PUTinCoin
Crypto Overview
Overview
PUTinCoin (PUT) is a cryptocurrency launched in 2016 that positions itself as a peer-to-peer digital payment system. The project claims to focus on providing fast and secure transactions while maintaining decentralization.
Purpose and Utility
The stated purpose of PUTinCoin is to serve as a medium of exchange for everyday transactions. The project provides a basic wallet infrastructure and relies on a Proof of Work consensus mechanism.
Business Model Analysis
The business model appears straightforward - facilitating peer-to-peer transactions without any apparent involvement in prohibited activities like gambling, interest-based lending, or adult content. The project maintains basic blockchain infrastructure allowing users to send and receive tokens.
Real-World Adoption
Current adoption appears limited, with most activity concentrated on trading rather than real-world payment use cases. However, limited adoption does not impact halal classification as long as the underlying utility is permissible.
Development Activity
The project shows minimal but ongoing development activity, maintaining basic functionality and security updates. While not highly active, the project continues to operate its core infrastructure.
Token Distribution
The token distribution appears relatively decentralized through the mining process, without evidence of excessive founder allocation or concerning vesting schedules that would indicate a scheme to enrich founders.
Crypto Impact
To assign a comfort level investing in PUTinCoin 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 PUTinCoin.
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.