The largest migration in the history of the world is happening. Are you ready?
To migrate global business to blockchain, enterprises need a trusted, public chain, with all the benefits of a private one. They need to know that the user on the other end is a real, verified person. That person also needs to have their ID private. This can only be done with ID framework giving both parties what they need. This can be done with Concordium.
Concordium is the first non-permission based public blockchain that global businesses can trust and with ID at the protocol level.
Trust is the key to business. Users of Concordium can trust the identity of the people using the network. They can trust that their business case holds – through fixed transaction fees. They can trust that Concordium can deliver all the capacity and security that they need. And, finally, they can trust the names behind Concordium to deliver.
The presentations below will help you understand how Concordium will solve the issues that have prevented global adoption of Blockchain and how we will ensure that Concordium becomes a core technology for the coming decades.
About Concordium
Concordium is a blockchain with a smart contract layer for business with focus on low and stable transaction costs and ID-verified participation.
SHOULD CONCORDIUM MAKE AN OFFERING OF CCD TOKENS, THE CCD TOKENS WILL BE OFFERED FOR SALE ONLY OUTSIDE OF THE UNITED STATES TO NON‐U.S. PERSONS, PURSUANT AMONGST OTHER TO THE PROVISIONS OF REGULATION S OF THE U.S. SECURITIES ACT OF 1933, AS AMENDED. THE OFFER AND SALE OF THESE TOKENS WILL NOT BE REGISTERED UNDER THE SECURITIES ACT, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS.
Such offering would not available to investors from Bahamas; Belarus; Botswana; Burundi; Cambodia; Canada; Central African Republic; China; The Democratic Republic of Congo; Cuba; Côte d’Ivoire; Ethiopia; Ghana; Islamic Republic of Iran; Iraq; North Korea (Democratic People’s Republic of Korea); Lebanon; Libya; Mali; Myanmar; Nicaragua; Pakistan; Panama; Russia: Somalia; South Sudan; Sri Lanka; Sudan; Syrian Arab Republic; Trinidad and Tobago; Tunisia; United States; Venezuela, Bolivarian Republic of Yemen; Zimbabwe and Standard OFAC exclusions.
Concordium will in any event only sell tokens to U.S. persons who fall within the definition of “accredited investors” under Rule 501(a) under Regulation D of the US Securities Act of 1933 as Amended.
Concordium will require that any U.S. persons that acquire CCDs from Concordium in a Regulation D offering agree that they will hold any CCDs so acquired for at least one year.
Benefits
Fast and Secure finality at scale
- Transactions on the Concordium Platform are finalized and immutable without relying on the creation of subsequent blocks. Its unique two-layer consensus doesn’t compromise speed for security or vice versa.
Identity Layer
- Concordium’s innovative Identity Layer at the protocol level offers transactional privacy whilst allowing accountability to relevant regulators.
- Concordium supports encrypted transfers using a zero-knowledge proof mechanism that allows every party to validate transactions without knowing the transferred amount.
Increase capacity with sharding
- The throughput of the blockchain can be extended by any number of fast and optimized shards in parallel. The sharding Prococol also allow for Intershard signaling and Private shards.
Stable Transaction Fees
- Stable low transactions fees in Euro for predictable pricing, supporting business applications.
Energy-efficient delegated Proof of Stake
- Proof of Stake (PoS) mechanism ensure a green and resource-efficient operation along with enhanced security among participants. Users that hold CCD in their account can either run their own node or delegate their CCD to a baker. The more stake that participates, the harder it becomes for malicious parties to control a majority of that stake. Staking is maximized by delegation.
Tokenomics
Concordium also boasts one of the most interesting token distribution plans in the space given the focus on Developers and Enterprise partners with more than 70% being issued to people building on the ecosystem.
- 10 billion ccd at launch
- CCD growth rate targeted long term at 2% p.a.
- Newly minted CCD used for:
– incentives to bakers and finalizers
– 10% Platform Development Charge to the Concordium Foundation for ensuring further development and promotion of the blockchain - Transactions fees will be stable vs EUR, enabling businesses to plan operating costs
- Staking program incentifying CCD holdings will be implemented after launch
Token Distribution at Launch
This chart is interactive. You can hover over the chart for more details on the percentage of allocations.
