Comment from user:
I was wondering what your guys thoughts are on crypto nodes from a Islamic aspect. Especially from ones that require you to use dedicated device or pc with a collateral of their coin. I’m talking about the likes of Flux node, etc.
I don’t think the collateral aspect is anything to worry about – at least not from an islamic perspective. It’s not like a loan and you’re receiving interest – it’s a dedication/entry fee to be a part of the project. But if the node rewards are based off the collateral you have…then that’s a little worrisome.
Hi,
I’m going to separate your question into two parts, firstly is a node halal and secondly is flux coin halal. I appreciate you may already know the first part but it may help others.
A node is a computer that is connected to the blockchain network and helps to validate and propagate transactions. There are different types of nodes, including full nodes, light nodes, and super nodes.
A full node is a computer that has a complete copy of the blockchain and controls operations with blocks before they are added to the chain. A full node plays an important role in the security and stability of the blockchain network, as it helps ensure that all transactions and blockchains follow the network’s rules.
Light nodes, also known as SPVs (simple payment verification), do not store a complete copy of the blockchain. Instead, they rely on full nodes to provide the information needed to confirm transactions. Lightweight nodes are useful for users who don’t have the resources to run a full node because they don’t use a lot of resources.
Supernodes are nodes with advanced features such as faster hardware and larger storage. These nodes are often used to support networks by handling large amounts of transactions and providing other services, such as acting as hubs to connect other nodes.
Nodes are essentially hardware required to make the technology function. There is nothing against Islam which such hardware or technology.
Coming to the second part, Flux has been screened for Shariah compliance by one of our sources and deemed as a halal coin.
Its important to maintain this degree of separation on every assessment as you could be using halal hardware to power a haram ecosystem or vice versa.
In this case it appears to be acceptable. Although I would put a small caveat in that the halal screening for Flux was only done by one source and we are yet to assess it.
Hope this helps iA