Overview:
An outstanding characteristic of core blockchain is its compatibility with centralized environment making it as the pioneering network of its kind to exhibit such adaptability. The inter connectivity extends not only to other blockchains systems but also to centralized environments and cloud platforms.
Key Takeaways:
What sets core blockchain apart and makes it significantly distinct from other blockchains is its utilization of Edward’s Curve ED448 Goldilocks encryption method.
-An interesting feature of the blockchain is its programming which is projected execute transaction at speed of 10000 TPS.
-Core blockchain leverages oracles adhering to ISO standard, specifically supporting SWIFT messages. This feature helps to bridge the gap between cryptocurrency and tradfi.
-Another standout characteristics of core blockchain is its compatibility with centralized environment.
-core blockchain employs an advanced proof -of work mechanism known as Proof of Distributed Efficiency(PODE) to facilitate the mining of its native currency, Core coin(XCB).
-Core is a layer 1 blockchain that hopes to solve bitcoin Trilemma.
CORE PROOF-OF- WORK MECHANISM.
The core blockchain has a unique proof-of- work mechanism called Proof of Distributed Efficiency(PODE). This mechanism involves earning new coins by demonstrating one’s investment of time and computational power in solving blocks. This unique PODE algorithm has a remarkable cost effectiveness and environmental friendly attributes.Core blockchain introduces a paradigm shift in the normal way of bitcoin mining using ASIC. What core blockchain does is enabling mining on small internet of things (IOT) devices. The PODE has a competitive advantage, it harnesses IOT devices to mine core coins, utilizing resources derived from sources like waste and solar energy batteries or power banks. This means that mining can be performed on variety of devices, including mobile phones, laptops and even smart refrigerators, owning to the algorithm minimal power requirement. Core blockchain therefore offers an accessible, eco friendly and cost-effective approach to cryptocurrency mining.
Image credit from docs.coredao.org
TOKEN UTILITY
Core tokens has many function it does in core network
-Transaction fees: Users pay for transactions and smart contract execution using Core tokens.-Staking: core allows to stake both bitcoin and core network.
Governance participation: Token holders has the right to vote on governance of the core blockchain that will help shape the future of network.
MARKET SUPPLY OF CORE
The current market cap of CORE is $716.11m. A high market capitalization implies that the asset is highly valued by the market.
What is the current price of CORE? The price of 1 CORE currently cost $0.78.
How many CORE are there?The current circulating supply of CORE is 918.98m. This is the total amount of the CORE that is available.
What is the relative popularity of the CORE? The Core currently ranks 103 among all known cryptocurrency assets.
BENEFITS OF USING CORE BLOCKCHAIN:
Decentralization: Core blockchain provides a reliable, secure and universally accessible distributed platform for all network decisions.
Security: Core blockchain provides maximum security for transactions going on the chain using the Edward 448 encryption.
Interoperability: This blockchain provides easy access to connect diverse financial system seamlessly with oracles and smart contracts.
Coverage: Core has a border less network easily accessible to anyone around the world.
Trustworthy: Core blockchain has an immutable blockchain transactions where integrity is defined by data being securely stored in tamper-proof p2p ledgers.
Swarm intelligence:Core has a well self organized nodes that optimizes data transaction and authenticity that promotes efficiency and reliability.
Final thoughts: Core blockchain was created to sustainably govern a scalable EVM compatible smart contract platform and aligning with the Bitcoin network by providing Bitcoin miners with supplemental rewards.