Core Network

Introduction to Core Network (CORE)

The Core Network is one of the newest blockchains within the landscape, and with Ethereum and Bitcoin being two of its biggest sources of inspiration, its status as an EVM-compatible Layer 1 blockchain becomes obvious.

Why the EVM (Ethereum Virtual Machine) compatibility, though? Well, that’s because it’s literally the most popular environment out there for the management of decentralized applications (dApps) and smart contracts.

By doing this, Core ensures that users may execute the exchanges they’d want with the primary EVM.

But every blockchain needs a consensus mechanism to reach consensus and validate transactions now doesn’t it?

However, Core’s answer to that might be a bit different than you may come across normally within this landscape, and that is it blends Ethereum’s scalability and efficiency with the security and decentralization of Bitcoin, and the name given to such an attempt is the Satoshi Plus consensus. 

To be more specific, this consensus is a blend of Proof-of-Work (PoW) and Delegated Proof-of-Stake (DPoS).

So, here, imagine a scenario where instead of miners having to compete with one another to cryptographically solve those hashes, they instead delegate or share their hash power with the validators they prefer, who would then work together if they’re selected, and as for who gets to validate the block, that is instead left to the stakers, even the small ones, or all of them, in fact.

So, here, you see how PoW and DPoS are uniquely combined to offer an alternative that could potentially be more scalable, and, well, decentralized.

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Origins of Core Network

When you look at its launch date, you’ll realize just how much new this blockchain project is, as it was released on January 14, 2023.

However, despite that, the blockchain has already managed more than 142,000 transactions! It’s capable of handling smart contracts and various dApps (decentralized applications).

Not only that, but the team launched CORE, the network’s native token, this year! And there are even plans to have major cryptocurrency exchanges support it later on. All in all, this may be a blockchain that’s poised for growth.

Ever heard of the blockchain trilemma? Well, that is one problem that many blockchains have been working tirelessly to solve and Core isn’t any different.

But, in case you didn’t know, the blockchain trilemma refers to just one of the several hurdles that any cryptocurrency will face if it is to acquire mass adoption.

Simply put, the challenge is this: simultaneously achieving optimal levels of security, decentralization, and scalability.

And this is one challenge that is by no means easily met. Why? Because blockchain developers will end up making trade-offs between scalability, decentralization, and security.

To achieve decentralization and security, scalability may have to be sacrificed, or acquiring scalability and security will be at the expense of decentralization. It is generally held that getting all three in the bag is nearly impossible.

Still, that hasn’t stopped attempts from being made, and Core’s Satoshi Plus consensus mechanism, which we discussed earlier, is one such attempt.

Tokenomics of CORE

If you were wondering what the CORE token actually is, its purposes, or its tokenomics, and whatnot, look no further, for here, we’ll be discussing just that. Starting off with utility, the token has two main roles to play, and these include covering gas fees and staking.

Also, matching its predecessor’s, aka Bitcoin’s, token model, its supply is fixed to 2.1 billion tokens. But Ethereum’s methodology also makes an appearance here in that the network will burn away a part of the gas fees and block rewards.

As for the emission of these tokens, that’s spread throughout an 81-year schedule. The goal here is to attract the hash power of those Bitcoin miners who will be done with mining the BTC token during the expected decline in mining rewards around 2040.

On to the distribution model now, 39.995% of its total supply will be allocated to node mining, 25.029% will be allocated to the users, 15% to the contributors, 9.5% to the treasury, 10% to the reserves, and 0.476% to relayer rewards. And that pretty much sums up the tokenomics of the CORE token.

How to Purchase CORE

So, has your interest in this token piqued and you’re looking to get some of it for yourself? You won’t have to look for long, as it’s available on many popular cryptocurrency exchanges like Huobi, OKX, Bybit, Poloniex, and many more.

But depending on what exchange you decide to go through with when buying this token, the process may vary slightly.

For instance, you may have to complete KYC, enable 2FA, and more before you eventually get to buy the token, which will likely be paired with all sorts of trading pairs, including BTC, ETH, and of course, USDT. All things considered, there are plenty of ways for you to get your hands on this token should you want it.

CORE’s Consensus Mechanism

Earlier, we went over what the Satoshi Plus consensus mechanism is; however, that was a bit of a surface level explanation, so here we’ll be going over what it is in some depth.

On an individual level, DPoS and PoW are both solid consensus mechanisms, but once again, Satoshi Plus’s most distinguishing feature is how it combines the two. To blend the decentralized security that the BTC-powered PoW can provide with the DPoS mechanism’s scalability, there’s a Validator Election Mechanism in place within Satoshi Plus.

Here, only validators with the optimal combination of staked CORE and BTC hash power will be selected for the Validator Set, so that blocks may be produced both efficiently and securely.

With a Validator Set that’s safely elected through a decentralized voting/delegating base, there’s the potential for a higher transaction rate or increased scalability without the expense of decentralization and security.

