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Traditional blockchains’ radical level of transparency has never boded well with the way financial institutions operate. In the institutional finance world, the privacy of transactions is of paramount importance, and a typical public blockchain — which lays bare all the data recorded on the ledger in front of any network member — isn’t the optimal model for corporate entities doing finance with each other.
Canton Network (CC) has taken on the task of bridging the worlds of decentralized finance (DeFi) and traditional finance (TradFi) by offering institutional users the decentralization benefits of a public blockchain, but with configurable privacy that’s been proven to be in use with major banks and market infrastructure. Instead of adopting the all-or-nothing approach to on-chain data visibility, Canton lets institutions and app builders program privacy settings, allowing users of the network to transact with verifiability and confidentiality simultaneously.
Canton’s operational model is certainly getting a nod from the business world, with giants like Deloitte, BNP Paribas, Goldman Sachs and Nasdaq already among its users.
Key Takeaways:
Canton is a public permissionless blockchain with configurable privacy controls designed for institutional finance use cases.
At the architectural level, Canton represents a network of networks, with interoperable subnets and applications run by third-party providers.
Canton’s native utility token, Canton Coin (CC), is used primarily for transaction fee payments, as well as to continuously reward network users, builders and validators for the utility they bring to the network. Applications also use the token to incentivize use and drive fee-based revenue.