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- CoreDAO announced the launch of its mainnet enabling Bitcoin to compete with Ethereum in scalability and interoperability.
- It maximizes security, scalability and decentralization.
Core DAO, the official decentralized organization developing the Satoshi Plus ecosystem, announced the launch of its mainnet, enabling Bitcoin’s decentralization, security and soundness to level with Ethereum’s interoperability, scalability and composability.
CoreDAO: What’s new?
A Turing-complete blockchain that leverages Bitcoin’s mining hash rates and Ethereum Virtual Machine (EVM) and runs Satoshi Plus consensus has allowed the amalgamation of Proof-of-Work (PoW) and Delegated Proof-of-Stake (DPoS) for the first time. The aim is to merge the fundamental elements of the blockchain world to maximize security, scalability and decentralization.
Satoshi’s dream of blockchain
The blockchain sector has advanced greatly in the past decade, with several exciting innovations, insights and developments. Core’s design basics are inspired by Satoshi Nakamoto’s imagination of 2023.
Due to Bitcoin’s mining hash power, a Turing-compliant and EVM-compatible blockchain CoreDAO is ready to be the backbone of Web3.
Post integration scenario
After the integration, the blockchain would be working on cementing the Core network with the mining community of Bitcoin. It would also work on decentralization of the task of safeguarding the network through staking.
Core accepts Bitcoin miners as Satoshi Plus’s “proof of operation” feature and has worked smoothly from the start. New miners will receive a bonus prize with the integration of hash power in the Core system.
92% of Bitcoin is already in circulation, and the whole supply will soon be in the market. As it is evident that there will always be 21 million BTC on the planet, when the supply runs out shortly, BTC miners will still be rewarded.
The goal here is to support BTC miners by giving them rewards. Core has also greatly advanced its guiding concept, and this does not allow any compromise or change in scalability, security and decentralization.
It is a long and boring procedure and takes a lot of dedication to concentrate on core blockchain components; nonetheless, the adventure has just begun with Core’s launch.
Impact on the Crypto industry
Bitcoin is the undisputed market leader of the crypto industry; though Ethereum and many other blockchains have impressive products and projects, none managed to surpass the market leader, yet.
Any efforts to boost cryptocurrency adoption are much required and welcome at present. The whole industry suffered from a lack of trading volume in the year 2022. Core’s news from the Satoshi Plus ecosystem could help bring back the trading volume. If things work out as expected, Bitcoin’s price could boost and help the whole crypto industry.
At the time of writing, Bitcoin was trading at $21,212.29, with a 1.81% jump in 24 hours.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