Token release schedule of CCD in Genesis block
(all subject to potential change before release)
| CCD holder groups | Genesis block CCD-distribution January 2022, % | Genesis block CCD-distribution January 2022, CCDs** | Number of Genesis block CCDs release January 2022** | Release Schedule for locked-up tokens (# months after Jan. 2022) | |
|---|---|---|---|---|---|
|
|
|
|
|
First month of release period |
Last month of release period |
|
Seed sale |
25.00 |
2,500,000,000 |
0 |
6 |
18 |
|
Strategic Partners |
10.00 |
1,000,000,000 |
50,000,000 |
1 |
9 |
|
Team |
10.00 |
1,000,000,000 |
0 |
6 |
18 |
|
Concordium Foundation |
27.71 |
2,771,000,000 |
70,000,000 |
18 |
42 |
|
Testnet incentives |
0.25 |
25,000,000 |
0 |
1 |
1 |
|
Community and Developers endowment |
6.50 |
650,000,000 |
0 |
1 |
36 |
|
Private sales |
19.54 |
1,954,000,000 |
97,700,000 |
1 |
9 |
|
Potential Public Sale (incl. market making, etc.)* |
up to 1.00 |
100,000,000 |
0 |
1 |
1 |
|
Grand total |
100.00 |
10,000,000,000 |
217,700,000 |
- |
- |
*) Public Placement potentially without lock-up
**) Actual number of CCDs distributed will reflect the growth in total number of CCDs since the Genesis block (June 2021)
Percentage of CCDs released from lock-up based on total number of CCDs in existence on 5 January 2022
This chart is interactive. You can hover over the chart for more details on the percentage of genesis block released from lock-up
Research
- Peer-reviewed research conducted at COBRA is the backbone of the Concordium Platform and provides the technical basis for our innovative protocols and technologies
- The Concordium Foundation is a co-founder of COBRA, based at Aarhus University
Led by world leading cryptography and blockchain visionaries
Prof. Jesper Buus Nielsen
Center Leader, co-author of Secure Multiparty Computation and Secret Sharing.
Prof. Ivan Damgaard
Co-inventor of Merkle-Damgård construction, the principle behind all Blockchains.
Torben Pryds Pedersen, PhD
Inventor of the Pedersen Commitment – the foundation on zero-knowledge proof.
COBRA is a leading global research center for cryptography and blockchain technology with 12+ permanent and +10 yearly visiting researchers, and world-class cryptographers.
Mission
- Research innovative, energy-efficient and scalable blockchain technologies
- Contribute to the development of the Concordium Platform
Research areas
- New consensus algorithms, peer-to-peer network, multiparty computation, sharding, cryptographic techniques that support privacy-preserving identification, anonymous payments, ZK proofs, smart contracts, formal verification of cryptographic protocols and governance design models
Concordium Technology
On-chain encryption links blockchain account to off-chain identity
- Concordium’s public, permissionless blockchain enables businesses to manage counterparty risk and comply with regulations.
- A user’s identity, for example an individual or a business, is stored securely off-chain and remains private. It may be revealed to authorities following a court order via established legal channels.
- On the Concordium platform, users can decide to keep transactions private but with the ID accountability.
- Concordium 2-Layer Consensus Mechanism combines a Nakamoto-style Blockchain with an innovative Finalization (Finalization as a Service) for fast, secure and reliable transactions. Two Layer Consensus protocol ensures fast and secure finality even under adverse conditions.
- Concordium Sharding is built on our robust super effective Control Chain and fast Finalization layer, which ensure that in the Concordium Blockchain the supply of capacity always surpasses the demand and with very high reliability. As traffic increases, additional shards are automatically started. This prevents a lack of capacity becoming a determinant in transaction pricing.
- Concordium is developing a novel design for interoperability that allows the platform to send short authenticated messages to other chains and entities without the recipient being required to operate the Concordium Platform.
