Alterna Network is a Layer-1 blockchain that offers various services and features, including storing smart contract code and transaction data. It is compatible with Ethereum and other EVM-compatible chains, allowing easy deployment of existing dApps. It provides utilities like a testnet, dApp development platform, mainnet, explorer, token locker, and features for swapping, bridging, and stacking with low costs and permissionless access. Payment channels and simple smart contracts are also supported. As of now, ALTN is considered shariah compliant, as there are no features, products, or projects involving prohibited activities.
| Category | Details | Status |
|---|---|---|
| Legitimacy | Alterna Network appears to have certain indicators of legitimacy. It has a clear roadmap, which suggests a structured plan for the development and progress of the project. The active presence on social media, specifically on Twitter, indicates ongoing communication and engagement with the community. The updates on Telegram further demonstrate a commitment to keeping the community informed. The existence of valuable documents also implies a level of transparency and willingness to provide information to users. However, the lack of clear information about the team behind the project could be a potential concern as it makes it difficult to assess the experience and credibility of the individuals involved. | Passed |
| Project | Alterna Network appears to have certain indicators of legitimacy. It has a clear roadmap, which suggests a structured plan for the development and progress of the project. The active presence on social media, specifically on Twitter, indicates ongoing communication and engagement with the community. The updates on Telegram further demonstrate a commitment to keeping the community informed. The existence of valuable documents also implies a level of transparency and willingness to provide information to users. However, the lack of clear information about the team behind the project could be a potential concern as it makes it difficult to assess the experience and credibility of the individuals involved. | Passed |
| Financials | The token is not backed by any equity, thus there is no financial screening on this token. | Passed |
| Token | ALTN, the native currency of the Alterna blockchain, serves multiple use cases within the ecosystem. It is required for paying transaction fees, enabling smooth and secure transactions on the network. ALTN holders can stake their tokens to become validators, participating in block validation and earning rewards. Validators with larger staked amounts have greater voting power on protocol changes and governance decisions. Additionally, ALTN holders can delegate their tokens to validators and receive a share of block rewards. Furthermore, ALTN can be used for payments, offering faster and potentially more cost-effective transactions without the need for smart contract interactions. | Passed |
| Staking Method | The staking and rewards system in Alterna Network involves validators and delegators. Validators are responsible for publishing agreed-upon blocks during consensus rounds and are rewarded with newly minted ALTN tokens and transaction fees. Delegators have the freedom to choose validators and stake any amount of ALTN with them. By delegating ALTN, delegators participate in the staking process. The Alterna Staking platform provides a convenient way for delegators to stake their ALTN tokens with their chosen validators. This system incentivizes both validators and delegators to actively participate in the network and contribute to its security and operation, with validators being rewarded for their efforts and delegators having the opportunity to earn rewards through their staked tokens. | Passed |
Read the source document and verify project fundamentals.