What is coreDAO and How to Buy Core?

0
628

What is coreDAO?

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, with the goal of providing a high consensus and highly reliable blockchain underlying infrastructure.

Satoshi Plus is a new consensus mechanism designed by Core DAO that is inspired by BTC and ETH and combines the benefits of PoW and DPoS while overcoming their disadvantages. It is expected to be the best solution to the Blockchain triangle Trilemma, with Bitcoin’s arithmetic ensuring decentralization, DPoS and a leadership election mechanism ensuring scalability, and a collaborative maintenance network ensuring security.

CORE DAO’s stipulation of “the sooner you participate, the more you can mine” and the opportunity to get BTC for free drew a large number of users as soon as it was launched. After two years, Core DAO stopped free mining on December 15, 2022. Meanwhile, in December 2022, it launched mobile mining mode, a novel method of airdropping coins to users. To date, 525 million coins have been airdropped to users worldwide for free via this method.

Core DAO announced the main network launch on January 14, 2023, and teased in an official tweet that it would soon CORE circulation. CORE top-ups are already available on several centralized exchanges, including MEXC.

coreDAO-2

 

CORE Tokenomics

CORE is the DAO’s governance token, with a total issuance of 2,100,000,000 pieces, and it is distributed as follows.

39.995% is allocated to node mining to reward miners and other participants for securing the network, with node rewards distributed over an 81-year period.

25.029% of the budget is set aside for community airdrops.

15% is set aside to reward past, present, and future core contributors.

10% is set aside as a reserve to be used later.

DAO receives 9.5% of the funds needed to build the ecosystem.

0.476% is allocated as relayer rewards, and relayers, like nodes, must be compensated for the services they provide to the chain’s security.

After Bitcoin block rewards cease in 2040, the Core DAO network will most likely provide additional rewards for Bitcoin miners. The block rewards will be 3.6% lower each year than the previous year.

Analysis of the Coin’s Functions

CORE’s utilities are as follows:

To pay the Core DAO transaction gas fee.

Staking: Users can earn revenue by staking COREs on the public chain.

Vote on the Core DAO for governance.

Is it a good investment?

Advantages

  1. Satoshi Plus, Core DAO’s consensus mechanism, combines the benefits of PoW and DPoS. It has a good balance of scalability, security, and decentralization, which is expected to help Core DAO overcome the impossible triangle trilemma and usher in a new era in the public chain realm.
  2. The Core DAO is expected to accelerate development by leveraging existing knowledge, technology, and infrastructure, and its mainnet has now been launched. It also fully utilizes Bitcoin’s absolute scarcity model to keep the total number of governance tokens CORE constant at 2.1 billion, significantly resisting inflation.
  3. Core DAO has approximately 11 million registered users, with over 6 million users mined and up to 1.6 million transactions per day. The community’s social media data also performs admirably; its Twitter account has over 1.5 million followers, its Discord channel has up to 161,759 members, and it has garnered significant market attention.

Risk Assessment

Despite the fact that Core DAO has launched its mainnet, the foundation for its ecosystem is still relatively weak. The maturation of its developer ecosystem is critical for it to be the leading public chain and develop in a sustainable manner. CORE DAO’s ecosystem development is currently being monitored. Furthermore, 25% of previously mined coins will be distributed to users as an airdrop within 60 days of CORE’s launch on centralized exchanges, which may cause some market selling pressure. The market’s emerging public chains are attempting to improve the consensus mechanism, and Core DAO has chosen a path with enormous opportunities but fierce competition.

How to buy coreDAO(Core)?

CORE/USDT trading pair will be listed on MEXC exchange on February 8th. Investors can buy CORE on the spot section. Core price trends and Core live price will also be online once CORE begins trading.