Press Release:

Concordium announces Testnet release


06 April 2020

Concordium announces Testnet release

Zug, Switzerland – April 2, 2020  

Concordium, next-generation blockchain for enterprises and the first with user ID verification built-in at the protocol level, has released its Public Testnet and an updated White Paper.

Concordium’s CEO, Lone Fønss Schrøder, says: “After many months of intensive scientific research and development, we are happy to announce that our first Public Testnet has gone live and that we have issued our updated White Paper.” 

The main objective of Concordium Testnet is to identify any system and operational design imperfections by inviting participants to stress-test the network via various performance-based challenges. Participants will be able to bake new blocks on the chain and play a part in the novel finalization protocol. Besides, they can explore Concordium’s 1.0 web-based wallet, creating IDs, simulate transfers, and more. 

Lone Fønss Schrøder adds:  “We are looking forward to experimenting together with our community on this Testnet in preparation for our Mainnet launch later this year”.

Concordium’s Chairman and Founder, Lars Seier Christensen, says: “I’m pleased by this crucial milestone achievement, not least that Concordium during the COVID-19 crisis has been able to work entirely online and decentralized. I am very passionate about Concordium – and it is more relevant than ever because the crisis will make governmental authorities, financial institutions, and society at large re-evaluate how our financial, logistics, provenance, production and most other business systems work and how blockchain can support and improve it in the future.”  

Media Contact
Maria Rojas // Concordium
PR Manager
P: +45 42958375
E: mar@concordium.com

About Concordium

Concordium is the next-generation, enterprise-focused, decentralized blockchain and the first with ID built-in at the protocol level.

Concordium’s core features solve the shortcomings of classic blockchains by introducing built-in identity management at the protocol level and zero-knowledge proofs, which are used to replace anonymity with perfect privacy. This is in addition to regulatory compliance for payments made on the blockchain.

Concordium will, in the Mainnet release, also provide integrated high-quality user tools and extensive smart-contract layer features coded in a proprietary programming language. This provides cutting-edge functionality and allows for programmable decentralized smart contracts capable of transferring value and information in a secure, scalable fashion, features that are particularly relevant to enterprise applications. 

Concordium’s Mainnet release is due later in 2020.