Is Kadena (KDA) Halal or Haram?
Shariah compliance review of Kadena (KDA) by Islamic finance scholars at EthicalNode, with separate verdicts for trading and for staking.
Trading verdict: Questionable
Kadena is a proof-of-work blockchain that merges Bitcoin's PoW consensus with directed acyclic graph (DAG) principles to enhance scalability. It aims to provide Bitcoin-level security while offering high throughput for enterprises. With a decentralized, multi-chain approach, Kadena supports industrial scalability for global financial systems and remains energy-efficient, delivering more transactions with less energy. Additionally, Kadena features crypto gas stations, enabling businesses to cover customers' gas fees, easing blockchain adoption for companies. One of the use cases mentioned on the official website involves lending protocols built on smart contracts, which may raise Shariah concerns regarding this cryptocurrency.
Staking verdict: Questionable
There is no Proof-of-Stake consensus protocol for this blockchain, which operates on PoW and ZK rollups. Additionally, based on our conclusion about the permissibility of buying and selling the KDA coin under Shariah standards, we advise against participating in any instruments that claim to be 'staking' or are related to this token.
Browse all Shariah-compliant cryptocurrencies on the EthicalNode halal crypto screener.