When people think about cryptocurrency, they primarily recall its monetary and technological potential. After all, Bitcoin was created to replace traditional monetary systems. However, today, cryptocurrencies have evolved into an industry centered around community and decentralization.
While monetary and technological aspects remain foundational, the idea of community and inclusivity has become a critical component—best exemplified by Core DAO (CORE).
What Is Core DAO?
Core DAO (CORE) is an L1 blockchain project compatible with the Ethereum Virtual Machine (EVM), enabling ETH smart contracts and decentralized applications (dApps) to run seamlessly. The network employs Satoshi Plus, a unique consensus mechanism combining Bitcoin’s hash-based mining and Delegated Proof-of-Stake (DPoS) to enhance security.
Launched in January 2023, Core DAO aims to build Web3 infrastructure while maintaining full decentralization through its DAO governance model.
Core DAO’s Development Team
According to official sources, Core DAO was created by a global team of contributors who chose to remain anonymous. Their vision centers on advancing Web3 by establishing protocol rules that foster ecosystem growth through decentralized Satoshi Plus consensus.
How Does Core DAO Work?
At its core, Satoshi Plus validates transactions and secures the network by merging the strengths of Bitcoin (security) and Ethereum (composability). Key features include:
- EVM Chain Composability: Enables developers to deploy smart contracts and dApps.
- dApp Incentives: Rewards developers for contributing value to the ecosystem.
CORE Token: Core DAO’s Native Cryptocurrency
Launched in February 2023, CORE is Core DAO’s native token with a max supply of 2.1 billion. As of July 2023:
- Circulating Supply: 148.38 million (7.07% of total supply).
Use Cases:
- Network governance and staking.
- Smart contract/dApp creation.
- Trading and investments.
Token Distribution
| Allocation | Percentage |
|------------------|------------|
| Node Mining | 39.995% |
| Core Users | 25.029% |
| Contributions | 15% |
| Future Reserves | 10% |
| Relay Rewards | 0.476% |
| Treasury | 9.5% |
Core DAO: A Web3 Community-Driven Project
Beyond technical utility, Core DAO prioritizes community building by:
- Incentivizing high-quality dApps to attract users.
- Fostering a robust Web3 user base to drive adoption.
👉 Discover Core DAO’s latest updates
FAQ
Q: What makes Satoshi Plus unique?
A: It merges Bitcoin’s Proof-of-Work with Ethereum’s DPoS for balanced security and scalability.
Q: How can I acquire CORE tokens?
A: They’re available on exchanges like OKX for trading or earned via ecosystem participation.
Q: What’s Core DAO’s long-term goal?
A: To become a foundational Web3 layer with strong community governance.