Ways to Participate in the CCD Economy

There are a number of transactions that allow users and other entities to interact with the economy and each other within Concordium. The specific roles within Concordium are:

Users can be individuals, companies, and other identifiable legal entities that create and control accounts within Concordium. They can participate in the following ways:

Creating an account in Concordium

In account opening and account updating transactions, there will be no payment from the user to the identity provider, with the costs covered by the Concordium Foundation to stimulate the ecosystem.

1. Users, through their associated account, can initiate transactions, including simple transfers of CCD to other accounts, recording information on the blockchain, or transferring other tokens that exist on Concordium.
2. Users can receive CCD in their account when their address has been specified as the recipient in the transaction.
3. Users can perform shielded transfers. The possibility of adding another type of anonymous transfer to the blockchain is being investigated.

Staking

1. A user can stake part of the CCD in their user account. This is necessary if the user wants to operate as a validator.
2. The rewards associated with a user’s staking will be automatically transferred to the user’s account, and will either be automatically restaked or available in the account.
   

Delegation

1. In Concordium, a user can initiate a delegation transaction to delegate a certain amount of CCD to a staking pool or as passive delegation. Passive delegation occurs when a user delegates their funds to a pool that is not owned by any specific validator.
2. Similarly, a user can initiate a similar transaction to undelegate CCD, that is, withdraw CCD from the pool or from passive delegation.
3. The rewards associated with a user’s delegated CCD will be automatically transferred to the user’s account, and will either be automatically redelegated or available in the account.