EOS
Crypto Overview
Overview
EOS is a blockchain platform designed for developing decentralized applications (dApps). It was created to address scalability issues in blockchain technology by implementing a delegated proof-of-stake (DPoS) consensus mechanism.
Intended Utility
EOS was designed as a platform for building and deploying decentralized applications with features including user authentication, server hosting, and cloud storage. The EOS token serves as the native cryptocurrency of the network, used for resource allocation (CPU, NET, RAM) and governance.
Actual Utility
The platform currently operates as intended, hosting various dApps and supporting smart contract functionality. The EOS Network Foundation (ENF) actively develops the ecosystem, with recent initiatives including EVM compatibility, allowing Ethereum-based applications to run on EOS.
Token Distribution and Governance
The initial distribution of EOS tokens occurred through a year-long ICO. The project has evolved to be community-governed, with the ENF taking a leading role in development. Block producers are elected by token holders to validate transactions and maintain the network.
Revenue Model and Technology
EOS operates on a resource allocation model rather than transaction fees. Users stake EOS tokens to access network resources. The consensus mechanism is based on DPoS, which is compliant with Islamic principles as it represents actual work and network security.
Crypto Impact
To assign a comfort level investing in EOS 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 EOS.
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.