Core DAO ( CORE ) Price Live Chart

Core DAO (CORE)

Core DAO (CORE) is designed as a Layer 1 blockchain that maintains compatibility with the Ethereum Virtual Machine (EVM), allowing it to support Ethereum smart contracts and decentralized applications (dApps). The Core network utilizes the "Satoshi Plus" consensus mechanism, which combines the security aspects of delegated Bitcoin mining hash with delegated Proof-of-Stake (DPoS). At the heart of this protocol is its native token, CORE.

The project's developers are committed to establishing a foundational infrastructure within the realm of Web 3.0, aiming to introduce innovative solutions to address the challenges posed by the blockchain trilemma.

In January 2023, the mainnet of Core was successfully launched. The blockchain operates under the governance of a decentralized autonomous organization (DAO), wherein the Core DAO assumes responsibility for advancing the development of the Satoshi Plus ecosystem.

Founders

As per the official Core accounts, CoreDAO comprises a worldwide group of collaborators who share a common vision and enthusiasm for improving Web 3.0. These individuals are dedicated to advancing the growth of the Satoshi Plus ecosystem using blockchain technology. Despite having garnered significant support, including approximately 1.6 million Twitter followers and over 74,000 Telegram followers, the identities of the project's founders, contributors, and developers remain undisclosed to the general public.

What makes it unique?

Satoshi Plus functions as the consensus mechanism responsible for validating transactions and ensuring the security of the Core network. This innovative approach combines elements from Bitcoin's Proof-of-Work (PoW) and Ethereum's Delegated Proof-of-Stake (DPoS) mechanisms. By blending these models, the network achieves a balance between decentralization and scalability, effectively addressing the challenges presented by the blockchain trilemma.

Core offers the essential capability of an EVM chain, providing the necessary conditions for effectively managing smart contracts and decentralized applications (dApps). Developers who build dApps on the Core blockchain and contribute value to the ecosystem receive rewards in the form of S-Prize tokens, which are commonly referred to as Satoshi Prize.

To maintain decentralization, the protocol operates within a decentralized autonomous organization (DAO). This DAO oversees various aspects, including transaction fees, governance parameters, upgrade proposals, development initiatives, and the voting process on proposals.

Network security

The Core blockchain implements the Satoshi Plus consensus mechanism, which merges elements of Bitcoin's Proof-of-Work (PoW) protocol with a customized version of Proof-of-Stake (PoS) known as the delegated Proof-of-Stake (DPoS) model.

Furthermore, the network's security is bolstered by audits conducted by CertiK, a specialized firm that focuses on web 3.0 security, monitoring blockchain protocols, and conducting cryptocurrency audits.

Recent developments

Adam Sullivan has assumed the position of CEO at Core Scientific, a company specializing in high-performance blockchain computing data centers and software solutions. Formerly the President of the company, Sullivan's appointment as CEO is effective immediately, succeeding Kevin Turner, who has vacated the role. With a background rich in technological expertise, Sullivan is anticipated to guide the company through a phase of notable expansion. His selection is regarded as a significant advancement in Core Scientific's efforts to enhance its standing within the blockchain sector.

Future developments

Not available