Core, a novel layer one blockchain, is pushing boundaries to provide users with simultaneous decentralization, security, and scalability.
Core is an independent blockchain created at the Core of Web 3. At the base of the blockchain is a new consensus mechanism, Satoshi Plus, that allows Core to the Ethereum Virtual Machine (EVM) and leverage the Bitcoin mining hashrate. Satoshi Plus applies a protocol-driven validator election mechanism to bring out the optimal Delegated Proof of Stake (DPoS) and Proof of Work (PoW) features. This maximizes security, decentralization and scalability.
Bitcoin miners and CORE token holders can participate in Core’s security through the Satoshi Plus consensus. The miners and holder can now delegate their BTC hash power and staked CORE to a decentralized set of validators. As a result, validators can quickly and securely produce blocks and validate transactions.
Core is also fully EVM compatible, enabling easy implementation of smart contract applications from Ethereum-based chains. The team behind the project plan to incorporate the best technologies and leverage scaling solutions from Ethereum and other compatible chains, including various rollups.
Following Bitcoin’s sound money model, Core’s native token, CORE, has a supply of 2.1 billion tokens with a hard cap. In addition, a percentage of all transaction fees and block rewards will be burned. This will be done similarly to Ethereum’s “Ultra Sound Money” model. Notably, the exact percentage to be burned will be determined by the Core community. Similar to Avalanche’s tokenomics model, CORE also plans to follow Avalanche’s tokenomics model, approaching the total of 2.1 billion tokens but never fully reaching it.
Governed by the development team, Core hopes to grow and achieve full decentralization creating CoreDAO eventually. The DAO’s mission will be to create the strongest community in Web3 that will be open to all users. Currently, the project has a significant number of followers on Twitter, over 1.7 million, and over 239k members on Discord. The CORE token recently had one of the largest airdrops, which over 1.2 million participants received. CORE aims to become both the value usability and accrual layer for all decentralized applications.