Is Beam (BEAM) Halal or Haram?
Shariah compliance review of Beam (BEAM) by Islamic finance scholars at EthicalNode, with separate verdicts for trading and for staking.
Trading verdict: Questionable
The $BEAM token is the native cryptocurrency of the Beam network, a gaming platform supported by the Merit Circle DAO. Beam connects gamers and developers to shape the future of gaming. A key feature of Beam is its SDK, which provides developers with flexible tools to integrate blockchain elements into their games. The $BEAM token is used for transactions within the network, including asset transfers and interactions with smart contracts, enhancing the gaming experience. Sharlife.my analisys: There is a potential of engaging in Shariah non-empliant activities
Staking verdict: Questionable
The $BEAM token is the native cryptocurrency of the Beam network, a gaming platform supported by the Merit Circle DAO. Beam connects gamers and developers to shape the future of gaming. A key feature of Beam is its SDK, which provides developers with flexible tools to integrate blockchain elements into their games. The $BEAM token is used for transactions within the network, including asset transfers and interactions with smart contracts, enhancing the gaming experience. Sharlife.my Analisys: There is a potential of engaging in Shariah non-empliant activities Participating in consensus protocol is not available for users. 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.