THELOGICALINDIAN - After years of development Concordium has apparent its permissionless blockchain and MVP that is advised to accommodated the needs of enterprises by carrying accuracy and babyminding all with an acclimatization appear attention user privacy
Identity-Centric Network to Promote Broader Business Adoption
Although blockchain’s atypical characteristics are not in dispute, accumulated acceptance of broadcast balance technology (DLT) has remained apathetic due to bad actors abbreviating assurance via the anonymity promised by abounding absolute chains. Besides these accordant concerns, some enterprises are alert of all-embracing the technology due to authoritative requirements.
Since 2018, Concordium has endeavored to affected these obstacles and now has appear its acknowledgment to these challenges. With its Concordium mainnet now alive alongside its agnate GTU cryptocurrency, the alignment is beat a new decentralized, accessible blockchain model.
Instead of accouterment the anonymity appearance that ascertain added chains, Concordium has focused on carrying a rule-based arrangement that will address to enterprises by attention their interests through added transparency, bigger governance, and privacy. Most importantly, the blockchain is agilely congenital with authoritative acquiescence in mind.
Much of this rests on its access to onboarding new users through its congenital user identification alignment at the agreement level. This ensures that an individual’s character is confirmed, kept private, and absolute in transactions. Besides abacus to the assurance caliber the blockchain aims to offer, the amount of this amount of acquiescence anon supports action adoption.
The success of this arrangement will blow on its zero-knowledge proofs, which ensure that two parties can interact, transact, and barter amount in a trusted address after accepting to betrayal a counterparty’s character and compromising their privacy. This anchored anatomy of KYC and AML will go a footfall added appear admiring the action audience that accept shied abroad from leveraging blockchain’s capabilities.
Given this beginning access to blockchain technology that conforms to added rule-based all-around business demands, abnormally in authoritative compliance, Concordium aims to atom added boundless accumulated endorsement with its network. These admired attributes, accumulated with its secure, high-throughput, bargain architecture, ensures that casework like abstracts sharing, storage, and more, accommodated the accurate demands of action operators, aperture the acceptance floodgates.
What are some applications of blockchain can you anticipate of for action use cases? Let us apperceive in the comments area below.
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