Buy Core (CORE)

Core (CORE) is a relatively new but ambitious blockchain project aiming to solve the so-called blockchain trilemma. This trilemma involves the challenge of simultaneously achieving a high degree of decentralization, security, and scalability. Many well-known blockchains excel in one or two of these areas but often have to compromise on the third. Core seeks to demonstrate that it is possible to maintain all three pillars at a high level by cleverly leveraging both the strengths of Bitcoin (decentralized security via Proof-of-Work) and the flexibility of modern networks like Ethereum and other Proof-of-Stake systems.

The Core project is developed as a layer 1 blockchain and is compatible with the Ethereum Virtual Machine (EVM). This allows developers who already have experience with Ethereum and have built smart contracts or decentralized applications (dApps) to relatively easily transition or expand to Core. Core is thus aimed at developers looking for a platform that is both user-friendly and future-proof.

The foundation of the protocol is the Satoshi Plus consensus mechanism. This system combines Bitcoin hash power (from Proof-of-Work) with a Delegated Proof-of-Stake (DPoS) model. Bitcoin miners can delegate their hash power to the Core network via so-called "relayers," while stakers with CORE tokens vote for validators that process transactions. This provides an additional layer of security, as the safety largely relies on both the computational power of the Bitcoin network and the commitment of CORE token holders.

The native token of the Core network is simply called CORE. This token is used, among other things, to pay for network transactions, vote on developments, and stake for passive income or participate in network security. The total (maximum) supply is 2.1 billion CORE tokens, reflecting the scarcity of Bitcoin (which has a hard cap of 21 million BTC). However, Core has a larger number of coins available, making it more accessible for more people to acquire and use CORE.

The mainnet launch of Core took place in January 2023, followed shortly by airdrops of CORE tokens to onboard a wide user base. Users responded enthusiastically, partly because the project has strongly focused on community involvement from the start through a Decentralized Autonomous Organization (DAO).

Who founded Core?

Although Core has quickly built a large following, the identity and background of the original founders remain largely unknown. According to official reports, Core DAO (the decentralized body that manages the project) consists of a global team of blockchain experts, developers, and idealists who have joined forces. Core DAO is responsible for the further development of the Satoshi Plus ecosystem and for maintaining the Core blockchain.

Core (CORE) offers various opportunities for both regular users and developers. Below are brief explanations of some key features and use cases:

• Paying for transactions: The CORE token serves as a means of payment for transaction fees on the network. This way, you gain access to the blockchain and can make payments quickly and efficiently.
• Staking and rewards: By staking CORE tokens, you strengthen the network's security and receive rewards in return. This allows you to generate passive income while contributing to the ecosystem's stability.
• Governance via the DAO model: CORE token holders can participate in decision-making on protocol changes and new developments through the Core DAO. This gives you a say in the direction of the project.
• Developing dApps: Since the Core blockchain is EVM-compatible, developers can easily build smart contracts and decentralized applications that operate in a scalable and secure manner.
• Delegated Proof-of-Stake role: Users who do not want or are unable to validate themselves can delegate their tokens to validators active on the network. This way, you indirectly contribute to the security of Core.

Core is designed as a layer 1 blockchain that stands out due to its unique Satoshi Plus consensus mechanism. This mechanism combines the computational power of Bitcoin’s Proof-of-Work (PoW) with a Delegated Proof-of-Stake (DPoS) model, which is also used by Ethereum (after the transition to PoS) and various other blockchains. The idea is that Bitcoin miners can delegate their hash power to Core, thereby increasing the security of the Core network. At the same time, CORE token holders can stake their tokens and vote for validators, who are responsible for validating transactions and creating new blocks.

This hybrid method ensures that transactions are validated in a decentralized manner, while scalability is higher than in systems that rely solely on Proof-of-Work. Additionally, the participation threshold is lower because you don't need to have massive amounts of hash power yourself, but can participate via DPoS.

