# Summary of Concordium Transparency Report #2

By [Peter Tran](https://paragraph.com/@peter-tran) · 2024-03-10

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> Synthesizing information from the Concordium ecosystem from July 1, 2023, to the end of February 2024. This is a 26-page transparent report in PDF format, including accompanying appendices, publicly released to the Concordium community and stakeholders.
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Here is a brief overview of what I found intriguing for everyone to grasp concisely:

**1\. Growth Overview:**

As known, Concordium was launched in 2018 and its mainnet in early 2021 went through market downturns in 2022 and early 2023. With relentless efforts from the Concordium team and active support from the community and partners, Concordium has witnessed a resurgence in late 2023 and early 2024.

**Specifically:**

*   _Transaction speed increased by about 80% due to the new consensus mechanism "ConcordiumBFT."_
    
*   _Transaction fees reduced by 99% since January 2024._
    
*   _Increased transaction volume, surpassing 200,000 transactions per day._
    
*   _Technological development and community activities have been intensified and expanded._
    
    **2\. Tokenomics Highlights:**
    
*   _As of February 18, 2024, Concordium Blockchain has about 200 active nodes, maintaining around 150 nodes despite fluctuations._
    
*   _Concordium Foundation currently operates 9 nodes for CCD staking._
    
*   _Current CCD growth rate: 8%_
    
*   _Average block time in the last 30 days: 2.2 seconds_
    
*   _Average settlement time in the last 30 days: 4.3 seconds_
    
*   _Number of delegates: 1,860_
    
*   _Number of verifiers: 176_
    
*   _Average daily transactions in the last 30 days: 118,996_
    
*   _Total transactions since inception: 22.2 million_
    
*   _Average daily blocks in the last 30 days: 40,151_
    
*   _New CCD minted since inception: 2.88 billion_
    
*   _CCD rewards distributed as block rewards to verifiers since inception: 2.55 billion_
    
    **3\. Community:**
    
*   _Governance voting feature deployment in June 2024._
    
*   _Expansion of the core Concordium development team and hiring of a high-level Community Development Director to oversee the developer relations area._
    
*   _Community engagement activities and active pursuit of new partnerships to expand the ecosystem._
    
    **4\. Identity & Wallet Applications:**
    
*   _Support for Denmark's MitID implemented in Q4 2023._
    
*   _Web3ID version 3.0 built on W3C._
    
*   _CompanyID UI upgrade and verification process optimization for businesses._
    
*   _Release of a new version of the CryptoX wallet, browser SDK, and Android wallet in January 2024, with the iOS version to follow in March 2024._
    
    **5\. DeFi Ecosystem:**
    
*   _KYC-as-a-Service: With Web3ID, service providers can provide KYC-verified information in the form of verifiable credentials that users can keep in their wallets._
    
*   _Bridge: Boosty Labs, a Web3 technology company, is integrating Concordium into its cross-chain bridge service Tricorn._
    
*   _Oracle: Umbrella launched its oracle on the Concordium network in Q4 2023._
    

The above is a summary of some key points you might find interesting. In conclusion, I have confidence in the development of the ecosystem and the project. I could write more, but for those who need a more detailed section, I advise you to read it here: [Link to the full report](https://assets.website-files.com/64f060f3fc95f9d2081781db/65e1b5a7c3774f79169313fe_Concordium%20Transparency%20Report%202024.pdf).

![](https://storage.googleapis.com/papyrus_images/1d648f26cfa177b153481d627f78d90fec5efbf42a7926ff01c6dca63142c6dd.png)

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*Originally published on [Peter Tran](https://paragraph.com/@peter-tran/summary-of-concordium-transparency-report-2)*