Ontology is a blockchain/distributed ledger network which combines a distributed identity system, distributed data exchange, distributed data collaboration, distributed procedure protocols, distributed communities, distributed attestation, and various industry-specific modules. After a deep review has been made on the whole ecosystem, nothing seems dubious besides the protocol is only aiming to provide higher security for user identity data. We concluded ONTOLOGY as 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 building a regulatory compliant technology to access Web3. A solution for privacy and security for a network. | 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 and staking. | Passed |
| Staking Method | Proof of stake method mechanism by this protocol complies with Shariah's rulings. Staking will be rewarded by transaction fees. | Passed |
Read the source document and verify project fundamentals.