Popular layer-one blockchain protocol, Concordium has partnered with Stir network, a Singapore based Japanese specialist team. The protocol announced the development in a Twitter post on Tuesday. As revealed, the aim of the partnership is to help accelerate the expansion of the Concordium ecosystem in Asia.
Notably, Stir network intends to partake as a staking provider. In addition, it will also offer staking solutions to holders of Concordium native token, CCD within the Q1 of 2023. As revealed, Stir network came into limelight under Ether Security Inc in 2016. As of now, it has over eight supported coins. Remarkably, the protocol offers node policy services and customized staking solutions for exchanges. Further, it seeks to pave way for the staking industry to thrive in the coming years.
Meanwhile, Concordium is the only layer-1 blockchain with an in-built self-sovereign ID framework. Its identity solution possesses the potential to protect investors, service providers, and users who will benefit from the partnership and trade with CCD.
Notably, Stir network CEO, Shohei Kamon reacted to the partnership. According to him, the importance of KYC and DID are re-recognized as the crypto industry grows up. Kamon further that the Web3 ID solution enforced by Concordium is compliance driven and also delivers the most important user protection.
Further, the CEO highlighted the terms of the partnership agreement. According to Kamon, Stir network is expected to technically support the expansion of the Concordium ecosystem with its staking solution. In addition, Kamon noted the staking protocol plans to also support developers to build applications using Concordium.
Concordium sees Asia as an important market – Exec
Concordium’s Head of commercials, Torben Kaaber also reacted to the partnership. According to him, Asia remains an important market for the layer -1 block chain firm. He further that Concordium has seen good adoption on the back of its ID solution and its solid science-backed blockchain.
Worth noting, the layer-1 blockchain has been consistent in expanding its ecosystem. Recently, it integrated Beepo App, a decentralized social media network. As revealed, the integration allows users of Beepo to seamlessly pay for charges on the platform with CCD. Meanwhile, Beepo offers trading of virtual and digital items among users. With this, CCD token will serve as a means of settling trade balances among users.
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