Name : Ethereum (ETH)
ETH Price : $3,273.24900 +2.91%
Consensus Mechanism : Proof of Work
Volume: 11,675,606,839
Market Cap: 399,490,794,289
Shariah Judgement
As of now, the projects provided by Ethereum appear to be in accordance with Shariah principles.
Shariah Status : Yes
Last Screening: Q3 2023
Legitimacy:
Project:
Token:
Reward:
Yes
Legitimacy
Shariah
People
Legitimacy Analysis
| Details | Status | |
|---|---|---|
| Whitepaper | Ethereum's legitimacy is reinforced by its well-documented whitepaper and clear project goals, showcasing achievable objectives. | Passed |
| Project | Ethereum maintains its legitimacy by actively posting project updates on its social media platforms, demonstrating transparency and commitment to its goals. | Passed |
Shariah Analysis
| Project/Products | Use Case | Status |
|---|---|---|
| Blockchain | Ethereum provides a blockchain, a decentralized and distributed ledger technology, where transactions are recorded in a secure and transparent manner. | Passed |
| Turing-complete Programming Language | Ethereum's built-in programming language, Solidity, enables developers to create smart contracts and decentralized applications with complex logic and state transition functions. | Passed |
| Alternative Protocol | Ethereum serves as an alternative protocol for building decentralized applications, offering different tradeoffs compared to other blockchain platforms. | Passed |
| Use Case | Status |
|---|---|
| ETH serves as the primary currency used within the Ethereum ecosystem for transactions and interactions with decentralized applications (DApps). | Passed |
| ETH enables users to send and receive funds directly to and from one another without the involvement of intermediaries like banks. | Passed |
| ETH is used to pay transaction fees when sending ETH or using Ethereum applications. These fees contribute to the security and functioning of the Ethereum network. | Passed |
| System | Status | Interpretation |
|---|---|---|
| Mining Rewards | Passed | Miners in Ethereum are rewarded for their computational efforts in the mining process. |
| Validator Rewards | Passed | Validators are randomly selected to propose blocks of transactions, and they are also rewarded with small amounts of newly-issued ETH for performing this crucial function. |
People Analysis
| Details | Status | |
|---|---|---|
| Team | Ethereum's team is comprised of highly qualified experts with diverse backgrounds in blockchain technology, cryptography, and software development, instilling confidence in their reliability to successfully organize and lead the projects. | Passed |
Weak
Strong
Strong
Weak
Weak
Weak
Weak
3725.27
3621.63
3538.86
3435.22
3352.45
4066.44
3517.99
3244.52
3178.99
3112.7
Overview
Ethereum is a blockchain platform designed to provide developers with a powerful and flexible environment for creating decentralized applications (DApps) and smart contracts. It offers a fully-fledged Turing-complete programming language, enabling users to encode arbitrary state transition functions and build a wide range of systems and applications. With a focus on rapid development, security for smaller applications, and efficient interactions between DApps, Ethereum serves as an alternative protocol for decentralized application development. Its abstract foundational layer empowers developers to define their own rules for ownership, transaction formats, and state transitions, fostering innovation and scalability in the world of decentralized technologies.
Whitepaper & Documents
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