SwiftCash
Crypto Overview
Overview
SwiftCash is a peer-to-peer cryptocurrency launched in 2018 that implements a hybrid Proof of Work (PoW) and Proof of Stake (PoS) consensus mechanism. It aims to provide fast, secure, and low-cost transactions while offering staking rewards to participants who help secure the network.
Utility Assessment
The primary intended use case for SwiftCash is as a medium of exchange and store of value. The project implements advanced features like masternodes for network security and SwiftNodes for decentralized governance. The coin can be used for everyday transactions and supports atomic swaps with other cryptocurrencies.
Business Model Analysis
The core business model revolves around providing a decentralized payment system with privacy features. The project generates no direct revenue but relies on network effects and community participation through staking and mining. There is no lending protocol or interest-bearing mechanism built into the core protocol.
Development Activity
The project maintains an active GitHub repository with regular updates to the core protocol. The development team remains anonymous but continues to provide maintenance and improvements to the network.
Token Distribution
SwiftCash had no ICO or premine, suggesting a fair launch model. The current supply is generated through mining and staking rewards, with no single entity controlling a significant portion of the supply.
Crypto Impact
To assign a comfort level investing in SwiftCash 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 SwiftCash.
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.