Is ICON (ICX) Halal or Haram?
Shariah compliance review of ICON (ICX) by Islamic finance scholars at EthicalNode, with separate verdicts for trading and for staking.
Trading verdict: Comfortable
Founded in August 2017, ICON has dedicated years to developing its Layer 1 (L1) ecosystem and promoting sustainable cross-chain infrastructure. Acknowledging the challenges many applications face in cross-chain environments—such as security, scaling, and speed—ICON provides a solution for seamless cross-chain operations. Its Cross-Chain Framework simplifies development through user-friendly tools like xCall General Message Passing and secure bridging connections. For an updated overview of connected blockchains and to check application compatibility, visit the ICON Community website and explore the documentation.
Staking verdict: Questionable
Icon allows developers build dApps in their environment. Delegated Proof-of-Stake consensus protocol is available to participate in. <br><br>However, some applications built on this platform may potentially involve Shariah non-compliant elements, leading to questions regarding participation in the consensus protocol for this platform.
Browse all Shariah-compliant cryptocurrencies on the EthicalNode halal crypto screener.