New BitShares
Crypto Overview
Overview
New BitShares (NBS) is a fork of the original BitShares blockchain platform, launched in 2020. It aims to provide a decentralized financial platform for trading digital assets and creating smart coins.
Purpose and Utility
The primary purpose of NBS is to serve as the native token of the New BitShares ecosystem, enabling decentralized exchange functionality, governance voting, and network fee payments. Users can create and trade various digital assets on the platform.
Business Model Analysis
The platform's core functionality revolves around legitimate asset trading and exchange services. The business model appears transparent and focuses on providing decentralized trading infrastructure. No inherent interest-bearing mechanisms or impermissible activities are built into the core protocol.
Development and Adoption
The project maintains active development, though with relatively modest adoption compared to larger platforms. The ecosystem includes decentralized exchange functionality and smart coin creation capabilities.
Token Distribution
NBS tokens were distributed through a combination of airdrop to original BitShares holders and community distribution. The token distribution appears relatively decentralized, with no concerning concentration among founders.
Technology Assessment
The platform utilizes legitimate blockchain technology for asset trading and exchange. The core technology does not involve inherent lending or interest-bearing mechanisms.
Crypto Impact
To assign a comfort level investing in New BitShares 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 New BitShares.
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.