PolySwarm
Crypto Overview
Overview
PolySwarm is a decentralized threat intelligence marketplace where security experts and anti-malware providers compete to detect threats and protect users. The platform uses NCT (Nectar) tokens as its native cryptocurrency to facilitate transactions between threat detection providers and customers.
Intended Utility
The NCT token serves multiple purposes within the PolySwarm ecosystem: It acts as a means of payment for threat detection services, rewards security experts for accurate threat identification, and enables participation in the platform's governance system. Security vendors can earn NCT by correctly identifying threats, while users spend NCT to access threat detection services.
Actual Utility
The platform is operational and actively used by cybersecurity professionals and organizations. PolySwarm has partnerships with several cybersecurity firms and continues to develop its infrastructure. The project maintains regular development activity on GitHub and has a functioning product that aligns with its stated purpose.
Token Distribution and Governance
The token distribution appears reasonable, with allocations for development, marketing, and community growth. The project maintains transparency regarding token economics and has implemented vesting periods for team tokens. The development team is known and has relevant cybersecurity experience.
Revenue Model
The revenue model is based on legitimate business activities, primarily the exchange of cybersecurity services for tokens. There is no interest-bearing component or gambling mechanism in the core protocol.
Crypto Impact
To assign a comfort level investing in PolySwarm 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 PolySwarm.
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.