42-coin
Crypto Overview
Overview
42-coin is an extremely scarce cryptocurrency with a fixed supply of exactly 42 coins, launched in 2014. It implements a hybrid Proof of Work and Proof of Stake consensus mechanism.
Purpose and Utility
The primary stated purpose of 42-coin is to serve as a store of value and medium of exchange, with its extreme scarcity being its main feature. The project aimed to create one of the scarcest cryptocurrencies in existence.
Business Model and Operations
The project operates as a basic cryptocurrency, allowing peer-to-peer transfers and mining/staking operations. There is no evidence of involvement in any prohibited activities like gambling, interest-based lending, or adult content.
Real-World Adoption
Due to its extreme scarcity and high unit price, actual usage as a medium of exchange is limited. Trading volume is relatively low, though this doesn't affect its halal status.
Development Activity
The project has seen minimal recent development activity, though the basic transfer and mining functionality remains operational. The network continues to process transactions and maintain consensus.
Token Distribution
With only 42 coins in existence, detailed information about current holdings is limited. The initial distribution was done through mining, with no pre-mine or founder allocation identified.
Crypto Impact
To assign a comfort level investing in 42-coin from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to 42-coin.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.