The blend of PoW, DPoS, and that Validator Election Mechanism discussed earlier can optimally combine decentralization, security, and scalability, enough to potentially solve that blockchain trilemma that has dreaded new projects for so long now.

But that’s not all there is to the scalability and security provisions here, as other network participants like Verifiers and Relayers will be tasked with providing that as well, where they’ll adhere to some well-crafted stick-and-carrot incentives.

Governance and Community Involvement

It seems like any blockchain network these days will have a DAO behind it that’s running it, and here, you can bet all your funds that that’s the case. With the Core DAO, its community is given a voice in how things can be run.

They can open proposals, vote on important decisions that leave ripple-like effects throughout Core’s ecosystem, and feel like they belong somewhere within the vast cryptocurrency space.

In other words, the community can be very much involved within the direction this project can and will take, which should be quite a welcoming addition to its arsenal, or just one of multiple reasons to be invested here.

Core Network’s Unique Features

EVM compatibility is probably one standout feature of Core, which gives it enormous leverage within the world of blockchain. And in case you were wondering what EVM-compatibility even means, know that it just implies that the smart contract platform, which, in this case would be Core, may process transactions based on Ethereum’s code.

In addition, this compatibility might also mean that the tokens will actually be the same on just any other network since they’ll be having the same standard, i.e., ERC-20, which allows for interchain operability and easy bridging; though, that may not always be the case.

There’ll still be some differences between those chains with regards to speed, transactional costs, or even consensus. Or, some projects may even just take Ethereum’s code, fork it, or perhaps tweak some things to their favor.

Then you’ll find other completely EVM-compatible Layer 1s that aren’t Ethereum forks, such as Telos, or even some Layer 2 scaling solutions that are EVM compatible as well, like Matic.

As the blockchain landscape evolves even more, it’s getting more and more vital to have chains that are interoperable with one another so that liquidity may be accessed along with some additional functionalities.

And, this is also what will get the most users at the end of the day. For example, a token’s contract may practically be identical on EVM compatible blockchains so bridging tokens from one chain to another can be made a lot easier.

All this is exactly why Core made EVM-compatibility a go-to trait for itself, which will undoubtedly play a crucial role in the future of Web3 and blockchain.

Conclusion

The blockchain landscape is not short of innovations and Core has just added even more to it with its Satoshi Plus consensus mechanism that combines what its predecessors, namely Bitcoin and Ethereum excel at for the better, all without much of the drawbacks associated with them.

If this turns out as well as the team behind it hopes then it will leave an important mark within the industry, a way that other blockchains can follow or innovate further on.

We Coin-Labs.com provides only objective information about Core Network.
Therefore, we are not responsible for the investment decision in Core Network and the resulting loss.

Core Network Basics

Here are some factors that investors should consider before investing in Core Network.

Cryptocurrency Features	Core Network ()
Publisher or Developers
Headquarters (Registration Number)
Symbol
Platform
Published Date (CMC Registration)	2024-10-02
Max Supply	958,691,258,152,859

Reliability Score of Core Network in 2024

These are indexes mesuring the investment reliability of Core Network conducted by Coin-Labs.com.

Investment Reliability Rating Items	Scores and Current Status
Company Activation Rate	/ 10.0 CAR
Communication Rate	/ 10.0 CR
Technology Transparency Rate	/ 10.0 TTR
Development Participation Rate	/ 10.0 DPR
Listing Status on the World's Top 10 Exchanges	Listed on 0 Exchanges
Number of Available Pairs Worldwide	1 Pairs
Market Cap of the Cryptocurrency	6,683,329 USD (Rank #1295)

The table above shows the result of investment suitability evaluation for Core Network.
Check out how we evaluate cryptocurrencies on the crypto rating description page.

Core Network Price

Here are the price and recent trading volume of Core Network. (Data of 2024-10-03 00:15:00)

Price Items	Price and Trading Volume of Core Network
Core Network Price	0.000 USD
Price Change 24h	-5.48%
Price Change 7d	-4.99%
Trading Volume 24h	11 USD
Trading Volume Change 24h	-82.47%

Cryptocurrency Metadata

You can check the development status and social media information of Core Network through the links in the table below.

Metadata Source	URL
🌎 Official Website
📖 White Paper
🛰️ Source Code (GitHub)
🐦 Twitter
🤖 Reddit
🎺 Message Board

Where to Buy Core Network

Here are the top ten world crypto exchanges where traders can buy Core Network in 2024.

Top10 Exchanges	Listed Status	Page URL
Binance	Not listed
Coinbase	Not listed
Kraken	Not listed
KuCoin	Not listed
Bitfinex	Not listed
OKX	Not listed
Huobi	Not listed
Bitstamp	Not listed
Bybit	Not listed
Gate.io	Not listed

Frequently Asked Questions