For the past a few weeks, we’ve been obsessed with CoreDAO. CoreDAO is a hot new project that has recently gained a lot of attention. What is the appeal of CoreDAO? What are the benefits of purchasing or investing in CoreDAO? Let us investigate in this article.
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.
Five Reasons for CoreDAO’s Popularity
1. CoreDAO Is Trying to Solve the Blockchain Trilemma
Satoshi Plus is a new consensus mechanism created by Core DAO. This consensus is inspired by the core of BTC and ETH, which combines the benefits of PoW and DPoS while overcoming their disadvantages. The community currently believes that Satoshi Plus Consensus will be the best solution to the Blockchain Triangle Trilemma.
It includes Bitcoin’s arithmetic to ensure decentralization, DPoS, and a scalability-ensuring leadership election mechanism. It also includes a collaborative maintenance network to ensure security. Furthermore, despite only being live for a month, their mainnet was already handling over 142k transactions. This represents public acceptance as well as future potential.
2. CoreDAO has 11,000,000 registered users.
Here is solid proof for those who did not believe in CoreDAO. Core DAO currently has around 11 million registered users. It also has 6 million mined users and up to 1.6 million daily transactions. The social media data from the community also performs admirably. Its Twitter account currently has over 1.5 million followers, and its Discord channel has up to 161,759 members.
The Core community is rapidly expanding, and this is not a coincidence. CoreDao also intends to include the NFT community. There are already several NFT launchpads and exciting NFT projects in the works. This will result in a diverse community portfolio.
3. A CoreDAO airdrop is on the way.
CoreDAO is putting on a special airdrop for the community. Users do not need any specialized hardware. You also don’t have to go to any real-world events to get it. On February 8, 2023, the CORE airdrop will distribute 25.03% of Core’s total token supply to the community. Meanwhile, the remaining balance will be gradually unlocked over the course of two years.
Furthermore, CoreDAO did not accept any outside investment. That is, there were no early token sales or investors profiting from contributors’ efforts. Instead, everyone was working hard to reach a better consensus. With the novel consensus mechanism, they make no concessions to decentralization, security, or scalability.
4. The core stake is Possible
Another important feature of Core is token staking. It is also a very appealing feature that has piqued the interest of the community in the CoreDAO project. DPoS is used in the Satoshi Plus consensus. In other words, users can temporarily lock their tokens in a smart contract while a new block is validated.
Token staking is both a scalable method of mining new blocks and a way to earn passive income. Furthermore, users who stake their tokens will be compensated by the protocol. Staking also has the advantage of frequently lowering token volatility. Coin prices are less likely to fluctuate when there are fewer tokens available for short-term trades.
5. Major CEX such as MEXC is Listing CoreDAO
CoreDAO has been very successful as a new project in creating a project that will innovate society. Indeed, major exchanges are gearing up to list CORE/USDT in their spot market.
Is CoreDAO Trustworthy?
CoreDAO is, of course, legal! This article contains proof of that. For the next 300+ years, blockchain will be the foundation of humanity’s digital law and order, and CoreDAO will be one of the projects that laid a solid foundation.
Despite the fact that Core DAO has launched its mainnet, the ecosystem’s foundation remains relatively weak. Its developer ecosystem must mature in order for it to be the leading public chain and grow in a sustainable manner. The ecosystem development of CORE DAO is currently being tracked. Furthermore, within 60 days of CORE’s launch on centralized exchanges, 25% of previously mined coins will be distributed to users as an airdrop, which may cause some market selling pressure. Emerging public chains in the market are attempting to improve the consensus mechanism, and Core DAO has chosen a path with enormous potential but fierce competition.