Core CORE
About
What Is Core (CORE)?
Core (CORE) is built as an L1 blockchain that is compatible with Ethereum Virtual Machine (EVM), therefore it can run Ethereum smart contracts and decentralized applications (dApps). The Core network is powered by the “Satoshi Plus” consensus mechanism, which secures the network through a combination of delegated Bitcoin's mining hash and delegated Proof-of-Stake (DPoS). The protocol is backed by its native token, CORE.
The developers of the project strive to create an infrastructure that operates at the core of web 3.0, offering revolutionary ideas to solve the blockchain trilemma.
The mainnet was launched in January 2023. The blockchain is governed by a decentralized autonomous organization (DAO), where the Core DAO is responsible for the development of the Satoshi Plus ecosystem.
Who Are the Founders of Core?
According to the official Core accounts, CoreDAO is a global team of contributors who share a vision and passion for a better web 3.0, idealists who contribute to the growth of the Satoshi Plus ecosystem through blockchain technology. The project has many supporters: about 1.6 million Twitter followers and over 74,000 Telegram followers, however, the identities of the creators, contributors and developers remain undisclosed to the public.
What Makes Core (CORE) Unique?
Satoshi Plus is the consensus mechanism to validate transactions and secure the Core network; the method is based on Bitcoin’s Proof-of-Work (PoW) and Ethereum’s Delegated Proof-of-Stake (DPoS) pairing. The combination of models allows the network to achieve both decentralization and scalability by dealing with the challenges of the blockchain trilemma.
Core provides the composability of an EVM chain, which ensures enabling conditions for managing smart contracts and dApps. By creating dApps on the Core blockchain and bringing value to the ecosystem, developers are rewarded with S-Prize tokens (so-called Satoshi Prize).
The protocol opts for decentralization by operating through a decentralized autonomous organization (DAO) that controls transaction fees and governance parameters, proposes upgrades, makes development proposals and votes on proposals.
How Many Core (CORE) Coins Are There in Circulation?
CORE is the utility and governance token of the Core network, which has a maximum supply of 2.1 billion coins. It works on the scarcity principle of value, following Bitcoin's hard cap.
The developers will implement a burn model similar to Ethereum's "Ultra Sound Money", where a certain percentage of rewards and fees will be determined by the Core DAO and burnt.
The total supply of CORE is distributed into six categories: 39.995% to node mining; 25.029% to Core users; 15% to contributors; 10% to reserves; 0.476% to relayer rewards; 9.5% to the treasury.
How Is the Core Network Secured?
The Core blockchain uses the Satoshi Plus consensus mechanism: a combination of Bitcoin's Proof-of-Work (PoW) framework and a modified Proof-of-Stake (PoS) mechanism aka the delegated Proof-of-Stake (DPoS) model.
In addition, the network is audited by CertiK, a firm specializing in web 3.0 security, blockchain protocol monitoring and crypto audits.
AI Analysis
What is the Core (CORE) cryptocurrency good for? What are its main use cases?
The Core (CORE) cryptocurrency is a relatively new and lesser-known token, and its main use cases and applications may not be as widely established or recognized as those of more popular cryptocurrencies. However, based on available information, here are some potential use cases and applications of the Core (CORE) cryptocurrency:
- Decentralized Finance (DeFi): Core (CORE) is designed to be used within the DeFi ecosystem, providing a fast, secure, and low-cost means of transferring value and executing smart contracts. It can be used for lending, borrowing, and Yield Farming.
- Gaming: Core (CORE) has been explored as a potential token for gaming platforms, allowing for the creation of decentralized gaming experiences, in-game item purchases, and rewards for players.
- Cross-Chain Interoperability: Core (CORE) aims to facilitate seamless interactions between different blockchain networks, enabling the transfer of assets and data between chains.
- Staking and Validation: Holders of Core (CORE) tokens can participate in the validation process of the network by staking their tokens, helping to secure the network and earn rewards in the process.
- Payment and Remittance: Core (CORE) can be used as a payment method for everyday transactions, such as buying goods and services, or for international remittances, taking advantage of its fast and low-cost transaction capabilities.
- Decentralized Applications (dApps): Core (CORE) can be used to power and interact with dApps, providing a secure and decentralized environment for various applications, such as social media, content creation, and more.
- Liquidity Provisioning: Core (CORE) can be used to provide liquidity to decentralized exchanges (DEXs) and other DeFi platforms, helping to facilitate trading and market making.
It is essential to note that the Core (CORE) cryptocurrency is still a relatively new and developing project, and its use cases and applications may evolve over time as the project progresses and the ecosystem grows. Additionally, the cryptocurrency space is known for its volatility, and the value and usefulness of Core (CORE) can fluctuate.
Before investing or using Core (CORE), it is crucial to conduct thorough research, understand the project's goals, and assess the potential risks and rewards. It is also important to stay up-to-date with the latest developments and announcements from the Core (CORE) team to ensure you have the most current information.
What blockchain does Core use? Is it its own blockchain or built on top of another?
Core, the decentralized social media platform, operates on its own blockchain called the Core Blockchain. It is not built on top of an existing blockchain like Ethereum or Solana but rather functions as an independent blockchain designed specifically for Core's needs.
Key Details About Core's Blockchain:
- Native Token: The Core blockchain uses its own cryptocurrency, CORE, which is used for transactions, governance, and incentivizing content creation.
- Consensus Mechanism: Core employs a Proof-of-Stake (PoS) consensus model, which is more energy-efficient than Proof-of-Work (PoW) systems like Bitcoin.
