Islamic Coin, the world’s first Sharia-compliant cryptocurrency, is set to launch in May. The coin is designed to comply with Islamic financial principles, which prohibit the use of interest, gambling, and other activities that are considered to be speculative or risky.
Islamic Coin will be based on the Haqq blockchain
Islamic Coin will be based on the Haqq blockchain, which is a new blockchain protocol that is designed to be more energy-efficient and scalable than Bitcoin or Ethereum. The coin will be mined using a proof-of-stake consensus mechanism, which is more environmentally friendly than the proof-of-work consensus mechanism used by Bitcoin.
The launch of Islamic Coin is a major development for the cryptocurrency industry. It is the first time that a cryptocurrency has been designed specifically to comply with Islamic financial principles. This could make Islamic Coin a more attractive investment option for Muslims, who represent a significant portion of the global population.
The launch of Islamic Coin is also a sign of the growing maturity of the cryptocurrency industry. As the industry continues to grow, it is becoming increasingly important for cryptocurrencies to comply with the regulations and requirements of different jurisdictions. Islamic Coin is a step in the right direction, and it could help to pave the way for the wider adoption of cryptocurrencies by Muslims and other investors.
Here are some additional details about Islamic Coin:
- Islamic Coin will be launched in May 2023.
- The coin will be based on the Haqq blockchain.
- The coin will be mined using a proof-of-stake consensus mechanism.
- Islamic Coin is the first Sharia-compliant cryptocurrency.
- Islamic Coin could make cryptocurrencies more attractive to Muslims.
- The launch of Islamic Coin is a sign of the growing maturity of the cryptocurrency industry.