Concord (ONE) simply introduced that it upgraded its mainnet to help staking. Because of this, it will likely be the primary blockchain to efficiently mix proof-of-stake and sharding.
Concord (ONE), a blockchain-based platform that was constructed to unravel each scalability and decentralization at no expense of each other, has introduced the launch of its staking. Because of the mainnet improve, the community is boasting to be the primary of its variety to this point to deploy each sharding and proof-of-stake efficiently.
In keeping with the press launch, Concord will probably be working hand-in-hand with Binance, Huobi and likewise the BitMax crypto change. As well as, it will likely be utilizing skilled validators together with Blockdaemon, Stake.fish and Figment Networks.
Concord is promising its traders to earn between 45% and 15% yearly for the primary yr. The launch of the staking will each the ONE coin, which has been on the downtrend because it was launched in Might 2019.
Referring to CoinMarketCap market metrics on varied cryptocurrencies, ONE coin is ranked place 182 out of the doable ones available in the market. Basically as a result of it has attracted traders who’ve put round $14.5 million in market cap. Moreover, previously 24-hours, its quantity averaged on $8.6 million.
The concord coin approximate return on funding if bought on the time of launch is -0.52%, therefore solely making it a long-term funding for the holders. Moreover, its market value on the time of writing was hovering round $0.0031, with 4,596,807,869 cash in circulating provide and 12.6 billion ONE cash in complete provide.
Way forward for Concord Staking
Concord gives one of many quickest transaction speeds compared to most altcoins, whereby it settles a transaction in Eight secs. Moreover, its transaction charges are very minimal, at round $0.000001, which is manner cheaper than that of Bitcoin.
Its blockchain has been capable of navigate by challenges of low throughput, latency points and scalability points by utilizing sharding expertise. Sharding is an idea, whereby a protracted blockchain comprises shards which are horizontal of the database, therefore storing information in a separate server. It’s a expertise that strives to unfold the load and make the database extra environment friendly.
With Proof-of-Stake in use with the Harmony blockchain, there are questions of the wealthy solely getting richer. Nevertheless, the corporate has provide you with a mechanism known as ‘Efficient Proof of Stake’ to counter the problem.
On this mechanism, Concord caps the rewards of huge stakers and boosts the rewards of smaller stakers. With that mountain solved, the corporate will now deal with the ONE market adoption.
“Now that we’re geared up with a battle-tested base layer, we’ll shift gears to pursue adoption with the identical continuous execution that enabled us to launch the primary sharded PoS blockchain. Our scalability, velocity and price will allow use instances and person experiences that no different blockchain earlier than us might,” stated Concord CEO Stephen Tse.
The challenge’s roadmap for this yr covers such points as transitioning to neighborhood governance, discount of the settlement instances to underneath Eight seconds, and work on the adoption inside some promising areas like cross-border finance, auditable privateness and branded digital collectibles.
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