Launched in 2018, Concordium is a public-permissionless Layer 1 blockchain that embeds encrypted ID into every on-chain transaction, enabling identification at a protocol level. It is designed to balance privacy with accountability through its ID layer. From the onset, the team behind the project, which includes leadership from Volvo, IKEA, Credit Suisse, and more, stated that its goal was to make it easy for current and future businesses to easily integrate the potential of blockchain technology, with an emphasis on regulatory compliance.
While providing real-world identity may seem like a turnoff for many crypto enthusiasts, the company claims to provide users with full privacy while using zero-knowledge proofs.
To date, the company has raised 52M EUR, partnering with Geely, a global automaker and co-owner of Volvo Cars, Volvo AB, and Daimler.
Behind the scenes, Concordium has a native cryptocurrency called CCD. It is used for paying transaction fees, staking, rewards for node operators, and as a collateral/settlement medium for Concordium’s DeFi landscape.
## Who Are the Founders of Concordium?
Concordium was founded by Lars Seier Christensen, the co-founder and former CEO of the online trading and investment platform Saxo Bank. Christensen, who is the current Chairman of the Foundation Board was able to grow Saxo to 1,500 employees in 150 locations. However, the company has a team of more than 30 experts, making up the Foundation Board, the Science Team, the Technical Team, an Operations Team, and an Advisory Board.
Other notable mentions on the team include Professor Ueli Maurer, a senior academic at the Swiss Federal Institute of Technology in Zurich and renowned for his work in cryptographic innovations. Professor Ivan Damgård, the co-inventor of the Merkle-Damgård cryptographic hash is also part of the team.
Other key C-level team members include Group CPO/CTO Kåre Kjelstrøm (entrepreneur, Silicon Valley startup veteran from multiple ventures including Uber).
## What Makes Concordium Unique?
Concordium’s most unique selling point comes from its built-in identity layer. The ID layer employs trusted identity issuers to provide users with their self-sovereign identity. However, the network tries to maintain a balance between user privacy and the need for identification if a legitimate legal issue arises.
On the other end of identification, on-chain transactions are carried out privately using cryptographic means to prove that all participants have been verified without disclosing their identity.
Asides from its privacy and identity features, Concordium provides a powerful execution environment for smart contracts and digital financial primitives suited for enterprise users. Some of these features include high throughput with fast finality, low, fixed transaction costs, and a regulated DeFi Lab.
Speaking of transactions, the blockchain network uses a dual consensus mechanism. At one end, operators (known as bakers) process transactions using a Nakamoto-style Proof-of-Stake mechanism, and at the other end, a Byzantine fault tolerant (BFT) agreement among a set of specialized bakers (known as finalizers) is used to finalize transactions.
Any user that stakes more than 14,000 CCD can become a baker, while finalizers need to stake at least 0.1% of all CCDs.
How to Buy CCD on an Exchange
Step 1: Choose a Reputable Exchange Platform
Select a trusted platform from among many available options for purchasing CCD. Some reputable platforms include HTX、Bybit、Bitget, and others.
Step 2: Register an Account
Here, we'll register an account on the Bybit(registration link) trading platform. You may need to provide personal information such as phone number and email to complete the registration process.
Step 3: Complete Identity Verification
For security purposes, some platforms may require you to complete identity verification. Follow the platform's instructions to provide necessary identity information (such as country/ID number) and undergo facial recognition. Once your identity is confirmed, you'll receive notification.
Step 4: Link Bank or Payment Method
Link your bank account or other payment methods to the exchange platform for making payments when purchasing CCD.
Step 5: Purchase CCD
Find the option to buy coins on the exchange platform, choose the C2C coin purchase process, and then input the quantity of CCD you wish to purchase. Typically, you'll choose to buy USDT first and select your preferred payment method. Simply place the order, make the payment to the seller, and you'll receive the cryptocurrency. Once payment is complete, you can use your exchange assets to buy CCD.
Step 6: Store Your CCD
After purchasing, you can choose to store your CCD in the digital wallet provided by the exchange platform or transfer it to a hardware wallet under your control.
Step 7: Security Reminder
To protect your exchange account and CCD assets, be sure to use a strong password and enable two-factor authentication.
CCD Price:Concordium blockchain prides itself on its strong internal team of scientists with PhDs from world-class universities. Their primary focuses are cryptography and formal verification, regularly publishing research papers in leading international venues.The price fluctuates daily, you can go to the exchange: Bybitto check the price.
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