When discussing cryptocurrency, most people immediately think of its monetary and technological capabilities. After all, Bitcoin was created to replace traditional monetary systems. However, cryptocurrency has evolved into an industry focused on community and decentralization.
While monetary and technological aspects remain central to the crypto industry, the ideas of community and inclusivity have become indispensable. This is best exemplified by Core DAO (CORE).
What Is Core DAO (CORE)?
Core DAO (CORE) is a Layer 1 blockchain project compatible with the Ethereum Virtual Machine (EVM), meaning it can run ETH smart contracts and decentralized applications (dApps). The Core network is secured by a unique consensus mechanism called Satoshi Plus, which combines Bitcoin's mining hash function with Delegated Proof of Stake (DPoS).
Developers aim to create an infrastructure that operates at the heart of Web3. Launched in January 2023, Core DAO is a decentralized project governed by its DAO, responsible for advancing Satoshi Plus.
The Core DAO Development Team
According to official Core DAO accounts, the project was created by an anonymous global team of contributors united by the goal of building a better Web3. They aim to achieve this through protocol rules ensuring ecosystem growth based on Satoshi Plus's decentralized consensus.
How Does Core DAO Work?
Core DAO revolves around Satoshi Plus for transaction validation and network security. It merges the best features of Bitcoin and Ethereum to create a blockchain that prioritizes security, decentralization, and composability. Core offers EVM-chain compatibility, enabling developers to manage smart contracts and dApps efficiently. By building valuable dApps, contributors earn rewards.
CORE: The Native Token of Core DAO
CORE is the native cryptocurrency of Core DAO, launched in early February 2023. The project has a maximum supply of 2.1 billion CORE tokens, with a circulating supply of just 7.07% (148.38 million tokens as of July 2023).
Use Cases for CORE Tokens
- Governance: Voting on protocol upgrades.
- Staking: Securing the network and earning rewards.
- Smart Contracts & dApps: Powering decentralized applications.
- Trading & Investment: Available on major exchanges.
Token Distribution
- 39.995%: Node mining rewards
- 25.029%: Core user allocations
- 15%: Contributor incentives
- 10%: Future development
- 9.5%: Treasury reserve
- 0.476%: Relayer rewards
👉 Explore Core DAO staking opportunities
Core DAO: A Web3 Community-Centric Project
Core DAO’s primary mission is fostering connections by incentivizing high-quality dApp development. A robust user network strengthens Web3 adoption, making it more accessible globally.
FAQs
1. What is Satoshi Plus?
Satoshi Plus combines Bitcoin’s Proof of Work with DPoS for enhanced security and scalability.
2. How can I acquire CORE tokens?
CORE is listed on exchanges like OKX and can be earned through staking or node participation.
3. What makes Core DAO unique?
Its EVM compatibility and hybrid consensus mechanism bridge Bitcoin’s security with Ethereum’s flexibility.
4. Is Core DAO fully decentralized?
Yes, it’s governed by its DAO, ensuring community-led decision-making.
5. Can I stake CORE tokens?
Yes, staking supports network security and offers rewards.
👉 Learn more about Core DAO’s roadmap
Conclusion
Core DAO exemplifies Web3’s potential by blending technology, decentralization, and community engagement. Its innovative Satoshi Plus consensus and EVM compatibility position it as a key player in blockchain’s future.
For real-time CORE price updates and market trends, visit OKX.