When people think about crypto assets, monetary features and technological capabilities often come to mind first. After all, Bitcoin was created to challenge traditional monetary systems. However, the crypto space has since evolved into an industry centered around community participation and decentralization.
While monetary and technical aspects remain essential, the ideas of community and inclusiveness have become equally important. Core DAO (CORE) is a prime example of this shift, offering a blockchain platform that values both innovation and collective governance.
What is Core DAO (CORE)?
Core DAO (CORE) is a Layer 1 blockchain project designed to serve as a foundational infrastructure for Web3. It is fully compatible with the Ethereum Virtual Machine (EVM), allowing it to support Ethereum-based smart contracts and decentralized applications (dApps). The network is secured through a unique consensus mechanism known as Satoshi Plus, which combines Bitcoin's proof-of-work mining hash with Delegated Proof of Stake (DPoS).
Launched in January 2023, Core DAO is a relatively young but ambitious project. It operates under a decentralized autonomous organization (DAO) structure, giving the community control over the development and evolution of the Satoshi Plus consensus.
How Does Core DAO Function?
Core DAO operates using the Satoshi Plus consensus, which validates transactions and maintains network security. The blockchain is engineered to incorporate the best features of Bitcoin and Ethereum—prioritizing security, decentralization, and scalability.
Thanks to its EVM compatibility, developers can seamlessly deploy and manage smart contracts and dApps. By building valuable applications, developers contribute to the ecosystem and, in turn, earn rewards.
Introducing CORE: The Native Token
CORE is the native cryptocurrency of the Core DAO ecosystem. It was introduced in early February 2023 with a maximum supply capped at 2.1 billion tokens. The circulating supply represents only 7.07% of the total supply, with approximately 148.38 million tokens available on the market as of mid-2023.
Use Cases of the CORE Token
CORE serves multiple purposes within the ecosystem:
- It acts as a governance token, allowing holders to participate in decision-making.
- Users can stake CORE to help secure the network and earn rewards.
- The token powers smart contracts and decentralized applications built on Core DAO.
- Like other cryptocurrencies, CORE can be traded or held as an investment.
Token Distribution of Core DAO (CORE)
The allocation of CORE tokens is structured as follows:
- 39.995% for node mining.
- 25.029% distributed to Core users.
- 15% allocated to contributors.
- 10% reserved for future use.
- 0.476% dedicated to relayer rewards.
- 9.5% allocated to the project treasury.
The Vision Behind Core DAO
While Core DAO offers tangible technological utilities, its primary goal is fostering human connections. By incentivizing developers to create high-quality dApps, the platform encourages more users to join and interact. This approach aims to build a strong, engaged community that understands and promotes the values of Web3.
Ultimately, Core DAO strives to be more than just a blockchain—it aims to be a community-driven project that empowers users and promotes broader adoption of decentralized technologies.
Frequently Asked Questions
What is the Satoshi Plus consensus?
Satoshi Plus is a hybrid consensus mechanism that combines Bitcoin’s proof-of-work security with the efficiency of Delegated Proof of Stake. This unique blend aims to offer high security, decentralization, and scalability.
How can I acquire CORE tokens?
CORE tokens are available on various cryptocurrency exchanges. You can trade other cryptocurrencies for CORE or participate in ecosystem activities like staking or contributing to the network.
What makes Core DAO different from other blockchains?
Core DAO emphasizes community governance, EVM compatibility, and a hybrid consensus model. Its focus on user incentives and decentralized development sets it apart from many other Layer 1 platforms. 👉 Explore more strategies for engaging with decentralized networks
Is Core DAO fully decentralized?
Yes, Core DAO is designed to be fully decentralized and is governed by its community through a DAO structure. Decisions about upgrades and changes are made collectively by token holders.
Can I develop dApps on Core DAO?
Absolutely. Thanks to its EVM compatibility, developers can port existing Ethereum dApps or build new ones on Core DAO with minimal changes.
What is the long-term goal of Core DAO?
The long-term vision is to create a robust, community-owned blockchain that supports the growth of Web3 through innovation, inclusivity, and sustainable tokenomics.