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Side Protocol

SIDE
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Shariah Analysis

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Last Screening: Q1 2024

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About Side Protocol

Side Protocol is a fully Bitcoin-compatible PoS Layer 1 blockchain designed as an extension layer of Bitcoin, making it the first dPoS Layer 1 blockchain that is fully compatible with Bitcoin. Built to shape the future of Bitcoin finance, Side Protocol empowers developers to create secure and high-performance decentralized applications (dApps) within a Bitcoin-centric ecosystem. By providing a seamless platform for innovative development, Side Protocol aims to onboard billions of users globally and position Bitcoin (BTC) as the definitive global currency. Its ecosystem introduces several key components, including Side Hub, a centralized platform for Bitcoin applications and decentralized finance (DeFi) tools that eliminate the need for bridging and reduce custody risks; Side Chain, a fully Bitcoin-compatible appchain; Side Station, an explorer for Bitcoin and Side Chain; Side Wallet, a self-custody wallet tailored for Bitcoin and Side Chain assets; and Side Bridge, a TSS-based bridge for seamless transfers of BTC, Runes, and other Bitcoin-native assets. With its efficient and secure decentralized trading market and the upcoming launch of Side Finance, Side Protocol sets the stage for a revolutionary Bitcoin-based financial ecosystem.

Consensus Mechanism

Proof of Stake