When most people think of cryptocurrencies, they focus on their monetary and technological capabilities. After all, Bitcoin was created to challenge traditional financial systems. However, the crypto industry has evolved into a decentralized ecosystem driven by community engagement. While monetary and technological aspects remain central, the principles of inclusivity and decentralization now play pivotal roles—exemplified by Core DAO (CORE).
What Is Core DAO (CORE)?
Core DAO is a Layer 1 (L1) blockchain project compatible with the Ethereum Virtual Machine (EVM), enabling it to run Ethereum smart contracts and decentralized applications (dApps). Its unique Satoshi Plus consensus mechanism merges Bitcoin’s mining hash power with Delegated Proof-of-Stake (DPoS) to enhance network security. Launched in January 2023, Core DAO aims to become the backbone of Web3 infrastructure while maintaining full decentralization through its governing DAO.
Key Features:
- EVM Compatibility: Supports ETH-based dApps and smart contracts.
- Satoshi Plus Consensus: Combines Bitcoin’s security with DPoS efficiency.
- Decentralized Governance: Managed entirely by its community-driven DAO.
The Team Behind Core DAO
Core DAO was developed by a global, anonymous team of contributors united by a shared vision: to advance Web3 through decentralized protocols. The team focuses on fostering ecosystem growth anchored by Satoshi Plus consensus rules.
How Does Core DAO Work?
- Satoshi Plus Mechanism: Validates transactions by integrating Bitcoin’s proof-of-work and Ethereum-inspired DPoS.
- EVM Composability: Allows developers to build and deploy dApps seamlessly.
- Reward System: Incentivizes developers and users to contribute to the ecosystem.
👉 Discover how Core DAO compares to other Layer 1 blockchains
CORE Token: Native Cryptocurrency of Core DAO
- Launch Date: February 2023
- Max Supply: 2.1 billion CORE tokens
- Circulating Supply: 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.
- Fueling dApps: Powering smart contracts and decentralized services.
- Trading/Investment: Available on major exchanges.
CORE Token Distribution
| Allocation | Percentage |
|---|---|
| Node Mining | 39.995% |
| Core Users | 25.029% |
| Contributors | 15% |
| Future Use | 10% |
| Relay Rewards | 0.476% |
| Treasury | 9.5% |