The community is buzzing about Core DAO listing a series of big-name exchanges on February 8. So what is Core DAO? What’s so special about the project that it gets so much attention? Let’s find out with the Allinstation team!
If nothing changes, Core DAO will be listed on exchanges such as OKX, MEXC, Gate.io, Bybit,…
What is Core DAO?
Current Layer 1 networks such as Ethereum, Polygon, Solana,… cannot balance 3 factors: “Scalable, Secure, Decentralized”. If you focus and any of the 2 of the 3 factors above, there are shortcomings in the rest.
Core was born as a solution to overcome and balance the above three factors by taking advantage of current capital applications in the market.
The project introduces to the community the Satoshi Plus consensus mechanism, which integrates the advantages of two popular mechanisms, “proof-of-work” and “proof-of-stake,” to help maintain decentralization without sacrificing performance in the process.
Core is an upgraded version based on the Geth codebase. The development team used improvements made by the BSC team to add power and make transactions cheaper through the hard fork process.
What is special about the Satoshi Plus consensus mechanism?
Satoshi Plus combines two proof-of-work (PoW) and delegated proof-of-stake (DPoS) mechanisms in order to improve the weaknesses of each type by leveraging their respective strengths.
DPoS is a popular upgrade to Proof of Stake (PoS), in which network users vote and elect representatives to confirm the next block.
PoW mechanisms require miners to solve each block’s encrypted algorithm, whereas PoS mechanisms require validators to hold and stake tokens in order to earn transaction fees. Thus, the greater the number of tokens held, the greater the control over the token network.
CORE is the first blockchain to develop its own consensus mechanism.
The project team anticipates that CORE will achieve the network effects required to establish a successful currency and service as a help desk for Web3 adoption on a broader scale.
CORE DAO also asserts that the new blockchain is a complete Turing blockchain that is compatible with EVMs created using the Bitcoin mining model. In addition, $CORE’s purpose is to tokenize the DAO Core Token community, which includes numerous useful features.
Outstanding features of Core DAO
Due to Core DAO’s recent mainnet launch, there are numerous grants available for developers and the collaborative community to explore CORE. This topic is covered in greater detail at coredao.org.
Satoshi Mining App
As you can see, the features listed for Satoshi Mining App are only a small portion of the many exceptional features that the Core DAO community has developed to expand their ecosystem. It increases the profitability of $CORE tokens and confirms that the active community will assist the Core DAO token in reaching the new ATH.
Staking
CORE Staking is a form of active support for the mission of CORE DAO through Staking into Core.
CORE holders can profit from staking via the Delegated Proof of Stake protocol. By enabling this owner, users distribute validators’ rewards and profits.
Validators select the amount to be paid to the staking and are incentivized to ensure that it is profitable. Essentially, the more CORE tokens that are staked, the greater the profit.
CoreDAO token overview
Token Data
- Token Name: Core DAO
- Ticker: CORE.
- Blockchain: Core Network
- Token Type: Utility Token.
- Token Standard: Updating….
- Circulating Supply: 392,600,000
- Total Supply: 2,100,000,000
- Max Supply: 2,100,000,000
- 24 hour Trading Vol (28/3/2022): Updating…
- Market Cap: Updating…
- Contract: 0x86053267656f1f10ae313f5c292ec7a643f94f52
Token Allocation
- Contributors: 15% – 315,000,000 $CORE
- Users: 25,029% – 525,600,000 $CORE
- Node Mining: 39,995% – 839,900,000 $CORE
- Reserves: 10% – 210,000,000 $CORE
- Treasury: 9.5% – 199,500,000 $CORE
- Relayer Rewards: 0.476% – 10,000,000 $CORE
Details of token allocation
Node Mining
The amount of tokens for running Node Mining will be allocated to be fully mined within ~81 years to ensure the operation of the network. In addition, users participating in node runs can also receive rewards from transaction fees collected on the network.
Users
Users who contribute to the network will receive Airdrop tokens $CORE from the project. The Airdrop process will be decentralized to millions of users.
External links
The project development team will receive corresponding “rewards” based on previous contributions to the project’s future intentions.
Reserves
This reserve can be used over time to leverage the platform without centralizing the supply of tokens.
Treasury
The Treasury will provide the DAO with the money needed to build the ecosystem.
Relayer Rewards
Like running a node, relayers will be compensated for the services they provide to the chain’s security. Relayer also receives rewards in the form of trading fees.
Development Team
CoreDAO’s construction team consists entirely of private individuals. They all share the same vision and enthusiasm for improving Web3. Commit to collaborating with the community to establish protocol rules that facilitate the growth of the ecosystem on the basis of decentralized Satoshi Plus consensus.
Attitude
Core DAOs may have great potential for developing decentralized asset and community management systems, but this depends on a number of variables, such as community peer and support, system complexity, and the capacity to develop and resolve safety issues.
If Core DAO is successful in resolving these issues, it could become an attractive option for those interested in decentralized systems.
Prior to deciding to invest in Core DAO or any other project, you should check and evaluate the risks yourself.
Contact
Website:https://coredao.org/
Twitter: https://twitter.com/Coredao_Org
Discord: https://discord.com/invite/Q9Ve633thA
Medium: https://medium.com/@core_dao
Summing up
Through the above article, CryptoChill has helped you know about the Core Dao and the highlights of the project.
Disclaimer: This post is not investment advice. You will be 100% responsible for your investment decisions.
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