Project Introduction
Core DAO is the first Turing-complete blockchain based on the Satoshi Plus consensus mechanism, which combines Bitcoin mining, hash arithmetic, and Ether Virtual Machine (EVM) to maximize security, scalability, and decentralization, aiming to provide a high consensus and highly reliable underlying infrastructure for blockchain.
Satoshi Plus is a new consensus mechanism tailored by Core DAO, inspired by BTC and ETH, which combines the advantages of PoW and DPoS while overcoming the disadvantages of each. With Bitcoin’s arithmetic to guarantee decentralization, DPoS, and leadership election mechanism to ensure scalability and a collaborative maintenance network to guarantee security, it is expected to be the best solution to the Blockchain triangle Trilemma.
Due to CORE DAO’s stipulation of “the sooner you participate, the more you can mine” and the chance to get BTC for free, it harvested many users as soon as it was launched. On December 15, 2022, Core DAO stopped free mining after two years. Meanwhile, in December 2022, it started mobile mining mode, an innovative way to airdrop coins to users, up to now, 525 million coins have been airdropped to users worldwide for free through this way.
On January 14, 2023, Core DAO announced the main network launch and teased in the official tweet that it would soon CORE circulation. Several centralized exchanges, such as MEXC, have already allowed CORE top-ups.
Tokenomics
Core DAO’s governance token is CORE, with a total issuance of 2,100,000,000 pieces, and it is allocated as follows
39.995% is allocated to node mining to reward miners and other participants for securing the network, and these node rewards will be distributed over 81 years
25.029% is allocated for community airdrops
15% is allocated to incentivize past, present, and future core contributors
10% is as a reserve that may be used over time
9.5% is allocated to DAO to provide the funds needed to build the ecosystem
0.476% is allocated as relayer rewards, and like nodes, relayers must be compensated for the services they provide to the security of the chain
In 2040, the Core DAO network will likely provide additional rewards for Bitcoin miners after the Bitcoin block rewards cease. Each year, the block rewards will be 3.6% less than the previous year.
According to the latest official news, CORE will be launched on centralized exchanges such as MEXC as soon as possible after its circulation.
Analysis of the Coin’s Utilities
The utilities of CORE are as follows:
- Transaction: To pay Core DAO transaction gas fee
- Staking: Users can stake COREs in the public chain to gain revenue
- Governance: Vote on Core DAO for governance
Advantages
- As the consensus mechanism created by Core DAO, Satoshi Plus integrates the advantages of PoW and DPoS. It has a good balance of scalability, security, and decentralization, which is expected to help Core DAO break the impossible triangle trilemma and initiate a new revolution in the public chain realm.
- Core DAO is expected to accelerate the development process by leveraging the existing knowledge, technology, and infrastructure, and its mainnet is now launched. And it fully draws on Bitcoin’s absolute scarcity model to keep the total number of governance tokens CORE constant at 2.1 billion, which will significantly resist its inflation.
- Core DAO has about 11 million registered users, with over 6 million users mined and daily activity of up to 1.6 million. The community’s social media data also performs brilliantly, its Twitter has more than 1.5M followers, its Discord channel has up to 161,759 members, and it has gained high market attention.
Risk Analysis
Although Core DAO has launched its mainnet, the foundation for its ecosystem is relatively weak. The maturation of its developer ecosystem is an essential factor for it to be the leading public chain and develop sustainably. At present, CORE DAO’s ecosystem development needs further observation. In addition, 25% of the coins previously mined will be issued to users as an airdrop within 60 days after CORE’s launch on the centralized exchanges, which may cause some selling pressure on the market. The public chains emerging in the market are trying to improve the consensus mechanism, and Core DAO has chosen a track with huge opportunities yet fierce competition. Although it has a significant user base and market attention, CORE DAO’s success will still need the market verification.
Note: This article is written by MEXC community users for information sharing only and does not constitute any investment advice.
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