Concordium, a blockchain centered on privacy, has announced it has completed its MVP testnet. In addition, the project has also reported it has finalized a private sale of tokens aimed at raising funds to finance the development of the project.
In particular, the firm has raised $15M in additional funding for its Public and permissionless compliance-ready privacy-centric blockchain.
Remember that in late February it was known Concordium had entered into a joint venture cooperation with Geely Group, a Fortune 500 company and automotive technology firm. As part of the association, both companies will work together on the development of blockchain-based services on Concordium’s enterprise-focused chain.
Testnet 4 has recently been completed by Concordium with the following milestones:
- Issuance of more than 2,300 self-sovereign identities.
- Creation of over 7,000 accounts.
- More than 1,000 active nodes.
- 800 bakers.
- Over 3,600 wallet downloads.
After the successful testnet, Concordium has released its smart contracts functionality based on RustLang, in which a selected group of community members are taking part in stress-testing the network. The test deployments for smart contracts included, among other things, gaming, crowdfunding, time-stamping and voting.
Concordium, whose mainnet launch should happen any time in Q2, aims to solve the long-standing blockchain-for-enterprise problem with the help of a unique software stack based on peer-reviewed and demonstrated advanced identity and privacy technologies providing speed, security and counterpart transparency.
It must be noted that Concordium plans to reveal its post-mainnet roadmap in the coming days.