Starcoin
Crypto Overview
Overview
Starcoin is a smart contract platform and cryptocurrency that aims to build a decentralized financial system. It implements a layered architecture and uses Move programming language, originally developed by Facebook/Meta for the Libra/Diem project.
Purpose and Utility
The primary purpose of Starcoin is to serve as a platform for decentralized applications with a focus on digital assets and smart contracts. The STC token is used for network governance, transaction fees, and staking.
Platform Analysis
The project maintains an active GitHub repository with regular commits and updates. The Move language implementation offers enhanced security features for digital asset management. The platform supports smart contract deployment and execution.
Current Usage
While the platform has functioning technology and active development, current usage appears limited primarily to trading on exchanges. The ecosystem includes some DeFi applications and NFT projects, though adoption remains modest.
Token Distribution
Information about the exact token distribution is limited in public sources. The project implements a Proof of Work consensus mechanism where new tokens are minted through mining.
Crypto Impact
To assign a comfort level investing in Starcoin 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 Starcoin.
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.