Validity
Crypto Overview
Overview
Validity (VAL) is a cryptocurrency that emerged from the Radium blockchain project, focusing on providing a platform for decentralized identity validation and proof-of-presence systems. The project aims to create a secure and efficient way to validate digital identities and verify physical presence through blockchain technology.
Intended Utility
The primary purpose of Validity is to facilitate identity verification and presence validation in a decentralized manner. The VAL token serves as the native currency for the network's operations and governance. Users can stake VAL tokens to participate in network validation and earn rewards for maintaining network security.
Actual Usage and Development
Current usage appears limited, with relatively low trading volume and market activity. The development activity on the project's GitHub repository shows minimal recent updates, raising concerns about ongoing development and maintenance of the platform.
Token Distribution and Governance
Information about token distribution and founder allocation is not readily available through public sources, which raises transparency concerns. The project's governance structure and decision-making processes are not well documented.
Technical Infrastructure
The platform operates on a Proof-of-Stake consensus mechanism, which is compliant with Islamic principles as it involves actual asset ownership and network participation. The staking mechanism does not involve traditional interest-bearing elements that would conflict with Islamic finance principles.
Crypto Impact
To assign a comfort level investing in Validity 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 Validity.
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.