DeFi on Concordium
- Concordium´s smart contract environment will support all current DeFi activities and encrypted transactions provide security and privacy The Concordium Identity Object changes the way DeFi projects can be organized bringing counterparty risk ma management tools.
The Team
The Concordium Team combines extensive experience in building enterprise software with some of the leading scientists in cryptology. Under a Service Agreement with Concordium Foundation, Concordium AG develops and takes care of certain management functions on behalf of the Concordium Foundation, including fund raising and sale of CCD tokens in this Private Placement.
Lars Seier Christensen is the Founder of the Swiss non-profit Concordium Foundation. With over 30 years of experience across the banking and financial sector, Lars is a global pioneer in FX and derivatives trading, having co-founded the bank licensed online trading and investment platform Saxo Bank in 1992. The SaxoTrader is an online internet FX trading platform and was amongst the first wave of global commercial applications on the internet and is now one of the world’s most complete multi-asset trading platforms. He served as co-CEO of Saxo Bank for more than 20 years and grew the bank to serving customers in 170 countries. Lars is the founder of Seier Capital, a private equity and venture capital firm with investments in advanced technology, e-sport, leading sport teams and is the owner of the two world class 2 and 3 stars Michelin restaurants Geranium and Alchemist.
Concordium AG
CEO is Lone Fønss Schrøder, Fortune 500 Director with vast large cap CEO, Board and entrepreneurial experience. As Vice Chair of Volvo Cars and director of IKEA, Geely Sweden Holdings, Akastor and Aker Solutios and Co-founder of CashWorks (bank fintech) she is at the table and leading some of the worlds leading digital transformations. She served 22 years in CEO and management positions in A.P. Moller-Maersk, one of the world’s largest shipping companies and was founder of Maersk Procurement and Star Air and CEO of Wallenius Lines.
Lone holds a MS in Business Administration and Economics from Copenhagen Business School and a Master in Law (LL.M.) from the University of Copenhagen and Blockchain Technologies program from the MIT Sloan School of Management.
Kåre holds an MS in Computer Science from the University of Aarhus and joins Concordium from a hyper growth American pre-ipo startup where he managed the Core Infrastructure group. Kåre built the organization across 15 time zones, created high performance teams, and launched offices in Denmark and Lithuania. He was previously a manager at Uber running Core Storage building highly scalable distributed ledger and storage solutions, initially from Denmark and later on from Toronto, Canada; here he doubled as the Site Lead bringing all of Uber’s Toronto operations under the same roof. In an earlier capacity, Kåre was a cofounder of the consulting company Silverbullet where he helped drive the digital transformation of the Danish Public Sector with a focus on PKI secured service to service communication.
The architecture is led by the world leading cryptography and blockchain visionaries Prof. Jesper Buus Nielsen, Center Leader of the Concordium Blockchain Research Center (COBRA) at Aarhus University, co-author of Secure Multiparty Computation and Secret Sharing.
Professor Jesper Buus Nielsen is Concordium’s Chief Scientific Advisor, COBRA’s center leader, and a Professor of Computer Science at Aarhus University in Denmark. As the author of over 70 scientific publications, he is a leading expert on secure multiparty computation and has been the program committee chair for the Theory of Cryptography Conference and the Eurocrypt Conference. Most notably, he is co-author of Secure Multiparty Computation and Secret Sharing — widely regarded as a seminal work on privacy in distributed computing environments. He is a member of the Cryptography Group in the Department of Computer Science at Aarhus University. Jesper holds a PhD in Computer Science from Aarhus University.
Concordium’s ID protocol is led by Prof. Ivan Damgaard, co-inventor of Merkle-Damgård construction (building collision-resistant cryptographic hash functions from collision-resistant one-way compression functions). This construction is used in the design of many popular hash algorithms such as MD5, SHA-1 and SHA-2. A strong development team under the leadership of CTO Torben Pryds Petersen.
