Myria (MYRIA)

Scaling and Performance

Myria is an Ethereum Layer 2 scaling solution designed to improve the speed and reduce the cost of transactions, especially for NFTs and blockchain gaming. It offers instant trade confirmation and zero gas fees for minting and trading NFTs, while keeping user assets secure by anchoring to Ethereum’s mainnet.

Gaming and NFTs

Myria focuses on blockchain gaming and NFT applications. It provides a platform where developers can build games and NFT projects with fast, low-cost transactions. Users can buy, sell, and trade NFTs easily on the Myria marketplace, and developers can authenticate players and connect them with their digital assets.

Developer Tools and Customization

Myria offers developer-friendly tools like a tokenization rules engine and a domain-specific language (DSL) that allow customization of digital assets without complexity. Developers can connect via REST API to create and manage token projects on the Myria Layer 2 network.

Wallet and Marketplace

Myria provides a seamless in-browser wallet for users to control their digital assets fully. The platform also hosts a dedicated Web3 marketplace where users can display, sell, and trade NFT collections using MYRIA tokens as an alternative to ETH.

MYRIA Token Utility

The MYRIA token is used for governance, staking, in-game utilities, and paying protocol fees. It is also integrated into the Myria NFT marketplace, allowing users and developers to buy, trade, and receive royalties in MYRIA tokens, expanding its use within the ecosystem.

Advantages

• Myria is an Ethereum Layer 2 scaling solution designed to improve scalability for NFTs and blockchain gaming, offering instant trade confirmation and zero gas fees for minting and trading NFTs.
• It leverages StarkWare’s technology to maintain security while providing fast and cheap transactions.
• The platform provides a suite of developer tools including APIs, SDKs, and a domain-specific language, making it easier for developers to create and manage blockchain projects without deep smart contract knowledge.
• Myria supports a growing Web3 gaming ecosystem with in-game utility and benefits for token holders.
• The protocol offers zero gas fees and free NFT minting, which is attractive for users and developers.
• It has a responsive and expert team committed to smooth operations and innovation.
• Myria has a strong community and is listed on multiple popular exchanges with active trading pairs.

Disadvantages

• Myria has experienced significant short-term price fluctuations and underperformed compared to the broader crypto market and similar smart contract platforms recently.
• The project is relatively young and still under development, so features and functionalities may change.
• Some technical risks exist, such as a low data availability committee threshold and potential contract vulnerabilities that could affect funds.
• The price of node licenses may increase as more are sold, which could affect costs for node operators.
• Market factors like regulatory changes and the influence of large holders ("whales") can cause price volatility.
• The ecosystem’s success depends on continued development and adoption, which carries uncertainty.

Founders of Myria

The founders of Myria are Brendan Duhamel, Ivan Fortunov, Moonfrog, Andrew Silber, and James Ferguson. Brendan Duhamel is a cryptocurrency specialist, Andrew Silber is the CTO with a long background in gaming technology, and Ivan Fortunov and Moonfrog are also co-founders involved in the project. James Ferguson is mentioned as a co-founder who helped establish Myria in 2022.

Investors in Myria

Myria has 13 institutional investors. Some of the known investors include Metavest Capital, Tiny, NGC, Kosmos Ventures, Coinvestor Ventures, Lavender Capital, Simurg Labs, Artemis Capital, and Aussie Capital. The project raised funding in a seed round, with Metavest Capital being a notable participant.

Shariah Compliance of Myria

Myria's halal status has been analyzed by expert Shariah advisory firms like Sharlife, which provide comprehensive Islamic screening for cryptocurrencies. However, the specific halal or haram ruling for Myria is not publicly disclosed without subscription access.

General Islamic Finance Principles for Crypto

Halal cryptocurrencies must avoid interest (riba), gambling (maysir), and involvement in haram activities like alcohol or pork. They should have transparent transactions and avoid excessive uncertainty (gharar).

Available Opinions on Cryptocurrency Halal Status

Many Islamic scholars consider cryptocurrencies halal if they comply with Islamic finance principles. Some scholars, including Mufti Muhammad Abu-Bakar and Ziyaad Mahomed, have stated that crypto can be halal.

Conclusion

No definitive public ruling is available for Myria specifically, but given the need for expert Shariah screening and the absence of explicit confirmation, the halal status of Myria cannot be confirmed as a simple yes or no from the available data.