- Decentralized Infrastructure: The blockchain is designed to support decentralized social media, ensuring censorship resistance and user ownership of data.
- Smart Contracts & dApps: While Core is primarily focused on social media, its blockchain supports smart contracts and decentralized applications (dApps).
Why a Custom Blockchain?
Core chose to build its own blockchain to have full control over scalability, governance, and features tailored to social media use cases. This allows for better performance and customization compared to using an existing blockchain.
Would you like more details on how Core's blockchain works or its tokenomics?
Is Core programmable? Does it support smart contracts or decentralized applications?
Core (formerly known as Core DAO) is a blockchain platform designed for decentralized applications (dApps) and smart contracts. Here’s what you need to know about its programmability and support for smart contracts and dApps:
1. Is Core Programmable?
Yes, Core is programmable. It supports EVM (Ethereum Virtual Machine) compatibility, meaning developers can write and deploy smart contracts using Solidity, the same language used on Ethereum. This makes it easier for developers familiar with Ethereum to transition to Core.
2. Does Core Support Smart Contracts?
Yes, Core fully supports smart contracts. Since it is EVM-compatible, developers can deploy and execute smart contracts just like on Ethereum. This includes:
- DeFi protocols (lending, trading, yield farming)
- NFT marketplaces & collections
- DAOs (Decentralized Autonomous Organizations)
- Gaming & metaverse applications
3. Does Core Support Decentralized Applications (dApps)?
Yes, Core is designed to host decentralized applications (dApps). Its EVM compatibility allows developers to port existing Ethereum dApps to Core with minimal changes. Additionally, Core offers:
- Low transaction fees (compared to Ethereum)
- Fast finality (thanks to its consensus mechanism)
- Interoperability (via bridges to other blockchains)
4. Key Features of Core for Developers
- EVM Compatibility – Write in Solidity, deploy like Ethereum.
- Core Chain – A high-performance blockchain with fast transactions.
- Core DAO Governance – Community-driven development.
- Cross-Chain Bridges – Connects with Ethereum, Cosmos, and other chains.
Conclusion
If you're looking for a blockchain that supports smart contracts and dApps with EVM compatibility, low fees, and fast transactions, Core is a strong choice. It’s particularly appealing for developers who want Ethereum-like functionality without high gas costs.
Would you like help with deploying a smart contract on Core or exploring its ecosystem further?
How fast are Core transactions? What is the typical confirmation time and throughput (transactions per second)?
Core (formerly known as Blockstream Satellite) is a blockchain infrastructure project focused on privacy, scalability, and decentralization. It is built on the Liquid Network, a federated sidechain of Bitcoin that supports fast, confidential transactions.
Core Transaction Speed & Confirmation Time
- Confirmation Time: Typically 1-2 minutes (much faster than Bitcoin’s ~10-minute blocks).
- Throughput: The Liquid Network (which Core transactions operate on) supports ~1,000 transactions per second (TPS) in theory, though real-world performance may vary based on network conditions.
Comparison to Bitcoin & Other Blockchains
| Network | Avg. Confirmation Time | Max TPS (Theoretical) |
|---|---|---|
| Bitcoin | ~10 minutes | ~7 TPS |
| Liquid (Core) | ~1-2 minutes | ~1,000 TPS |
| Ethereum | ~15 seconds | ~15-30 TPS (pre-Merge) |
| Solana | ~400ms | ~65,000 TPS |
Key Features of Core (Liquid Network)
- Confidential Transactions: Uses Confidential Transactions (CT) to hide amounts and asset types.
- Fast Finality: Transactions confirm quickly due to federated consensus.
- Interoperability: Supports atomic swaps with Bitcoin and other assets.
Conclusion
Core transactions on the Liquid Network are much faster than Bitcoin, with 1-2 minute confirmations and high throughput (~1,000 TPS). This makes it suitable for institutional trading, asset issuance, and privacy-focused transactions.
Would you like details on fees or specific use cases?
How much data can I store on the Core blockchain? Does it support on-chain data storage?
The Core blockchain (formerly known as Coreum) is a high-performance blockchain designed for decentralized applications (dApps) and enterprise use cases. It supports on-chain data storage, but the amount of data you can store depends on several factors, including:
1. On-Chain Data Storage Limits
- Smart Contract Storage: Core supports smart contracts (written in Rust or C++), which can store data on-chain. However, storing large amounts of data directly in smart contracts can be expensive due to gas fees.
- Transaction Data: Each transaction can include a limited amount of data (typically a few KB per transaction). Storing large datasets directly in transactions is not practical.
- State Storage: The blockchain maintains a state database (like most blockchains), where smart contract data is stored. The exact storage limits depend on the blockchain's design.
2. Off-Chain Storage Options
For large datasets, Core recommends using off-chain storage solutions (like IPFS, Arweave, or decentralized storage networks) and storing only hashes or references on-chain. This is a common practice in blockchain development to reduce costs and improve efficiency.
3. Comparison with Other Blockchains
- Ethereum: ~100 KB per transaction (but expensive for large data).
- Solana: Supports larger data storage but still limited.
- Filecoin/IPFS: Better for large files (stored off-chain, referenced on-chain).
4. Core’s Approach
Core is optimized for high throughput and low latency, making it suitable for dApps that need fast data access. However, for bulk data storage, it’s best to use a hybrid approach:
- Store metadata or hashes on-chain.
- Store large files off-chain (e.g., IPFS, Arweave).
Conclusion
- On-chain storage: Limited to small datasets (KB range per transaction).
- Off-chain storage: Recommended for large files (with on-chain references).
Would you like guidance on implementing a hybrid storage solution for Core?
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