In the ever-evolving world of cryptocurrency, a unique digital currency is making waves by adhering to strict ethical and religious principles. Islamic Coin (ISLM) is not just another cryptocurrency; it's a groundbreaking digital currency designed to meet the financial needs of one of the largest global communities,the Muslim population.
With a mission to deliver lasting,powerful impact for the Muslim community worldwide, Islamic Coin is founded on the principles of Shariah compliance. Shariah law is a religious law that guides many aspects of Muslims' lives,including their financial interactions. One of the core principles of Islamic financial law is the prohibition of paying or charging interest,which distinguishes it from conventional finance.
Islamic Coin,being the first digital currency to provide economic and social benefits, supports innovation and ensures sustainable, long-term growth through a dedicated Evergreen DAO. The Evergreen DAO functions as a crypto endowment,focusing on long-term sustainability and community impact.
What sets Islamic Coin apart from traditional financial systems is its alignment with Islamic principles.Unlike conventional banking systems, Islamic Coin does not operate on the basis of interest,which is considered haram (forbidden) in Islamic finance. Instead, it relies on a unique minting process. Validators and stakers of the network contribute work and investment to mint new coins at a predetermined rate,ensuring that the currency's value remains stable.
One of the standout features of Islamic Coin is its commitment to philanthropy. Every time new Islamic Coin is minted, 10% of the issued amount is deposited into the Evergreen DAO, which is used for further investment into Islamic projects or donated to Islamic charities. This approach brings direct economic value to the Muslim community and aligns with the principles of charity (zakat) in Islam.
The Shariah Oracle,another integral component of the Islamic Coin ecosystem, ensures that all smart contracts that interact with the HAQQ Wallet are Shariah-compliant. This feature is essential for Muslims and ESG-driven investors who prioritize ethical investing practices.The Shariah Oracle involves a two-level approval process: community approval and Shariah board approval,ensuring transparency and security.
Islamic Coin is built on the HAQQ Network,a blockchain platform based on Cosmos Software Development Kit,offering high throughput with instant finality. This means that HAQQ is not limited to the realm of finance; it can support various applications, including social platforms,games and educational projects.
As the world approaches mass adoption of cryptocurrencies, Islamic Coin is emerging as a unique and transformative force in the crypto industry. It stands as a testament to how a digital currency can be both sustainable and powerful,all while adhering to a set of ethical and religious principles that resonate with a global community.
In an age where innovation and inclusivity are paramount,Islamic Coin paves the way for the integration of Islamic finance principles into the digital economy. It exemplifies the harmonious coexistence of blockchain technology and religious beliefs,opening new possibilities for the Muslim community and beyond. Islamic Coin is not just a digital currency; it's a bridge between modern finance and timeless traditions.
For more information,visit official website of Islamic Coin ๐ https://islamiccoin.net
