A “unifying Web3 platform” will onboard 1 billion customers by 2026, says Concord COO

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Li Jiang, chief working officer at Concord, believes {that a} bridge connecting all present blockchains is essential to onboard the primary 1 billion customers on Internet 3. 

“We expect that the long run is multichain and cross-chain, that it is best to be capable to transfer property very simply from one chain to a different, with good costs, with good charges and really quick,” he advised Cointelegraph in an unique interview.

Concord is a layer-1 blockchain protocol that goals at creating bridges with all main blockchains and turning into a “unifying Web3 platform” by 2026.

Jiang acknowledges that blockchain know-how isn’t mature sufficient to onboard such a lot of customers because of scalability limitations.

“In the present day, nobody can help a billion customers, no chain, no ecosystem,” he stated.

Concord is addressing these limitations by leveraging proof-of-stake and sharding know-how. That, as Jiang identified, permits Concord to realize excessive ranges of decentralization, scalability and safety concurrently.

“We’ve got two-second finality. Whereas that is nearly the quickest within the business, we did that with out buying and selling off on decentralization or safety.”

In response to Jiang, layer-1 options reminiscent of Concord will show simpler than layer-2 protocols constructed on Ethereum within the creation of a cross-chain web, because of their greater flexibility.

He additionally thinks that the way forward for Web3 isn’t a winner-takes-all sort of state of affairs: A number of layer-1 protocols with their very own distinctive worth propositions will be capable to coexist.

“The chains that may develop are those which are nice at cultivating their native tasks,” he identified.

Take a look at the complete interview on our YouTube channel and don’t neglect to subscribe!



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