Is Harmony (ONE) Halal or Haram?
Shariah compliance review of Harmony (ONE) by Islamic finance scholars at EthicalNode, with separate verdicts for trading and for staking.
Trading verdict: Comfortable
Harmony is a blockchain platform that enables the development and use of decentralized applications (DApps). It aims to transform the functioning of DApps through random state sharding, allowing blocks to be created in just seconds. <br><br>Sharlife.my: Harmony is classified as Shariah Compliant. No elements that contradict Shariah principles have been identified.
Staking verdict: Questionable
Permissibility of staking is questionable, because it is a layer 1 blockchain, with various dApps running their applications on the blockchain, including DEFI, Lending and Borrowing, Gambling, etc, hence impermissible transactions might get recorder in L1 blocks, thus benefiting validators with commissions. It is better to avoid staking this protocols until we receive final fatwas from high rank scholars.
Browse all Shariah-compliant cryptocurrencies on the EthicalNode halal crypto screener.