Validators, delegators, and verifiers

Within the Core blockchain, different roles serve a specific function:

Validators are nodes that verify transactions and create new blocks. They are chosen based on their stake and the delegated Bitcoin hash power.

Delegators are users who own CORE tokens but do not want to set up their own validator. They delegate their tokens to an existing validator and share in the rewards.

BTC miners provide hash power to the Core network via 'relayers'. This allows the network's security to be linked to the power of Bitcoin.

Verifiers oversee the blockchain and signal any malicious validators. In case of misconduct, a validator can be penalized through slashing (reducing a portion of the stake) or by exclusion.

Blocks, rounds, and epochs

The Core network operates with so-called "rounds" and "slots." A round is a time period of one day during which the top validators are granted the right to produce blocks. Each round is divided into slots of approximately three seconds, during which a validator can create or skip a block. The network regularly checks the status of validators to ensure that only active and reliable parties create blocks. This keeps the throughput, expressed in transactions per second (TPS), stable and manages the network efficiently.

EVM compatibility and smart contract functionality

Since Core is EVM-compatible, existing Ethereum projects and developers can directly use their familiar tools and programming languages (such as Solidity) to develop new dApps. This accelerates adoption because there is no need to learn an entirely new infrastructure or language.

CORE is the native token of the Core blockchain. With a maximum supply of 2.1 billion CORE, a relative scarcity reminiscent of Bitcoin was deliberately chosen, but with a larger total number of tokens to engage a broader user base. An important technical aspect is that the blockchain is designed from the start to allow a portion of the tokens to be burned, a decision that can be made by the Core DAO.

CORE tokens are used to pay transaction fees, vote on governance proposals, and reward validators and other active participants in the network. The distribution is divided into six categories: 39.995% for node mining, 25.029% for Core users, 15% for project contributors, 10% as a reserve, 9.5% for the treasury, and 0.476% as a fee for relayers. This structure encourages both long-term and short-term participation, as miners and stakers receive rewards for up to 81 years. Additionally, developers can earn extra CORE tokens through so-called S-Prize rewards, which are granted for launching valuable decentralized applications (dApps) on the Core network.

Core distinguishes itself through a number of innovative and bold choices in the design of its blockchain. Below are five features that make this project truly unique.

• Satoshi Plus consensus mechanism: This hybrid model combines the hash power of the Bitcoin blockchain with Delegated Proof-of-Stake, allowing Core to benefit from both the security of Bitcoin and the efficiency and scalability of DPoS.
• EVM compatibility with BTC support: Developers familiar with Ethereum can seamlessly transition to Core. At the same time, the integration with Bitcoin’s hash power adds an extra layer of security.
• DAO-driven decision-making: The Core DAO is responsible for upgrades and setting transaction fees, which increases transparency and ensures that the community has a say in the future of Core.
• S-Prize for developers: Those who launch innovative applications receive additional CORE tokens. This actively encourages the development of new dApps and smart contracts.

At Bitvavo, you can purchase Core (CORE). Our platform is suitable for both new and experienced traders. Follow these steps to buy CORE tokens via the Bitvavo website or app:

1. Create an account or log in with your existing Bitvavo credentials.
2. Click "Deposit" and choose your preferred payment method to add euros to your account.
3. Go to the Core (CORE) purchase page.
4. Enter the amount in euros or decide how many CORE tokens you want to purchase and press "Buy now".

Keen to securely store your Core tokens? In your Bitvavo account, you can rely on a high level of security because the majority of customer funds are held in so-called cold storage. Although strict security measures are in place, it is wise to activate two-factor authentication (2FA) so that an extra verification step is required in addition to your password.

In addition, both software and hardware wallets support the storage of CORE. If you want to move your tokens to an external wallet, it is advisable to verify the address within your Bitvavo account first and then easily transfer your CORE tokens to your own wallet. This approach allows you to retain full control over your digital assets while benefiting from the flexibility and user-friendliness of Bitvavo.