Professor Ivan Damgård is one of the world’s top-cited published researchers in cryptography. Within the blockchain community, Damgård is the co-inventor of the Merkle-Damgård-construction — the cryptographic hash function that all blockchains rely on in one form or another. He is a fellow of the International Association for Cryptologic Research (IACR) and, in 2015, he received the RSA Award for Excellence in Mathematics, which recognized Damgård as an innovator and for his lifetime achievements in the field of cryptography. Damgård received his PhD in Computer Science from Denmark’s Aarhus University, where he currently serves as a professor.
Jørgen Hauglund is the CFO of Concordium and has extensive experience in the fields of financial planning, accounting, budgeting, controlling, and reporting from positions in a number of large Danish corporations, including Saxo Bank, ISS, Sydbank, A.P. Moller–Maersk, and the East Asiatic Company. He has worked for several years as a consultant focusing on financial management, shareholder value concepts, and corporate documentation/compliance. In addition, Jørgen has held senior management positions in investment companies focusing on shipping and real estate transactions. He holds an MS in Economics and an Executive MBA from the Copenhagen Business School, Denmark.
Community
The growing Concordium Community is based on 3 pillars:
- Node runners and Bakers
- Developers
- Users
At Concordium, we deploy an organic and dynamic strategy to keep building our community which will support the network and maintain its security.
The Concordium Foundation has allocated the following funds to sustain the community building:
Developers Grants and Endowment 3.5% of the total supply at mainnet emission.
Community Grants and Endowment 3% of the total supply at mainnet emission.
Incentivized Testnets 0.25% of the total supply at mainnet emission.
And here is a non-exhaustive list of actions that the Concordium Foundation aims to conduct from time to time with its growing community:
Node Runners and Bakers
- Incentivized Testnet 3 – October 2020
- Incentivized Testnet 4 – February 2021
- Post Mainnet Testing Contest
- Launch of the Delegation Program
Developers
- Webinars and AMAs
- Bug Bounties
- Hackathons
- Workshops with Core Team
- Participative contribution to the code
- Blockchain with Encode
- Rust community
Users
- Content Contest
- Ambassador Program
- Webinars and AMAs
- Listing Events
- Local Community Events and Actions
The Concordium Community was created in February 2020, counts 19.000+ members across our different platforms.
Roadmap
2022 Q4
Blockchain
Node efficiency and scaling upgrade
gRPC V2
Ethereum token bridge
Smart contract upgradability
Soulbound and fractionalised NFTs
Developer Tools
WebSDK
JSON-RPC API
Local development environment
Low-Code NFT Minting Framework
Example Smart Contracts for Token Standards
Node infrastructure platform
VSCode Extension
Identity
Automated ID backup
Self Sovereign ID proofs
Onboarding with National eID
Wallets
Recovery phrase for account and ID backup
WalletConnect
CNS domain name support
Chrome browser extension wallet
Browser wallet, baking/delegation
CIS2 token support including NFTs
ID Proofs in mobile and browser wallets
Browser extension wallet for Brave, Edge and Opera
Block Explorer - CCDScan
CIS-2 tokens support on accounts and transactions
Smart Contract Portal
Network Dashboard
2023 Q1
Blockchain
Hotstuff consensus upgrade
Node admin dashboard
Database efficiency upgrade
Smart Contract Framework
Developer Tools
Smart contract developer environment, verification & testing
Smart contract compilation tool to create JS Client
Zero-knowledge proof, cloud storage
dApp Zero-Knowledge proofs of ID
Oracle integrations
IDE plugins for nodes
Browser based smart contract development environment
Identity
ID proof language upgrade
Web3 ID framework
Enterprise ID update
Expand eID support in Europe
Wallets
Support for multiple verifiable credentials
Hardware wallet in browser wallet
Browser extension wallet for Safari
Governance
Decentralisation governance framework
Future
Blockchain
Sharding, finality-as-a-service
Additional smart contract language
Additional key management features
State proofs to improve node queries and restart
New consensus protocol – configurable consensus
Data stores – blockchain data indexer for real-time queries
Smart contract reference implementations
Reward mechanism update
Randomness for smart contracts
Developer Tools