With the fast rise of financial technology, new platforms are emerging to meet specific needs. One such platform is Sidra Chain, offering solutions for Shariah-compliant financial transactions.
What Is Sidra Chain?
Sidra Chain is a Proof-of-Work blockchain forked from Ethereum, designed for fast, transparent, and low-cost financial transactions under Shariah law. Since its mainnet launch in October 2023, Sidra Chain blends Islamic finance principles with cutting-edge blockchain technology, offering over 780 million Sidra Coins (SDA) in circulation.
Traditional Blockchain: The Baseline
Traditional blockchains like Bitcoin and Ethereum set the standard in decentralized technologies, offering security and transparency. However, they are generally not aligned with any ethical frameworks, which sets Sidra Chain apart as it emphasizes compliance with Islamic norms.
Key Differences: Sidra Chain vs. Traditional Platforms
- **Shariah Compliance at the Core**: Sidra Chain embeds Islamic financial principles into its framework, using instruments like sukuk and murabaha. - **Proof-of-Work with a Purpose**: Energy-efficient mining through a mobile app makes it more accessible. - **Sidra Ecosystem**: Includes Sidra Bank and SidraCoin, providing unique Shariah-compliant financial services. - **Global Expansion via SidraClubs**: Partnerships with local entities to ensure Shariah compliance. - **Practical Applications**: Focus on halal supply chains and cross-border payments.
Sidra Chain represents an innovative platform merging decentralized technologies with Shariah compliance, offering unique opportunities for Islamic markets and beyond.
