We are excited to announce support for Concordium. Concordium stands out as a unique blockchain platform with several key features that distinguish it from other blockchain networks. It’s a Proof-of-Stake blockchain, notable for being the first to have identification protocols built into its system, aiming to align with regulatory requirements.
Key Features: Concordium
- Built-in Identification and Regulatory Compliance: Concordium is the world’s first science-based Proof-of-Stake blockchain with identification built into the protocol. This feature is designed to meet regulatory requirements, offering a compliant and secure blockchain solution.
- Layer 1 Customization and Smart Contracts: Concordium’s Layer 1 includes customizable blockchain assets (CCD), supporting secure transfers, immediate transaction settlements for multiparty transactions, and stateless smart contracts. These capabilities enable broad applications across various sectors such as IoT, supply chain finance, and Mobility-as-a-Service, and facilitate interoperability with other platforms and blockchains.
- Focus on Scalability, Security, Decentralization, and Regulation: Concordium aims to solve the ‘quadrilemma’ of balancing scalability, security, decentralization, and regulation. The goal is to harness blockchain technology for potentially trillions of compliant business transactions.
Additionally, the Concordium network has undergone a comprehensive security audit by Kudelski Security, addressing aspects like threat modeling, code review, and scenario-based assessments. The native token of Concordium is CCD, used for transaction fees, staking, rewarding node operators, and as a collateral/settlement medium. The CCD tokenomics are designed to be compliant, business-friendly, and free from the taint of illicit transactions, with a controlled minting process overseen by a governance committee.
“I’m thrilled about our support for Concordium and its unique approach as a Proof-of-Stake blockchain with built-in identification protocols. As a Layer One, Concordium’s focus on scalability, security, decentralization, and regulation, while also ensuring compliance, positions it uniquely in the market.” – Clayton Menzel, Director of Protocol Strategy at Figment
Concordium The permissionless science-backed blockchain uniquely balancing privacy with accountability through its world-leading private ID layer and Zero-knowledge proofs. High throughput, low transaction fees, pegged to the native EUROe stablecoin make Concordium the perfect choice for anyone building innovative or demanding Web3 businesses.For more information: concordium.com
Figment is the leading provider of staking infrastructure. Figment provides the complete staking solution for over 250 institutional clients, including asset managers, exchanges, wallets, foundations, custodians, and large token holders, to earn rewards on their digital assets. On Ethereum, Figment is the largest non-custodial staking provider with nearly 5% of staked ETH on Figment validators. Figment’s institutional staking service offers seamless point-and-click staking, portfolio reward tracking, API integrations, audited infrastructure, and slashing protection. This all leads Figment’s mission to support the adoption, growth, and long-term success of the digital asset ecosystem. To learn more about Figment, please visit figment.io.
The information herein is being provided to you for general informational purposes only. It is not intended to be, nor should it be relied upon as, legal, business, tax or investment advice. Figment undertakes no obligation to update the information herein.