WhiteCoin
Crypto Overview
Project Overview
WhiteCoin (XWC) is a proof-of-stake cryptocurrency launched in 2014. It positions itself as a digital payment system focused on privacy, speed, and energy efficiency.
Intended Utility
The intended utility of WhiteCoin is to serve as a medium of exchange and store of value, with an emphasis on fast transactions and low fees. The project implements a Proof-of-Stake consensus mechanism, which is more energy-efficient than Proof-of-Work systems.
Actual Utility Assessment
Current usage appears to be primarily focused on trading on cryptocurrency exchanges. The project has experienced periods of low development activity, though the blockchain remains functional for its basic payment purposes. Transaction volumes suggest limited real-world adoption for payments.
Token Distribution and Governance
While detailed information about the initial token distribution is not readily available in recent sources, the project operates on a decentralized governance model where stake holders can participate in network validation through staking.
Technical Implementation
The project utilizes a Proof-of-Stake consensus mechanism that allows token holders to participate in network validation. This mechanism is compliant with Islamic principles as it represents actual ownership and participation in network operations.
Revenue Model
The primary revenue mechanisms are through transaction fees and staking rewards, which represent legitimate compensation for network participation and security provision rather than interest-based returns.
Crypto Impact
To assign a comfort level investing in WhiteCoin 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 WhiteCoin.
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.