5 Key Factors to Look for When Choosing a Blockchain

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Although Ethereum has solidified itself as one of the most popular blockchains on the DeFi market, its costly gas fees are a common criticism of the technology. As this fatal flaw remains one of the blockchain's most notorious pain points, fellow blockchains have been forced to pioneer alternatives that will incur lower fees. However, this is just one point of contention. There are many more.

Concordium, a new proof-of-stake (PoS) blockchain, prides itself on its stable, low-cost transaction fees, is dedicated to tackling this problem. Concordium's technology uses an ID framework to help individuals operate in a safer, more secure way and is leading the industry as the only blockchain that facilitates regulatory compliance by connecting the identity of persons and companies to every transaction while still preserving user privacy. In a nutshell, Concordium is a permissionless, decentralized PoS blockchain with double layered finalization protocol for fast finalization. Concordium intends to implementing a sharding design, to provide virtually unlimited transactions per second (TPS).

In addition to its low-cost structure, the blockchain platform offers its users complete cost transparency to encourage sustainable business models over time. It also uses innovative price stability mechanisms to ensure that transaction costs are fixed in fiat, despite the potential volatility in the price of the native token. Concordium turns away from the Proof of Work (PoW) consensus mechanism. PoW causes massive energy consumption contributing to the climate change crisis.

PoS approaches consume over 99% times less energy than PoW. The use