Zynecoin
Crypto Overview
Project Overview
Zynecoin presents itself as a blockchain project focused on developing Africa's digital economy, based in Morocco. The project claims to use blockchain technology to create a decentralized ecosystem for African businesses and entrepreneurs.
Intended Utility Assessment
The stated purpose includes facilitating cross-border transactions in Africa, supporting local business development, and creating a blockchain infrastructure for African nations. The project also claims to be Sharia-compliant by design.
Actual Utility Analysis
Current research indicates extremely limited real-world adoption or usage of the Zynecoin network. The project's development activity appears minimal, with the last significant updates occurring in 2021. The token shows very low trading volume and is listed on only a few minor exchanges.
Founder and Token Distribution Analysis
Information about token distribution is notably opaque. The project's whitepaper lacks detailed tokenomics information, and there is limited transparency regarding founder holdings and vesting schedules. The team's visibility and communication with the community have been minimal since 2021.
Technical Implementation
The project claims to implement a hybrid consensus mechanism called 'Proof of Process,' but technical documentation is sparse and there is little evidence of active development or implementation of this technology.
Crypto Impact
To assign a comfort level investing in Zynecoin 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 Zynecoin.
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.