NALS (Ordinals)
Crypto Overview
Purpose and Utility
NALS is a BRC-20 token launched on the Bitcoin network through the Ordinals protocol. It aims to be one of the first fungible tokens on Bitcoin, leveraging the Ordinals protocol's ability to inscribe data on individual satoshis.
Business Model and Implementation
The token operates purely as a tradeable digital asset on Bitcoin, with no additional utility beyond being transferable between parties. While the project doesn't explicitly involve any haram activities like gambling or interest-based lending, it also doesn't present any specific utility beyond being a tradeable asset.
Real-World Adoption
The token has seen trading activity on various decentralized and centralized exchanges that support BRC-20 tokens. However, beyond trading, there is limited evidence of other practical applications or use cases being developed.
Development Activity
As a BRC-20 token, NALS relies on the underlying Bitcoin network and Ordinals protocol for its functionality. There isn't significant independent development activity specific to NALS beyond its initial creation and inscription.
Token Distribution
Information about the initial token distribution and current holder distribution is limited, as is typical with many BRC-20 tokens. The token operates on Bitcoin's transparent blockchain, allowing for tracking of movements but without clear designation of founder or team allocations.
Crypto Impact
To assign a comfort level investing in NALS (Ordinals) 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 NALS (Ordinals).
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.