- Summary:
- Core has built a consensus mechanism that solves the "blockchain trilemma", by optimising decentralisation, security and scalability.
Core Blockchain, an innovative layer one blockchain Core is breaking new ground in the cryptocurrency field by combining the best features of Bitcoin and Ethereum to create a workable answer to the “Blockchain Trilemma.” According to the “Blockchain Trilemma,” decentralisation, security, and scalability are mutually exclusive goals. However, Core is disproving this notion.
Core, a student of the blockchain’s past, present, and future, strikes a fine balance between decentralisation, security, and scalability. By combining the decentralisation and security of Bitcoin’s Proof of Work (PoW) with the scalability of Delegated Proof of Stake (DPoS), the Core DAO contributors have created a revolutionary consensus mechanism known as Satoshi Plus.
Satoshi Plus and Core’s resolve to “blockchain trilemma”
Satoshi Plus allows Bitcoin miners and CORE token holders to contribute to the safety of the Bitcoin network as a single unit. To do this, they stake their CORE and distribute their Bitcoin hash power to a network of independent validators. Due to the distributed nature of Bitcoin and the scalability of DPoS, validators on Core can efficiently and reliably build blocks and validate transactions.
Also, as Core is EVM-compatible, smart contract applications built on Ethereum-based chains can be easily integrated. According to Core, the decision to make their platform EVM-compatible was informed by exhaustive research on the benefits and drawbacks of competing blockchains. Core says that it is able to represent the spirit of blockchain ideology based on decentralisation and freedom thanks to this student mentality.
The blockchain has attracted a dedicated and rapidly expanding user base due to its innovative approach to overcoming the blockchain industry’s most intractable problems. It presently has over 239,000 users on Discord and over 1.7 million Twitter followers.
In addition, the number of people using Core’s blockchain has increased dramatically. One of the greatest smart contract interactions ever occurred with the recent CORE token airdrop, which was received by over 1.2 million individuals. In addition, Core has recently integrated with major projects like Layer Zero to increase its exposure and foster the growth of the surrounding ecosystem.
Core is poised to disrupt the blockchain industry as a result of its top-tier developers, rapidly expanding user base and innovative consensus mechanism. Core DAO participants are also rapidly gaining acclaim as industry leaders.