Concordium, a privacy-based blockchain, has just finalized its pilot network. On the other hand, with $ 15 million in funding, we expect to see the Concordium launch soon.
to the the report The Daily Huddle, Concordium in February, announced a joint venture between itself and Geely Group. Geely Group is a technology company active in the field of automobiles, which is in the list of the top 500 companies of Fortune (Fortune 500). The partnership focuses on building blockchain-based services across the Concordium enterprise chain.
Concordium has just completed Experimental Network 4. More than 2,300 independent identities have created more than 7,000 accounts on the network. There are also more than 1,000 active and 800 bakers on the network, and more than 3,600 wallets have been downloaded. This successful test network led to the introduction of the Concordium smart contract based on the Rust programming language. A select group of community members take part in testing the network’s pressure. Testing on smart contracts includes gambling, crowdfunding, timekeeping and voting.
Lone Fonss Schroder, CEO of Concordium, said:
The interest of the community, from right-wing developers to venture capitalists, system integrators, family businesses, digital currency service providers and real people, has been astounding. Concordium has been in high demand by decentralized finance projects seeking to build on the Blockchain with protocol-level identities.
Concordium has prepared its blockchain technology for widespread use. The company wants to bring predictable, fast and secure transactions to customers by using business identity protection at the protocol level and by using ZKP and fixed transaction costs. The core of the scientific team consists of renowned researchers such as Dr. Torben Pedersen, creator of the Pedersen Commitment Project, and Professor Ivan Damgard, the father of the Merkel-Demgard structure.
Concordium is looking to launch its core network in the second quarter of 2021. The goal of this project is to solve the old problem of the Blockchain for the company. This is done using a new method and with a software stack based on advanced identity and privacy technologies that provide speed, security and mutual transparency.
The Concordium team plans to announce its main network roadmap in the coming days.
The Concordium Blockchain is the next generation decentralized blockchain and the first blockchain to introduce an internal ID at the protocol level. Key Features Concordium solves classical blockchain deficiencies with protocol-level identity management and zero-proof method. These two are used to replace anonymity with complete secrecy. The technology supports encrypted payments with software that maintains future regulatory compliance requirements for blockchain transactions. Concordium employs a team of dedicated cryptographers and business professionals to advance their vision. The protocols are proven by similar studies and are being developed in collaboration with the Concordium Aarhus Research Center of China, Aarhus University and other top universities in the world, including ETH Zurich, a pioneer in computer science, and the Indian Institute of Science.