Wanchain is a protocol that supports cross-chain functionality. Wanchain offers decentralized bridges connecting Bitcoin, Ethereum, Ripple, and EOS with other chains such as Polkadot. These bridges are provided through collateralized pools. There are two main validators in Wanchain, PoS validator and Storeman Validator. The PoS validator performs the consensus algorithm for the block production while the Storeman Validator verifies the cross-chain transaction. As it supports the development of smart contracts, developers can develop their dApps on Wanchain. Overall, the features and operation of the protocol are permissible. We classified Wanchain 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 offered bridges service to connect other blockchains. All the features offered are neutral. | 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, interacting with DeFi and staking. | Passed |
| Staking Method | Contributing to staking will earn staking rewards from transaction fees. The reward system is permissible as it does not contain Riba, Gharar, or Maisir. | Passed |
Read the source document and verify project fundamentals.