Like most early cryptocurrencies, ZCASH uses proof of work to produce new blocks. There is no issue about it as it acts as a store of value and focuses on becoming a medium of exchange for people's daily transactions. ZCASH offers users private transactions as an option for better privacy, the same feature as MONERO. Thus, we concluded that ZCASH 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 | The project is similar to Bitcoin but with a privacy mode option. The project is clear from any prohibited elements. | Passed |
| Financials | The token is not backed by any equity, thus there is no financial screening on this token. | Passed |
| Token | The token can be used as a medium of exchange. | Passed |
| Staking Method | No staking | Passed |
Read the source document and verify project fundamentals.