The FaaS ( Finality as a Service ) Blockchain Architecture

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Concordium is innovative in its approach to the fundamental challenges of all public blockchains from network security to smart contracts. But the two central innovations are the tight integration with regulatory requirements and the new 2-layer consensus protocol.

Concordium blockchain enables provably private transactions, while providing means to de-anonymise actors with suspicious behaviour. The latter being done under strict regulatory control.

Their new consensus protocol combines the traditional longest-chain-rule with a Byzantine Agreement Protocol. The former allows very fast addition of new blocks and the latter ensures that new blocks are quickly protected against roll-back.

This combination allows for obtaining a measure of the network conditions and based on this measure the blockchain can be dynamically optimised for security and performance.

They exploit the strong consensus mechanism to provide “Finality as a Service” supporting cross-chain interoperability and enabling sharding.