Shardus
Crypto Overview
Overview
Shardus (ULT) is a cryptocurrency project focused on creating a scalable blockchain platform that enables sharding - a technique to improve blockchain transaction processing by splitting the network into smaller pieces. The ULT token serves as the native utility token of the Shardus network.
Purpose and Utility
The primary intended purpose of ULT is to serve as a utility token within the Shardus ecosystem. It is designed to be used for: 1) Paying network fees for transactions and smart contract execution, 2) Staking to secure the network through the proof-of-stake consensus mechanism, 3) Governance participation in the Shardus DAO.
Business Model Analysis
The business model appears to be focused on legitimate technological development, with no apparent involvement in prohibited activities like gambling or interest-based lending. The project emphasizes technical development of blockchain scaling solutions rather than speculative trading.
Development Activity
The project maintains active development on GitHub, with regular commits and updates to their codebase. The team continues to work on implementing sharding technology and improving network scalability.
Token Distribution
Based on available information, the token distribution appears reasonable with no excessive concentration among founders. There are vesting schedules in place for team allocations.
Crypto Impact
To assign a comfort level investing in Shardus 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 Shardus.
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.