Is EOS (EOS) Halal or Haram?
Shariah compliance review of EOS (EOS) by Islamic finance scholars at EthicalNode, with separate verdicts for trading and for staking.
Trading verdict: Comfortable
The entire ecosystem and the token are considered very neutral. EOS functions as a store of value similarly to Bitcoin, but it utilizes a proof-of-stake consensus mechanism. It is claimed to be more efficient and faster than other cryptocurrencies in terms of transaction speeds. Based on these characteristics, this token is classified as Shariah compliant. <br><br>Source: sharlife.my
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.