Is LayerZero (ZRO) Halal or Haram?
Shariah compliance review of LayerZero (ZRO) by Islamic finance scholars at EthicalNode, with separate verdicts for trading and for staking.
Trading verdict: Comfortable
LayerZero is an interoperability protocol that connects blockchains for developers to build omnichain applications, tokens, and experiences. The protocol relies on immutable on-chain endpoints, a configurable Security Stack, and a permissionless set of Executors to transfer censorship-resistant messages between chains. Sharlife.my Analisys: The project does not encounter any issues; it is solely focused on innovation and the technology of blockchain.
Staking verdict: Questionable
To our knowledge, ZRO cannot be staked because we do not currently consider LayerZero to be a proof-of-stake network. This is why any so called "staking" or other instrument with a fixed yield for this cryptocurrency is at least questionable, because it lacks participating in creating new blockchain transactions in the blockchain.
Browse all Shariah-compliant cryptocurrencies on the EthicalNode halal crypto screener.