In this Telegram AMA recap, you’ll find insights about the Core project. In an event hosted by Yity from MEXC, you will meet Brendon (Contributor to CoreDAO).
On February 3rd, 2023, Brendon, contributor to CoreDAO, sat down for a Telegram AMA with the MEXC. He answered a large variety of questions, including what is CORE,the story about CORE started, the vision and mission of CORE. On February 8rd, 2023, MEXC will list $CORE at first.
We’d like to say massive thanks to all of you who joined the CORE AMA.We appreciate all your support. This is a recap of the entire session, in case you missed it!
Introduction
Yity: Today, we’re honored to have Brendon , in our community to give us a more intuitive introduction to their unique project.
Brendon: Hi everyone here! Thank you MEXC for having us and working with Core! My name is Brendon and I’m one of many contributors around the world on the Core team 🙂 We’ve worked really hard to get here, and can’t wait for the airdrop and listings on February 8th. Then the real work starts supporting our ecosystem and seeing through our Mission!
Questions from Community:
Yity: 1. What is CORE? Can you share with us more in detail?
Brendon: Yeah let’s start from the basics Core is an EVM-Compatible L1 Blockchain. It is powered by our novel Satoshi Plus Consensus Mechanism which combines Delegated proof of work (BTC) and delegated proof of stake (DPOS)
Core provides the composability of an EVM chain, with the decentralization and security of Bitcoin to creatively solve the blockchain trilemma. The native token is $CORE (Visit coredao.org!)
Yity: 2. Why was Core started? What’s the story behind it?
Brendon: This is one of our favorite stories to tell!
It all started with a friendly debate between two close friends. At the time one was a BTC maxi, and the other an ETH maxi.
Their debate led to the creative idea of creating a blockchain that combined the best components of both. And voila, Core was born. A layer 1 blockchain that leans on the decentralization and security that comes from Bitcoin’s PoW Consensus, combined with the composability of an EVM chain for dApps, smart contracts, and more.
Yity: 3. What is Satoshi plus consensus, how does it differentiate from other consensus?
Brendon: Satoshi Plus is made up of DPoS and PoW (from BTC mining pools). In order to elect our validators we look at both the delegated stake and their delegated hash and select the top N (by hybrid score)
We believe BTC PoW is the most decentralized and secure form of consensus, and we have found a way to use it as the base of Satoshi Plus Consensus and Core blockchain.
Yity: 4. What do you think are the main problems facing our industry and how Satoshi Plus consensus will empower and solve it?
Brendon: This is a long answer. Be warned 🙂 We did a lot of things differently here at Core. There are two primary ideologies in today’s crypto ecosystem – the Bitcoin maximalists and the ethereum maximalists. These groups are very polarized but really they just care about different things.
The Bitcoin maximalists understand the power of PoW governance and the importance of decentralization and put that first, the Ethereum maximalists value composability and the power of smart contracts. Core’s origin story is a debate between two of them that ultimately decided both are right and sought to combine both philosophies.
Beyond the consensus mechanism there are many other problems that have plagued other projects. Most prominently development of a community and the ownership of a token network with that community. We took a different approach in many ways than your typical blockchain or crypto project. In many ways we are an underdog.
Firstly, we didn’t take outside investment. Meaning there were no early token sales, or investors free riding on the work of contributors . Instead, we allocated 25% of supply to our community because we wanted a community owned and lead chain.
Secondly Satoshi plus solves the blockchain trilemma. We don’t compromise on decentralization, security, or scalability with our novel consensus mechanism.
Take your time to read this plz 🙂
Yity: 5. Please tell us more about the vision and mission of CORE.
Brendon: The combination of the best of BTC and the best of ETH positions Core to eventually be the the primary L1 globally 🔥
We believe in a multi chain future and that certain chains will do things better than others and that there will always be a place for them. However, the foundational chain for global activity, the core chain if you will, must be decentralized, must be secure, and must be scalable.
There are 7B+ people who have never used a blockchain. The ecosystem is still incredibly young. By properly organizing the technical capabilities of the core blockchain with an engaged community and a fair distribution we believe we are the first blockchain in years aligned with the right principles to accomplish this.
Imagine if satoshi built Bitcoin in 2023 👀
Free-asking Segment: Answer Questions from the community
Q1. 🟢 Nowadays, despite all the advances that NFT technology has had, there are many users both inside and outside of the blockchain who do not know the potential of these. What is your plan to attract and educate those Users who are not yet holders of NFT?
Brendon: We’re very excited about NFTs at Core, and already have multiple NFT launchpads and cool NFT projects slated to launch next week
The cool thing about our community is, most are brand new to crypto, NFTs are new. So just by onboarding millions of people into Core, they will get a great intro to NFTs on Core
also…. we may have an NFT surprise for the community. But…. you’ll have to wait for that 👀
Q2. Do you have any plan of starting staking programme? Staking programme is very important for any project ? thanks Sir.
Brendon: Yes! Visit stake.coredao.org to support the Core blockchain and earn staking rewards. Staking helps secure the core network, and also provides scarcity to the $CORE token.
Q3. Can you share some Details about Recent Major Achievements done by your project? Also, what are the Future Roadmap & Targets of your project?
Brendon: As mentioned above we have big aspirations at Core. We want to become the primary L1 globally. After our Airdrop February 8th, the focus is on building out our ecosystem with builders. We already have a bridging partner (LayerZero) and Oracle (SwitchBoard). And we have dozens of projects building on the Core blockchain already (DeFI, NFT, games). The first part of 2023 will be building up a robust DeFi and gaming ecosystem for our massive and engaged community.
We will be releasing a detailed public roadmap this month with more details on our 2023 plan and beyond! And will be looking for the community to contribute their ideas on the future of Core!
Q4. Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project also like this? If not can u tell us, What makes your project different from other projects??
Brendon: Totally understand here. One thing is our team has been in crypto for well over a decade, crypto OGs. We’ve also founded and exited tech businesses. This is is a global and proven team of contibutors. Not fly by night 🙂
We’ve been working tirelessly on this project for 3 years. And mainnet is already live. You can see everything here! scan.coredao.org We deliver what we promise
What makes us different is how we have designed our tokenomics to be a long-term project. Rather than short-term insiders get rich. It’s a fair drop with rewards for block production paying out the next 81 years!
We’re here to build for the long-term folks
Q5. What is $CORE utilities?
Brendon: $CORE is the native token of the Core Blockchain. Similar to other Layer 1 blockchains, the utility of the token is that it is the native currency & “gas” to interact with the Core blockchain.
$CORE is also used for staking on the Core network and participating in Core Network governance. The more demand and usage by developers and users on the chain will be a major driving demand factor for the token!
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