Core DAO is a Layer 1 blockchain platform optimized for scalability, security, and decentralization through the Satoshi Plus consensus mechanism, combining PoW and DPoS.
The Core DAO project focuses on balancing three important factors of blockchain, along with the $CORE Token developed to support a sustainable ecosystem and an advanced Community DAO.
MAIN CONTENT
Core DAO balances scalability, security, and decentralization through the unique Satoshi Plus consensus mechanism.
$CORE Token has a reasonable allocation related to Node Mining, the community, and the treasury with a total supply of 2.1 billion Tokens.
Features like the Satoshi Mining App and Staking are highlights attracting the community for sustainable development.
What is Core DAO?
Core DAO is developed to solve the 'impossible trinity' problem of Layer 1 networks like Ethereum and Solana regarding scalability, security, and decentralization. This is an upgraded blockchain based on the Geth codebase with the Satoshi Plus consensus mechanism, combining the advantages of Proof-of-Work and Delegated Proof-of-Stake.
The project leverages improvements from Binance Smart Chain to enhance trading performance, reduce costs, while maintaining high decentralization thanks to a technical hard fork model.
What is special about the Satoshi Plus consensus mechanism?
Satoshi Plus is a hybrid consensus system between Proof-of-Work (PoW) and Delegated Proof-of-Stake (DPoS). This mechanism leverages fast processing, security, and decentralization strengths while minimizing the drawbacks of each individual mechanism.
Satoshi Plus allows Core DAO to operate with high decentralization without affecting performance, creating a suitable consensus mechanism for the widespread development of Web3.
Quoted from the Core DAO development team, 2023
In which PoW requires mining algorithms on each block, DPoS allows Token holders to vote to select representatives to validate blocks, helping to accelerate processing. CORE DAO is the first blockchain to apply this mechanism as a foundation for long-term development.
Key features of Core DAO
Core DAO recently officially launched its Mainnet, supporting many grant programs for developers and users through the website coredao.org. The project not only has a new mechanism but also diversifies its ecosystem with useful applications.
Satoshi Mining App
Satoshi Mining App is a part of Core DAO's mining ecosystem, helping users leverage $CORE Tokens to earn rewards through network participation. This application not only boosts profits but also strengthens active community engagement.
Staking
The staking form on Core DAO allows $CORE Holders to contribute to network security. By delegating Tokens to validators, users can receive rewards proportional to the number of Tokens staked.
Overview of CoreDAO Token
Token Data
Token Name: Core DAO
Symbol: CORE
Blockchain: Core Network
Token Type: Utility Token
Total Supply: 2,100,000,000 CORE
Circulating Tokens: 392,600,000 CORE
Contract Address: 0x86053267656f1f10ae313f5c292ec7a643f94f52
Token Allocation
$CORE Token is reasonably distributed to ensure the sustainable development of the network and community.
Node Mining: 39.995% (~839,900,000 CORE)
Users: 25.029% (~525,600,000 CORE)
Contributors: 15% (~315,000,000 CORE)
Reserves: 10% (~210,000,000 CORE)
Treasury: 9.5% (~199,500,000 CORE)
Relayer Rewards: 0.476% (~10,000,000 CORE)
Details about Token allocation
Node Mining
Most Tokens allocated for Node Mining will be distributed over about 81 years, ensuring stable network operation. Node operators also receive rewards from transaction fees.
Users
Active users participating in the network will receive $CORE Tokens through decentralized airdrop rounds to millions of individuals.
Contributors
The project development team receives rewards based on their contributions during the building and operation of Core DAO.
Reserves
The reserve fund used for long-term platform development without disrupting the Token supply balance.
Treasury
The treasury provides funding to develop the ecosystem and support partners and developers.
Relayer Rewards
Relayers providing chain security services also receive rewards from transaction fees similar to nodes.
Development Team
The team behind Core DAO is a discreet group but has a vision for sustainable Web3 development, committed to working with the community to ensure the ecosystem develops in a decentralized and transparent manner.
Investors & partners
Specific information about Core DAO's investors and partners is being continuously updated to maintain confidentiality and focus on the project's long-term development.
Perspective on Core DAO
Core DAO opens up the potential to build an effective decentralized community and asset management system. The success of the project heavily depends on community support, technical solutions, and system safety levels.
If Core DAO develops synchronously, this will be an attractive option for those interested in the Web3 platform and decentralized blockchain.
However, investors should carefully assess risks before participating in any cryptocurrency projects.
Frequently asked questions about Core DAO and the $CORE Token
How to buy $CORE Token?
The $CORE Token has now been issued on the Core Network with smart contract: 0x86053267656f1f10ae313f5c292ec7a643f94f52. Users can check and purchase through the listed exchanges or use EVM-compatible wallets.
Is investing in Core DAO safe? Who created the $CORE Token?
Specific information about the Core DAO development team has not been publicly disclosed. However, the project has a strong community with over 1.5 million followers on Twitter and 170,000 members on Discord, reflecting its appeal and growth potential.
What makes Core DAO different from other Layer 1 blockchains?
The special point is that Core DAO combines two mechanisms PoW and DPoS through Satoshi Plus, aiming to balance performance, security, and decentralization – something many Layer 1 blockchains are struggling to address.
How can $CORE Token be staked?
$CORE holders can delegate Tokens to validators through staking and receive rewards based on contribution rates, which is a form of Delegated Proof of Stake that helps protect the network.
Does Core DAO support ecosystem and community development?
The project offers many grants and applications to support development for developers and the community, helping to expand a diverse ecosystem with useful products and opportunities for Token value growth.
Source: https://tintucbitcoin.com/core-dao-core-la-gi/
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