founders or developers. This aligns well with principles of fairness and transparency.

Revenue Model and Operations

The project's revenue model is based entirely on proof-of-work mining rewards, with no lending, staking, or interest-bearing components. The core operation of bandwidth sharing and mining does not involve any prohibited activities under Islamic law.