ZUG, SWITZERLAND / ACCESSWIRE / January 21, 2021 / Enterprise blockchain Concordium has announced the launch of its fourth testnet as preparations for its mainnet are finalized. Testnet 4 will enable participants to earn a total of 15 million GTU tokens while stress-testing the network and demonstrating its ability to perform in a range of environments.

Expected to form the final testnet before the mainnet goes live in Q2 2021, Testnet 4 is now operational. It marks the first time smart contracts have been deployed on the Concordium network. The tokenomic model that will be operational on the Concordium mainnet has also been introduced for the first time with Testnet 4.

Concordium CTO Torben Pryds Pedersen said: 'The introduction of a smart contract layer on Testnet 4 is the culmination of extensive research, development, and testing by the Concordium team and community. Since this is the last iteration of our software before mainnet launch, I invite smart contract developers and Rust developers in particular to participate. The feedback they provide will prove invaluable in ensuring that Concordium realizes its potential to become a best-in-class enterprise network with strong privacy guarantees.'

10 million GTU were awarded to more than 3,000 users who participated in Concordium's third testnet, with tokens set to be distributed upon mainnet launch. Due to the increased complexity of Testnet 4, participants will be rewarded with a share of up to 15 million GTU proportionally to their efforts.

To participate in Testnet 4, users must complete challenges and submit their solutions via Github. Available challenges include deploying smart contracts, running a node, contributing as a ‘baker,' creating identities and accounts using different environments, and stress testing the transaction layer by bulk sending different types of transactions i.e. public and encrypted ones.

For more information on the incentivized testnet and how to participate: www.github.com/Concordium/Testnet4-Challenges

About Concordium

Concordium is a next-generation Layer 1 blockchain and the first with ID built in at the protocol level. Concordium's core features solve the shortcomings of classic blockchains by introducing identity management at the protocol level and zero-knowledge proofs, which are used to replace anonymity with perfect privacy. Assuring regulatory compliance for payments made on the blockchain, Concordium employs a team of dedicated cryptographers and business experts to further its vision.

For more information please visit: https://concordium.com

For Media Contact:

Kim Bazak, MarketAcross
[email protected]

SOURCE: Concordium