Comparative analysis of blockchain consensus algorithms from Shariah perspective / Tasneem Darwish … [et al.]

Darwish, Tasneem and Abu Bakar, Kamalrulnizam and Matsuda, Gen and Aliyu, Ahmed and Abdullah, Abdul Hanan and Ismail, Abdul Samad and Yusof, Ahmad Fadhil and Raja Mohd. Radzi, Raja Zahilah and Mohamad, Mohd Murtadha and Idris, Mohd Yazid and Ismail, Zuhaimy and Che Yaacob, Ahmad (2020) Comparative analysis of blockchain consensus algorithms from Shariah perspective / Tasneem Darwish … [et al.]. Journal of Contempory Islamic Studies, 6 (1). pp. 1-21. ISSN ISSN 2289-9634 e-ISSN 0128-0902

Official URL: https://jcis.uitm.edu.my

Abstract

Blockchain provides a distributed digital ledger platform for not only cryptocurrencies but also many other distributed applications. Blockchain platforms workflow and performance are controlled by the used consensus algorithms. Although many studies evaluated cryptocurrency from the Shariah perspective, they focused only on the Cryptocurrency concept and did not consider the underlying blockchain technology. However, designing a Shariah compliant application on top of a non Shariah compliant platform does not fulfil the requirements of Shariah. Therefore, it is necessary to use a Shariah compliant blockchain platform in order to produce Shariah compliant blockchain applications. To support the production of Shariah compliant blockchain applications, this study provides a comparative analysis of the most used consensus algorithms in blockchain platforms. In particular, the considered consensus algorithms are evaluated from a Shariah perspective. In conclusion, based on the conducted evaluation some of the widely used blockchain platforms (e.g. Bitcoin and Ethereum) are found to be not compliant with the Shariah rules due to using a consensus algorithm that is not Shariah compliant.

Metadata

Item Type: Article
Creators:
Creators
Email / ID Num.
Darwish, Tasneem
tasneem83darwish@gmail.com
Abu Bakar, Kamalrulnizam
UNSPECIFIED
Matsuda, Gen
g_matsuda@okwave.co.jp
Aliyu, Ahmed
UNSPECIFIED
Abdullah, Abdul Hanan
UNSPECIFIED
Ismail, Abdul Samad
UNSPECIFIED
Yusof, Ahmad Fadhil
UNSPECIFIED
Raja Mohd. Radzi, Raja Zahilah
UNSPECIFIED
Mohamad, Mohd Murtadha
UNSPECIFIED
Idris, Mohd Yazid
UNSPECIFIED
Ismail, Zuhaimy
UNSPECIFIED
Che Yaacob, Ahmad
UNSPECIFIED
Subjects: Q Science > QA Mathematics > Instruments and machines > Electronic Computers. Computer Science > Algorithms
Divisions: Universiti Teknologi MARA, Shah Alam > Academy of Contemporary Islamic Studies (ACIS)
Journal or Publication Title: Journal of Contempory Islamic Studies
UiTM Journal Collections: UiTM Journal > Journal of Contempory Islamic Studies (JCIS)
ISSN: ISSN 2289-9634 e-ISSN 0128-0902
Volume: 6
Number: 1
Page Range: pp. 1-21
Keywords: Blockchain, Shariah Compliant, Consensus, Cryptocurrency
Date: 2020
URI: https://ir.uitm.edu.my/id/eprint/42962
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