Diamond
Crypto Overview
Overview
Diamond (DMD) is a proof-of-stake cryptocurrency launched in 2013. The project aims to serve as a store of value and medium of exchange, with features focused on security and scarcity.
Purpose and Utility
The primary stated purpose of Diamond is to function as a digital currency with strong emphasis on long-term value preservation through limited supply and proof-of-stake consensus. The actual current usage aligns with this intended purpose, as it is primarily used for trading and staking.
Business Model Analysis
The business model is straightforward and transparent, focusing on providing a secure and scarce digital asset. The project does not involve any lending, gambling, or other potentially problematic activities from an Islamic finance perspective.
Real-World Adoption
Current adoption is limited, with most activity centered around trading on smaller cryptocurrency exchanges and staking operations. The project maintains active development, though at a modest pace.
Token Distribution
Diamond had a fair launch in 2013 with no pre-mine or ICO, suggesting founders did not receive preferential allocation. The current distribution appears relatively decentralized due to its long history and proof-of-stake mechanism.
Development Activity
While development activity is not extensive, the project maintains basic protocol updates and security improvements. The focus appears to be on stability rather than rapid feature development.
Crypto Impact
To assign a comfort level investing in Diamond 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 Diamond.
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.