The Enterprise blockchain platform Concorduim has announced that its Testnet 4 is here, and it is expected to be the last testnet before the launch of the mainnet in Q2 2021. Testnet 4 will reward its users with 15 million GTU tokens in exchange for helping the company to troubleshoot and stress test the platform.
Testnet 3 was a successful venture for both Concorduim and its 3,000 users – who were rewarded with 10 million GTU for their efforts. The tokens for both Testnet 3 and Testnet 4 will be distributed at the launch of the mainnet, which is forecast to happen later this year.
Torben Pryds Pedersen, the CTO at Concordium, commented,
“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.”
Concordium Testnet 4 is Here
Anyone who is interested in participating in Concordium’s Testnet 4 can learn more about the platform by visiting the company’s GitHub. The participants will complete actions on the testnet like running a node, deploying smart contracts, and failure testing the system by using bulk actions to attempt and overload the system.
Concordium is working to launch a blockchain that addresses the needs of both its users and the increasing level of regulations for any financial product. The company has created a unique system that stores user KYC data on-chain in an encrypted format, although it can be decrypted if law enforcement officials need access to the data.
In this way, Concordium is crafting a blockchain that serves the purposes of users that need assurances about data security, while opening up the use of the…