The first Islamic crypto exchange Caizcoin undergoes a major overhaul to expand globally

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NEW DELHI: Caizcoin, the very first Islamic cryptocurrency exchange developed in Germany in 2018, recently revamped its official site in a major way, Bitcoin.com reported. They have included a new white paper and a light book to explain their ideas and vision more lucidly to the world. Whitepaper is a technical manual and sales brochure published prior to the cryptocurrency’s launch, while lightpaper is a personalized content platform for engaging experiences in real time. The word Caiz has its origin in the Arabic word Jaiz meaning legal or permitted. It is the very first platform to bring Islamic principles to DeFi. Caizcoin was designed not only for Muslim investors, but for anyone who wants to invest and benefit from it. It aims to merge the Islamic principles of focusing on ethical financing, community and customer welfare, with advanced blockchain technology into a relatively new concept. The Caizcoin platform is equipped with a 24/7 cash withdrawal feature that would allow facilitators to process their transactions easily and on time. Investors can freely negotiate and transact with it, as there is no holding period involved. Crypto wallets in addition to credit and debit cards can also be used to process withdrawals. To ensure maximum security and instant payments, they have developed a super secure wallet, to maintain the confidentiality of tokens and other details of holders’ transactions. The token is supported by the price of the metal, making it receptive to uncertain volatilities. Caizchain, Caizcoin’s native blockchain, houses high operating capacities. The Caizchain guarantees an incredible transaction rate of 3000 transactions / second and a distributed ledger to offer advanced consensus algorithms and a very intuitive application programming interface (API). Users can also use its configurable API to accept payments. Caizcoin envisioned an Islamic compliance blockchain that conforms to the virtues enshrined in texts and scriptures. To materialize their vision, Caizcoin took a deep dive into the existing crypto market, worked with academics, economists, and tech gurus around the world to design the technology. They have developed a state-of-the-art, free and fair Islamic blockchain that will help investors get the most out of their financial transactions, according to the Bitcoin.com report.

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