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Why Core DAO

Core Chain represents a groundbreaking shift in decentralized governance, merging together the decentralization and security of Bitcoin with the flexibility of EVM smart contracts to create a truly democratic and scalable ecosystem. Its innovative Satoshi Plus consensus mechanism offers a unique blend of security and participatory governance, inviting a broad spectrum of stakeholders to shape its future. By enabling on-chain and off-chain governance mechanisms, Core Chain is paving a progressive path towards a fully decentralized network. This approach not only safeguards the network but also aligns with the ethos of blockchain technology鈥攄ecentralization, transparency, and community empowerment.

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Core Chain is a decentralized, secure, and scalable blockchain network backed by Bitcoin鈥檚 PoW. Some of the major characteristics that sets it apart from its competitors are as follows:

  • Bitcoin-aligned: Core Chain is designed to unlock Bitcoin's protection by enabling Bitcoin miners to delegate their security to an EVM-compatible smart contract platform and subsidize Bitcoin mining by providing CORE token rewards to Bitcoin miners that require no added expense or opportunity cost. While Bitcoin serves as the defender of a perfectly scarce, passive monetary asset, Core Chain is designed to be the decentralized rails upon which digital assets, like Bitcoin, gain substantial utility. Furthermore, Core Chain offers a risk-free rate to BTC Stakers who are rewarded financially in the Core Chain ecosystem in return for staking their BTC. These rewards can be in the form of block rewards through delegations or staking awards through staking BTC onto Core Chain. Currently, 50% of Bitcoin mining hash power and through the ground-breaking innovation of Non-Custodial Bitcoin staking $200M is already contributing to Core Chain's security model.

  • Decentralized: Core Chain鈥檚 decentralization is facilitated through the three-part system by which validators are elected under Satoshi Plus consensus. On the one hand, Bitcoin miners can vote for validators by writing data into the coinbase transactions of newly-mined Bitcoin blocks (DPoW). On the other, CORE token holders can vote for validators by delegating CORE tokens to them (DPoS). Because Bitcoin hash power and CORE tokens are highly distributed, both the DPoW and DPoS aspects of Satoshi Plus consensus work together to uphold Core Chain鈥檚 decentralization. BTC Stakers also play an important role in decentralziation of the Core network as well. They aid in validator elections alongside with CORE token holders in DPoS, leveraging Bitcoin's distributed hash power.

  • Secure: Core Chain鈥檚 security rests on several pillars. The most important of these is the Satoshi Plus Consensus Mechanism, which achieves decentralization through a combination of DPoW, DPoS, and Non-Custodial BTC Staking. The combination of these leverages Bitcoin miners, BTC Stakers and Core Stakers to maintain the security of the network. Through the Core Chain鈥檚 security model, the network can thwart consensus attacks through its incentive structures, which feature rewards for participants that identify malicious nodes and mechanisms for punishing those nodes, and it incorporates checkpointing and similar safeguards for preventing other kinds of long-range attacks. To further strengthen its network and avoid any attacks that may rise due to loopholes in the codebase, Core Chain鈥檚 codebase is audited from several top-tier blockchain security firms.

  • Scalable: Core Chain is highly scalable, capable of eventually a large user base of participants, with high transaction throughput and low latency. This is due in part to the fact that DPoS is inherently more scalable than either standard PoS or PoW, and in part to the fact that the network can increase the rate at which blocks are mined by adding many more validators. What鈥檚 more, there will be additional scaling solutions developed on top of the network in the future.

  • Permissionless: Core Chain鈥檚 permissionlessness means anyone can participate in and build on Core Chain, without approval or authorization from any gatekeeping entity. The network鈥檚 decentralization, open-source software, and consensus model are designed to maintain this permissionlessness in perpetuity.

  • Community Governed: Core Chain鈥檚 governance is a blend of immutable and mutable components. The immutable aspects are those that must be kept in place, like the total supply of CORE. Nonetheless, other aspects of on-chain governance would benefit from adaptability. For those, the decentralized autonomous organization responsible for network development, Core Chain, is designed to become progressively more decentralized as on-chain participation grows. All CORE token holders will be able to vote on the adaptations of certain protocol parameters. As stakeholders in the network, BTC Stakers potentially influence Core Chain鈥檚 governance through their economic stake and participation in consensus activities. Their involvement ensures that a broad base of the community, including those invested in Bitcoin, has a say in the evolutionary path of the network's protocols and policies.

  • Interoperable: Core Chain can interface with a wide variety of blockchain projects. Because it is EVM compatible all protocols on Core Chain can interact with one another, Ethereum-based protocols can be ported to Core Chain with relative ease, and cross-chain solutions allow communication across other blockchains. Other than EVM compatibility, Core Chain also offers interoperability with BTC in the form of Non-custodial BTC Staking, where users can stake their BTC onto the Core Chain without having to give up the custody of their assets maintained on the Bitcoin network.

  • Composable: For Core Chain, composability is achieved through support of the popular Solidity smart contract language. Solidity allows developers to create smart contracts that can call functions within other contracts, send CORE tokens to them, and even create new contract instances. This allows for the building of complex interlocking systems of contracts able to facilitate peer-to-peer borrowing and lending, open liquidity pools, trading platforms, live, accurate on-chain data, and much more.