Core (CORE) is an L1 blockchain designed to work seamlessly with the Ethereum Virtual Machine (EVM), allowing it to support Ethereum's smart contracts and decentralized applications (dApps). The network is underpinned by the "Satoshi Plus" consensus mechanism, which combines delegated Bitcoin mining hash power with delegated Proof-of-Stake (DPoS) to enhance security. CORE, the network's native token, plays a crucial role in its operations.
The team behind Core aims to establish an infrastructure that becomes central to web 3.0, introducing groundbreaking solutions to overcome the blockchain trilemma.
Core's mainnet went live in January 2023. The blockchain's governance is managed by a decentralized autonomous organization (DAO), with Core DAO taking charge of developing the Satoshi Plus ecosystem.
Who Are the Founders of Core?
As shared by the official Core accounts, CoreDAO is made up of a global team of contributors who are united by a common vision and enthusiasm for advancing web 3.0. These idealists are instrumental in the growth of the Satoshi Plus ecosystem through blockchain innovation. While the project boasts a strong base of supporters, with around 1.6 million followers on Twitter and over 74,000 on Telegram, the identities of its founders, contributors, and developers remain undisclosed to the public.
What Makes Core (CORE) Unique?
The Satoshi Plus consensus mechanism is central to the Core network, utilizing a blend of Bitcoin's Proof-of-Work (PoW) and Ethereum's Delegated Proof-of-Stake (DPoS). This hybrid model empowers the network to balance decentralization and scalability, effectively addressing the blockchain trilemma's challenges.
Core stands out for its EVM chain capabilities, facilitating the creation and management of smart contracts and dApps. Developers who build dApps on the Core blockchain and enhance the ecosystem's value are rewarded with S-Prize tokens, often referred to as Satoshi Prize tokens.
Decentralization is a priority, with the protocol governed by a decentralized autonomous organization (DAO) that oversees transaction fees, governance parameters, proposes system upgrades, and votes on development initiatives.
How Many Core (CORE) Coins Are There in Circulation?
CORE serves as the utility and governance token for the Core network, with a capped supply of 2.1 billion coins. This limit aligns with the scarcity principle central to Bitcoin's value proposition.
The developers plan to implement a token burn mechanism similar to Ethereum's "Ultra Sound Money," where a portion of rewards and fees—determined by the Core DAO—will be burned to control supply.
CORE's total supply is allocated across six segments: 39.995% goes to node mining; 25.029% to Core users; 15% to contributors; 10% is held in reserves; 0.476% is reserved for relayer rewards; and 9.5% is allocated to the treasury.
How Is the Core Network Secured?
The Core blockchain employs the Satoshi Plus consensus method, which merges Bitcoin's Proof-of-Work (PoW) with a modified Delegated Proof-of-Stake (DPoS) model to secure the network.
Additionally, its protocols are reviewed by CertiK, a company specializing in web 3.0 security, blockchain protocol audits, and crypto security assessments.
Where Can You Buy Core (CORE)?
Core (CORE) tokens are available on a variety of cryptocurrency exchanges, including Huobi, OKX, Gate.io, Bybit, Poloniex, among others. These platforms offer trading options with USDT pairs for buying and selling CORE tokens.
Interested in monitoring CORE prices in real-time? You can download the CMC mobile app for live updates.
