Bityuan
Crypto Overview
Overview
BitYuan (BTY) is a Chinese blockchain platform launched in 2015, designed to provide infrastructure for enterprise blockchain solutions. The project aims to serve as both a cryptocurrency and a platform for building decentralized applications.
Purpose and Utility
BitYuan's stated purpose is to facilitate enterprise blockchain adoption in China and serve as a platform for developing business applications. The network employs a Proof-of-Work consensus mechanism and claims to offer smart contract functionality.
Current Usage and Adoption
Research indicates extremely limited public information about current real-world usage and adoption. While the project remains active, detailed information about specific enterprise implementations or partnerships is scarce. The token appears to be primarily traded on Asian exchanges.
Development Activity
The project maintains some development activity, though public repositories show limited recent updates. The main network continues to function, but transparency regarding ongoing development initiatives is minimal.
Business Model Analysis
The core business model focuses on enterprise blockchain solutions and cryptocurrency transactions, which are permissible activities under Islamic finance principles. No evidence was found of involvement in prohibited activities such as interest-based lending or gambling.
Token Distribution and Governance
Detailed information about token distribution and governance structure is limited in English-language sources. The project appears to maintain a relatively decentralized structure, though specific details about founder holdings are not readily available.
Crypto Impact
To assign a comfort level investing in Bityuan 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 Bityuan.
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.