The Analysis of the Ethereum classic is quite similar to Bitcoin. It operates and functions as a store of value with a proof of work consensus mechanism. Ethereum classic is Shariah Compliant.
| Category | Details | Status |
|---|---|---|
| Legitimacy | Not regulated by any countries or regulatory bodies. The project has a clear roadmap and genuine product on the blockchain, while the token/coin has a fundamental underlying value that allows it to be categorized as "Mal" | Passed |
| Project | Ethereum Classic is a decentralized blockchain platform that lets anyone build and use decentralized applications that run on blockchain technology. Providing the platform for developing Daps are permissible. | Passed |
| Financials | The token is not backed by any equity, thus there is no financial screening on this token. | Passed |
| Token | ETC can be used for governance and a utility token. | Passed |
| Staking Method | Users may acquire ETC by allocating computer resources to support the Ethereum Classic network. This method is commonly referred to as "mining" for block rewards. New block procurement method operated by this protocol complies with the Shariah rulings. | Passed |
Read the source document and verify project fundamentals.