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Core

The Core Blockchain (Core Chain) is a layer one powered by and compatible with the . Its notable feature is a novel consensus mechanism called Satoshi Plus, which combines Delegated (DPoW) and . [1]

Overview

Launched on January 14th, 2023, the Core Blockchain (Core Chain) is a layer one powered by and compatible with the Virtual Machine (EVM). Its distinguishing feature is the Satoshi Plus , amalgamating Delegated (DPoW) and . This mechanism addresses the blockchain trilemma, which posits that a cannot simultaneously achieve decentralization, security, and scalability. By leveraging the Bitcoin hash rate and DPoS consensus, Core seeks to enhance security, scalability, and decentralization. As the first to implement Satoshi Plus, Core seeks to catalyze broader adoption of by fostering necessary network effects. [2]

Core DAO

The Core team oversees the Core via control of the . However, future plans entail gradually decentralizing governance, with CORE token holders entrusted to foster and uphold a community aligned with the project's vision. The envisions three developmental stages for decentralization: Off-chain governance, wherein resolutions are passed with a majority of voters; Limited on-chain governance, facilitating changes to fixed parameters through on-chain voting; and ultimately, Full on-chain governance. [2]

Technology

Satoshi Plus

The Satoshi Plus mechanism integrates the hash power of miners with Core to synchronize blocks between the miner and Core network. Alongside, consensus enables token holders to vote and select , fostering small holders' participation in network governance. selection involves a complex formula encompassing and mechanisms, with the top 21 elected for 200 blocks. Misbehavior leads to slashing and jailing mechanisms. Blocks are mined every 10 minutes, akin to the network. Rewards are distributed among and the System Reward Contract, with 90% allocated to and the remainder to relayers and verifiers. [2] wiki

CoreScan

CoreScan is the CORE official , API, and analytics platform. The CoreScan Open APIs have been created to ensure fair access to Core's data. They enable developers to directly utilize CoreScan's data and services through standard GET and POST requests. These APIs are offered as a community service without warranty, allowing users to access what they require without unnecessary limitations. [3]

Non-Custodial BTC Staking

Non-Custodial offers a secure and decentralized approach for holders to earn rewards. Users can lock their holdings through a time-bound mechanism within the original network, enabling active participation in the Core while staking. This mechanism is called CLTV timelocks, a -native cryptographic feature setting conditions for transaction outputs. Rather than relinquishing custody of their , stakers on Core place their in CLTV timelocks within a transaction, which can be configured to return the output after a specified time. Stakers include a script in the transaction with details such as the Core Validator address and the address for receiving CORE token rewards. By delegating their to vote for on Core Chain, stakers earn CORE token rewards, making their otherwise passive holdings productive. This non-custodial implementation of Native enables users to keep their assets on the network while staking, thereby expanding utility and incentivizing stakers. [4]

Core Bridge

The Core Bridge, fueled by , facilitates smooth asset transfers between Core and other . It comprises contracts on Core for cross-chain transfers and bridge/token contracts deployed on both Core and connected , ensuring seamless interoperability across the ecosystem. [5]

coreBTC

coreBTC is a native on the Core Chain, maintaining a 1:1 peg with via a secured and trustless mechanism. This enables users to seamlessly engage with the space on the EVM-compatible Core Chain using their assets, thereby expanding utility within while preserving its security features. In contrast to centralized wrapped tokens like , which require a custodian to hold the underlying , coreBTC operates on a decentralized infrastructure involving permissionless participants such as Lockers, Guardians, and Liquidators. This decentralized model enhances security and integrity, aligning with the decentralized ethos and mitigating risks associated with central custodians. [6] wiki

CORE

CORE, the native on the , plays a crucial role in and covering fees. With a total supply of 2.1 billion, CORE follows a token model similar to . Like , a portion of block rewards and fees will be . The emission schedule spans 81 years to attract miners to delegate their hash power to the network after the expected decrease in rewards around 2040. [2]

Tokenomics

CORE had the following allocation: [2]

  • Node Mining: 839.9 million CORE tokens (39.995% of total supply), distributed over 81 years
  • Users: 525.6 million CORE tokens (25.029% of total supply), with the first in February 2023
  • Contributors (Existing and Future): 315 million CORE tokens (15% of total supply)
  • Reserves: 210 million CORE tokens (10% of total supply)
  • Treasury: 199.5 million CORE tokens (9.5% of total supply)
  • Relayer Rewards: 10 million CORE tokens (0.476% of total supply)

stCORE

Introduced in January 2024, stCORE aims to improve the functionality of the CORE token and streamline the procedure, offering token holders more flexibility and efficiency. While staking CORE assists in network security, it traditionally restricts token holders from engaging with various protocols due to the inability to transact tokens. However, this limitation has been overcome with Tokens, unlocking for staked tokens and enabling their utilization in diverse interactions within the ecosystem. Essentially, enhances for staked tokens, building upon existing frameworks. [7]

Partnerships

On April 29th, 2024, , a bridge from , launched on Core Chain. gives users seamless access to various services on the Core Chain. [8]

Pyth

On November 14th, 2023, became accessible on Core, marking a notable infrastructure expansion. Recognizing the pivotal role of infrastructure in maintaining a robust ecosystem, incorporating into Core's existing networks enables developers to construct more sophisticated protocols. This enhancement instills users with increased confidence in the efficiency of applications running on Core. [9]

Ankr

On November 13th, 2023, Core announced its integration with , a leading infrastructure provider, to offer Core-specific Remote Procedure Calls (RPCs). With access to reputable RPC endpoints, developers can ensure seamless and high-speed performance for their . [10]

SushiSwap

On August 2nd, 2023, Core announced the full integration of , a highly regarded in the space, onto Core. The integration of introduces concentrated , cross-chain swaps, and a aggregator, aiming to provide users with optimal quotes across various token pairs, thereby empowering them within the ecosystem. [11]

OKX

On March 9th, 2023, Core announced its strategic partnership with to broaden product integration and collaborate with the CORE community, including agreements and improved compatibility with Core . [12]

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Core

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May 30, 2024

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