Is Hedera (HBAR) Halal or Haram?
Shariah compliance review of Hedera (HBAR) by Islamic finance scholars at EthicalNode, with separate verdicts for trading and for staking.
Trading verdict: Comfortable
Hedera Hashgraph is a little bit different than other typical crypto projects. It uses Hashgraph algorithm and has its own native token named HBAR. Some call their whole ecosystem as the next-generation blockchain or blockchain killer. However, with all their different methods with hashgraph algorithm, the feature and the role of the whole network are still the same as other crypto networks. It acts as a store of value and as an asset for the users, making the ecosystem neutral without any dubious features.
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.