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About Concordium
Key Points
- Launched in 2018, Concordium is a public-permissionless Layer 1 blockchain.
- Embeds encrypted ID into every on-chain transaction, enabling identification at a protocol level.
- Raised 52M EUR, partnering with Geely, Volvo, and Daimler.
- Native cryptocurrency is CCD, used for transaction fees, staking, rewards, and collateral.
- Founded by Lars Seier Christensen, co-founder and former CEO of Saxo Bank.
- Unique selling point is its built-in identity layer, balancing user privacy and identification.
- Provides a powerful execution environment for smart contracts and digital financial primitives.</
About Concordium Blockchain Network
Introducing Concordium (CCD): A Revolutionary Blockchain Network
Launched in 2018, Concordium is a pioneering public-permissionless Layer 1 blockchain that seamlessly integrates encrypted IDs into every on-chain transaction, thereby facilitating identification at a protocol level. This innovative architecture strikes a delicate balance between privacy and accountability through its ID layer. From its inception, the team behind the project, boasting leadership from esteemed organizations such as Volvo, IKEA, Credit Suisse, and more, has been driven by a singular goal: to simplify the integration of blockchain technology for current and future businesses, with a strong emphasis on regulatory compliance.
While divulging real-world identities may appear to be a deterrent for many cryptocurrency enthusiasts, the company asserts that it can furnish users with uncompromising privacy, leveraging the power of zero-knowledge proofs.
To date, the company has secured a substantial investment of 52 million euros, fostering a strategic partnership with Geely, a renowned global automaker and co-owner of esteemed brands such as Volvo Cars, Volvo AB, and Daimler.
Behind the scenes, Concordium boasts a native cryptocurrency, CCD, which serves as a multifaceted utility token. It facilitates the payment of transaction fees, enables staking, rewards node operators, and functions as a collateral and settlement medium within Concordium’s decentralized finance (DeFi) ecosystem.
The Visionaries Behind Concordium: Meet the Founders
Concordium was founded by Lars Seier Christensen, the visionary co-founder and former CEO of the esteemed online trading and investment platform Saxo Bank. As the current Chairman of the Foundation Board, Christensen successfully spearheaded Saxo’s growth to a workforce of 1,500 employees across 150 locations. Today, Concordium boasts a diverse team of over 30 experts, comprising the Foundation Board, the Science Team, the Technical Team, the Operations Team, and the Advisory Board.
Noteworthy additions to the team include Professor Ueli Maurer, a distinguished academic at the Swiss Federal Institute of Technology in Zurich, celebrated for his groundbreaking contributions to cryptographic innovations. Furthermore, Professor Ivan Damgård, the esteemed co-inventor of the Merkle-Damgård cryptographic hash, also lends his expertise to the team.
Notable among the C-level team members is Group CPO/CTO Kåre Kjelstrøm, a seasoned entrepreneur and Silicon Valley startup veteran, boasting an impressive track record of multiple ventures, including a stint at Uber.
Unveiling the Unparalleled Features of Concordium
Concordium’s most distinctive value proposition stems from its innovative built-in identity layer. This ID layer leverages trusted identity issuers to empower users with self-sovereign identities, while striking a delicate balance between preserving user privacy and facilitating identification in the event of legitimate legal concerns.
At the opposite end of the identification spectrum, on-chain transactions are executed privately, leveraging cryptographic methods to verify the authenticity of all participants without compromising their anonymity.
Beyond its privacy and identity features, Concordium offers a robust execution environment for smart contracts and digital financial primitives, tailored to meet the needs of enterprise users. Notable features include high throughput with rapid finality, low and fixed transaction costs, and a regulated DeFi Lab.
When it comes to transactions, the blockchain network employs a dual consensus mechanism. On one hand, operators, referred to as bakers, process transactions utilizing a Nakamoto-style Proof-of-Stake mechanism. On the other hand, a Byzantine fault-tolerant (BFT) agreement is reached among a set of specialized bakers, known as finalizers, to finalize transactions.
Notably, any user who stakes in excess of 14,000 CCD units is eligible to assume the role of a baker, whereas finalizers are required to stake a minimum of 0.1% of the total circulating CCD supply.
The Circulating Supply of CCD Tokens: A Key Metric
At the time of writing, the CCD token boasts a total supply of 11,568,824,325 tokens, with a circulating supply of 6,836,607,809 CCD tokens currently in circulation.
Where to Acquire Concordium: A Comprehensive Guide
Concordium (CCD) tokens are available for purchase on a variety of prominent exchanges, including Kucoin, Bitfinex, AscendEX, and MEXC.
New to the world of cryptocurrency? Discover the ins and outs of purchasing Bitcoin and other digital assets.
Associated Resources:
Delve into the intricacies of zero-knowledge proof on CMC Glossary.
Delve into our comprehensive guide to uncover the intricacies of privacy coins.
Delve into the world of decentralized automation: what are smart contracts, and how do they revolutionize the way we conduct transactions?
Delve into the world of cryptocurrencies with in-depth insights and expert knowledge on CoinMarketCap Alexandria.