Qitmeer Network
Crypto Overview
Overview
Qitmeer Network is a public blockchain platform that aims to establish a fair and open digital economy system, particularly focused on serving Muslim communities worldwide. It utilizes a unique Proof-of-Work consensus mechanism called MeerDAG and positions itself as a Shariah-compliant blockchain infrastructure.
Purpose and Utility
The primary purpose of Qitmeer is to provide a blockchain infrastructure that adheres to Islamic financial principles while enabling various decentralized applications. The MEER token serves as the native currency of the network, used for transaction fees, network security through mining, and governance.
Business Model Analysis
The project's business model appears to align with Islamic principles, focusing on transparent and fair economic practices. The network explicitly prohibits interest-based activities and gambling applications from being built on its infrastructure.
Development and Adoption
The project maintains active development on GitHub, with regular updates to its core protocol. While adoption remains limited compared to major blockchain platforms, there is evidence of ongoing technical development and community engagement.
Token Distribution and Governance
MEER tokens are primarily distributed through mining, following a fair launch model without pre-mining or ICO. This approach aligns with principles of fairness and reduces the risk of founder enrichment schemes.
Technical Infrastructure
The MeerDAG consensus mechanism provides a halal method of securing the network through Proof-of-Work mining, where computational work directly contributes to network security and validators receive rewards for their service.
Crypto Impact
To assign a comfort level investing in Qitmeer Network 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 Qitmeer Network.
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.