Hi, I'm Garry, this is Olga and it's great to see you in another video on our OG Crypto channel!
Today we want to talk to you about the Concordium project, which is unlocking the potential
of blockchain technology for the future of business and the economy.
Concordium is a privacy-focused, public, and permissionless blockchain architecture that,
along with a range of other features, allows individuals, businesses, and public institutions
to use the blockchain technology in a trusted, scalable way and compliant with regulations.
If you are interested in this project, we will tell you more about it after the intro.
But before we get started, I remind you to leave a subscription to our OG Crypto channel.
This will keep you up to date with all the news in the world of cryptocurrencies, DeFi and NFT.
Let's get started!
The blockchain itself calls it regulatory compliance by design meaning, Concordium is
designed so that it can integrate with the current financial and business systems that
require knowledge of a user’s identity.
However, by developing unique protocol-level identity, Concordium helps application developers,
individuals, and companies build products that comply with local regulations while retaining
the benefits of a privacy-focused, public and permissionless blockchain.
However, compliance by design is not the only thing that makes this network stand out.
Let’s have a look at some of the other aspects of Concordium.
Concordium’s innovative identity layer allows for a compliance-centric balance between anonymity
and accountability.
That means a user’s identity is anonymous on-chain.
Still, the anonymity can be revoked, and their real-world identity revealed in response to
a valid request from a government authority via established legal channels.
Fast transactions at scale are also part of the Concordium Platform’s design; thus,
the TPS and the time it takes to finalize these transactions meet the needs of business
applications on a global scale.
Additionally, Concordium has developed the first provably secure and fast finality layer
to run on top of a Nakamoto-Style blockchain.
This means that a Concordium Platform transaction is confirmed and immutable in a short amount
of time.
This is a significant benefit over other NSC blockchains, which presume block finality
only after many consecutive blocks have been generated.
Concordium is built for high-volume corporate applications with demanding uptime requirements.
The platform’s two-layer consensus design assures that it remains available and secure
even under the most extreme circumstances.
When malicious parties hold less than 50% of all stake, blocks are correctly added to
the longest chain.
Concordium gains considerable speedups and efficiency under typical conditions when less
than 33% of all stake is controlled by malicious parties.
In the future, it will also be possible to build private networks on top of Concodium
for internal communication.
From here it is worth mentioning the Governance and Native Token which has the symbol $CCD.
Concordium’s native token is called $CCD and it is the fuel of the Concordium Network.
The Concordium Platform’s payment token, $CCD, serves as a means of payment and incentivization,
ensuring that network participants are paid for their activities.
$CCD can be used for a variety of things, including payment for smart contract execution,
payment for user transactions, and so on.
If you are interested in purchasing a Concordium token, then you can use the AscendEX exchange,
where $CDD has been available for purchase for several days.
On AscendEX you will find several hundred other cryptocurrencies that you can easily
purchase.
You will find all the relevant links in the description of this video.
Concordium has a Delegated Proof-of-Stake consensus.
​​Delegated Proof of Stake allows stakers to earn rewards passively from their staked
cryptocurrency while maintaining some control over the blockchain.
This is accomplished by entrusting their assets to a node runner who takes part in the generation
of new blocks.
This delegation is chosen through a nomination process.
The delegated coin is not transferred to the node runner; nevertheless, the node runner
gains the ability to incorporate the delegated stake in its own stake.
The node runner’s incentives increase as a result, and a portion of the higher earnings
is returned to the delegating user.
That would be it for this episode, thank you so much for watching.
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See you in the next video, bye!