Shiden Network
Crypto Overview
Purpose and Utility
Shiden Network is a smart contract platform on the Kusama network, serving as the sister network to Astar (formerly Plasm Network). It functions as a layer-2 scaling solution that supports multiple virtual machines, including EVM and WebAssembly, enabling developers to build and deploy decentralized applications (dApps).
Business Model and Current Usage
The platform's core utility includes smart contract deployment, cross-chain interoperability, and dApp hosting. SDN tokens are used for governance, staking, and paying transaction fees on the network. The platform implements a unique 'dApp staking' mechanism where users can stake tokens to support developers, creating a sustainable ecosystem for dApp development.
Development Activity and Adoption
The project maintains active development, with regular updates and improvements to the network infrastructure. The development team consistently pushes updates through their GitHub repository, showing genuine effort in building and maintaining the platform. The network has attracted several dApp projects, particularly in the DeFi and NFT spaces.
Token Distribution and Founder Involvement
The token distribution appears relatively balanced, with mechanisms in place to support network development and community initiatives. The founding team maintains transparency in their operations and development processes. The project demonstrates a focus on technological development rather than pure marketing.
Technical Infrastructure
The platform's multi-virtual machine approach allows for diverse application development, supporting both EVM and WebAssembly smart contracts. This technical architecture provides real utility for developers and users within the Kusama ecosystem.
Crypto Impact
To assign a comfort level investing in Shiden Network 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 Shiden Network.
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.