Shiden Network
Crypto Overview
Overview
Shiden Network is a smart contract platform that serves as a parachain on the Kusama network, focusing on providing infrastructure for decentralized applications (dApps) and WebAssembly (WASM) smart contracts. It is essentially the canary network of Astar Network, designed to be a testing ground for features before they are implemented on the main Astar chain.
Intended Utility
The SDN token serves multiple purposes within the Shiden ecosystem: It is used for network governance, paying transaction fees, and participating in the dApp staking mechanism which allows token holders to stake their tokens to support dApp developers.
Actual Utility
The network has demonstrated real utility through its smart contract functionality and dApp ecosystem. Developers are actively building on the platform, utilizing its WASM smart contracts and EVM compatibility. The network supports various DeFi applications, NFT platforms, and other decentralized services.
Token Distribution and Governance
The token distribution appears to be reasonably fair, with a significant portion allocated to community initiatives and development. There are vesting schedules in place for team allocations, showing commitment to long-term development. The project maintains transparency in its operations and development progress through regular updates and community governance.
Technology and Development
The platform shows consistent development activity, with regular updates to its infrastructure and features. The focus on WASM smart contracts provides a legitimate technological differentiator from other blockchain platforms. The team has maintained a steady pace of development and implementation of new features.
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.