SatoshiVM
Crypto Overview
Project Overview
SatoshiVM (SAVM) is a Layer 1 blockchain platform that aims to bring Bitcoin's security model to smart contract functionality. It utilizes Bitcoin's Proof of Work mining for consensus while enabling Ethereum Virtual Machine (EVM) compatibility for smart contracts.
Purpose and Utility
The primary purpose of SAVM is to serve as the native token for the SatoshiVM ecosystem, used for transaction fees and governance. The project aims to leverage Bitcoin's security while enabling smart contract functionality similar to Ethereum.
Technology and Development
The platform is currently in active development, with its mainnet launched in early 2024. The project maintains open-source code repositories and has demonstrated ongoing development activity.
Token Distribution and Governance
SAVM tokens are distributed through a fair launch model, with no pre-mine or founder allocation. The token distribution occurs through mining rewards, similar to Bitcoin's model. This approach aligns with principles of fair distribution and minimal concentration of ownership.
Current Usage and Adoption
The platform is in its early stages, with growing adoption among developers and users interested in combining Bitcoin's security model with smart contract capabilities. The ecosystem is actively developing with various decentralized applications being built on the platform.
Revenue Model
The primary revenue mechanism is through transaction fees paid in SAVM tokens, which are distributed to miners securing the network. This model does not involve interest-bearing mechanisms or prohibited activities.
Crypto Impact
To assign a comfort level investing in SatoshiVM 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 SatoshiVM.
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.