GlobalBoost
Crypto Overview
Overview
GlobalBoost (BSTY) is a cryptocurrency that was launched in 2014. It is a proof-of-work blockchain that uses the Yescrypt algorithm for mining. The project aims to provide a decentralized digital currency for everyday transactions.
Purpose and Utility
The intended purpose of GlobalBoost is to serve as a medium of exchange and store of value. The project emphasizes fast transactions and energy-efficient mining through its Yescrypt algorithm.
Business Model Analysis
The business model is straightforward - it operates as a decentralized cryptocurrency without any lending, staking, or interest-bearing components. The project does not facilitate or promote any haram activities.
Real-World Adoption
Current adoption appears limited, with most activity centered around trading on smaller cryptocurrency exchanges. However, limited adoption does not impact halal classification.
Development Activity
The project maintains basic development activity to ensure network functionality, though updates are infrequent. The core technology remains stable and functional for its intended use case.
Token Distribution
GlobalBoost features a fair launch model where all tokens are obtained through mining, with no pre-mine or founder allocation. This structure eliminates concerns about founder enrichment schemes.
Crypto Impact
To assign a comfort level investing in GlobalBoost 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 GlobalBoost.
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.