PKT
Crypto Overview
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.
Crypto Impact
To assign a comfort level investing in PKT 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 PKT.
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.