Core (CORE) is a Layer 1 blockchain that is compatible with the Ethereum Virtual Machine (EVM), enabling it to run Ethereum smart contracts and decentralized applications (dApps). The Core network operates on the "Satoshi Plus" consensus mechanism, which combines elements of Bitcoin's mining hash and Delegated Proof-of-Stake (DPoS) to secure the network. The protocol is supported by its native token, CORE. The developers of Core aim to establish an infrastructure that operates at the heart of web 3.0, introducing innovative solutions to the blockchain trilemma. The Core network is governed by a decentralized autonomous organization (DAO), the Core DAO, which oversees the development of the Satoshi Plus ecosystem.
How does Core work?
Core operates on the Satoshi Plus consensus mechanism, which combines Bitcoin's Proof-of-Work (PoW) and Ethereum's Delegated Proof-of-Stake (DPoS) to validate transactions and secure the network. This combination aims to achieve both decentralization and scalability. Core provides the composability of an EVM chain, which creates enabling conditions for managing smart contracts and dApps. Developers who create dApps on the Core blockchain and contribute value to the ecosystem are rewarded with S-Prize tokens. The protocol operates through a DAO that controls transaction fees and governance parameters, proposes upgrades, and votes on proposals.
What are the potential use cases for Core?
Core's compatibility with the Ethereum Virtual Machine (EVM) allows it to run Ethereum smart contracts and decentralized applications (dApps), making it a potential platform for a wide range of web 3.0 applications. Developers can create dApps on the Core blockchain, contributing to the ecosystem and earning S-Prize tokens in return. The Core DAO, which governs the network, can propose upgrades, control transaction fees and governance parameters, and vote on proposals, making it a potential platform for decentralized governance. The Core network also aims to address the blockchain trilemma, potentially aiming to be a more scalable, secure, and decentralized platform for blockchain applications.
What is the history of Core?
The Core network was launched in January 2023. The project was developed by CoreDAO, a global team of contributors who share a vision for a better web 3.0. The identities of the creators, contributors, and developers remain undisclosed to the public. The Core DAO, which governs the network, oversees the development of the Satoshi Plus ecosystem. The CORE token, which supports the protocol, operates on the scarcity principle of value, similar to Bitcoin's hard cap.
