An enterprise-grade blockchain platform that uses a first-of-its-kind digital identity layer to power the first wave of regulatory-compliant dApps? It's ConcordiumNet 🔥 Exactly how does it work? Let CoinMarketCap explain 👇
tolerant agreement among a set of specialized bakers is used for transaction finalization.
Concordium is a non-permissioned and fully decentralized platform, which is why anybody can join the network as a node operator, helping to participate in on-chain consensus by validating blocks. These users are rewarded for their contribution in the form of transaction fees and a share of the CCD token emission .
The ID mechanism will support large-scale adoption from DeFi and other business verticals and ensures regulators can selectively identify users without breaking overall transactional privacy — a process that would require a court order or some law enforcement interaction to initiate. Thanks to its WASM-based virtual machine, Concordium allows developers to build applications in any language that can compile to Web Assembly, includingConcordium has been operating its mainnet since June 2021, bringing with it a 2-layer consensus- and finalization system, encrypted transactions, and Rust-based smart contracts.
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