Sidra Chain is a decentralized network designed for Shariah financial transactions, grounded in Islamic finance principles and cutting-edge blockchain technology.
Original Concept of Sidra Chain
Sidra Chain is a Proof-of-Work (PoW) blockchain forked from Ethereum, aimed at facilitating fast, transparent, and low-cost financial transactions in compliance with Islamic law. Since its launch in 2022 and mainnet activation in October 2023, Sidra Chain has circulated over 780 million Sidra Coins (SDA) and released a mobile app in July 2024.
Key Features and Advantages
Sidra Chain stands out by embedding Islamic finance into its blockchain platform. It includes unique financial instruments, such as sukuk and murabaha, alongside accessible PoW mining via a mobile app. Sidra Chain’s focus on Shariah-compliant principles appeals to those seeking ethically-grounded solutions.
Technical Capabilities and Current Status
Sidra Chain's technical structure mirrors traditional blockchains, augmented by KYC integration. Its mobile app has over one million downloads, though users report glitches like login failures and KYC delays. While promising lower costs, its smaller scale limits its current reach compared to traditional giants.
Sidra Chain provides an alternative to traditional blockchains, focusing on fast, transparent, and Shariah-compliant transactions. While unmatched in scale and versatility by traditional blockchains, the niche it carves in Islamic financial markets could redefine finance.
