Core DAOCore DAO
3 min read
View on Medium
Hardening the Core Network
The end of the beginning is almost here. Mainnet is on the horizon.
Post image
Up to this point, patience has been the hidden superpower of Core’s development. In the fast-paced world of blockchain, patience is often the last thing on people’s minds. With the constant buzz of new projects, innovations, and market fluctuations, it can be easy to get caught up in hype and forget about what matters long-term. Rather than speedrunning the blockchain development process, Core embodies the zero compromises ethos that promotes perpetual antifragility and decentralization. Core’s design, audit, partnerships, and upcoming launch have all been designed to create a sustainable future for the Core Network and Web3 as a whole.
Testnet is where patience turned into practice. With over 1.2 million unique addresses, 400k daily active addresses, and 467k daily transactions, Testnet is proof of Core’s early functionality. Already, material use-cases for the Core Network are being developed as partner projects deploy on Testnet (Details coming soon!). Given Core’s uncompromising design process, extensive audits, and early use-case development, projects on Testnet will be able to seamlessly transition to Mainnet, ushering in a new era for Core.
Most importantly, Core’s consensus mechanism, Satoshi Plus, will be fully developed and functional at launch, ready to power Web3’s decentralized future. At its genesis, Core’s delegated proof of stake leg of the consensus mechanism will secure the network with capabilities similar to those of other proof of stake protocols such as Ethereum. Unique to Core, however, the mechanism is also designed and ready from the outset to incorporate delegated hash power from the Bitcoin mining ecosystem without additional cost to Bitcoin miners. Participation from Bitcoin miners will ultimately harden the Core Network by anchoring its consensus in Bitcoin’s decentralization.
Early post-Mainnet efforts will focus on bringing Bitcoin miners onto the network. To incentivize early adoption, early delegators of hash power will qualify for incentive rewards programs. These programs increase the rewards that miners organically receive from delegating their hash power. Details for these plans will be shared at a later time. For now, suffice it to say that early miners delegating hash power to the Core Network will have three avenues for monetization: Incentive rewards, base rewards, and transaction fees (should they choose to run a validator). These early efforts serve to further decentralize the security apparatus of the network and bolster the symbiotic relationship between Bitcoin miners and the Core Network.
When Bitcoin base rewards dry up in 2040, the Core Network will still be there to provide additional rewards to Bitcoin miners. In this way, Core rewards act like a second BTC block subsidy. Combined with extraordinarily lightweight implementation, delegating hash power to the Core Network will be a financially rewarding enterprise for Bitcoin miners. By empowering Bitcoin miners with additional revenue opportunities, Satoshi Plus strengthens both the Core and Bitcoin networks.
As more participants join in securing the Core Network, Satoshi Plus will be solidified as a trusted consensus mechanism for a decentralized and scalable future. For now, the focus is on launching Mainnet. Core believers have been patiently waiting for a fully operational Core blockchain. The wait is almost over.
3 min read
View on Medium
Hardening the Core Network
The end of the beginning is almost here. Mainnet is on the horizon.
Post image
Up to this point, patience has been the hidden superpower of Core’s development. In the fast-paced world of blockchain, patience is often the last thing on people’s minds. With the constant buzz of new projects, innovations, and market fluctuations, it can be easy to get caught up in hype and forget about what matters long-term. Rather than speedrunning the blockchain development process, Core embodies the zero compromises ethos that promotes perpetual antifragility and decentralization. Core’s design, audit, partnerships, and upcoming launch have all been designed to create a sustainable future for the Core Network and Web3 as a whole.
Testnet is where patience turned into practice. With over 1.2 million unique addresses, 400k daily active addresses, and 467k daily transactions, Testnet is proof of Core’s early functionality. Already, material use-cases for the Core Network are being developed as partner projects deploy on Testnet (Details coming soon!). Given Core’s uncompromising design process, extensive audits, and early use-case development, projects on Testnet will be able to seamlessly transition to Mainnet, ushering in a new era for Core.
Most importantly, Core’s consensus mechanism, Satoshi Plus, will be fully developed and functional at launch, ready to power Web3’s decentralized future. At its genesis, Core’s delegated proof of stake leg of the consensus mechanism will secure the network with capabilities similar to those of other proof of stake protocols such as Ethereum. Unique to Core, however, the mechanism is also designed and ready from the outset to incorporate delegated hash power from the Bitcoin mining ecosystem without additional cost to Bitcoin miners. Participation from Bitcoin miners will ultimately harden the Core Network by anchoring its consensus in Bitcoin’s decentralization.
Early post-Mainnet efforts will focus on bringing Bitcoin miners onto the network. To incentivize early adoption, early delegators of hash power will qualify for incentive rewards programs. These programs increase the rewards that miners organically receive from delegating their hash power. Details for these plans will be shared at a later time. For now, suffice it to say that early miners delegating hash power to the Core Network will have three avenues for monetization: Incentive rewards, base rewards, and transaction fees (should they choose to run a validator). These early efforts serve to further decentralize the security apparatus of the network and bolster the symbiotic relationship between Bitcoin miners and the Core Network.
When Bitcoin base rewards dry up in 2040, the Core Network will still be there to provide additional rewards to Bitcoin miners. In this way, Core rewards act like a second BTC block subsidy. Combined with extraordinarily lightweight implementation, delegating hash power to the Core Network will be a financially rewarding enterprise for Bitcoin miners. By empowering Bitcoin miners with additional revenue opportunities, Satoshi Plus strengthens both the Core and Bitcoin networks.
As more participants join in securing the Core Network, Satoshi Plus will be solidified as a trusted consensus mechanism for a decentralized and scalable future. For now, the focus is on launching Mainnet. Core believers have been patiently waiting for a fully operational Core blockchain. The wait is almost over.
Core DAOCore DAO
3 min read
View on Medium
Hardening the Core Network
The end of the beginning is almost here. Mainnet is on the horizon.
Post image
Up to this point, patience has been the hidden superpower of Core’s development. In the fast-paced world of blockchain, patience is often the last thing on people’s minds. With the constant buzz of new projects, innovations, and market fluctuations, it can be easy to get caught up in hype and forget about what matters long-term. Rather than speedrunning the blockchain development process, Core embodies the zero compromises ethos that promotes perpetual antifragility and decentralization. Core’s design, audit, partnerships, and upcoming launch have all been designed to create a sustainable future for the Core Network and Web3 as a whole.
Testnet is where patience turned into practice. With over 1.2 million unique addresses, 400k daily active addresses, and 467k daily transactions, Testnet is proof of Core’s early functionality. Already, material use-cases for the Core Network are being developed as partner projects deploy on Testnet (Details coming soon!). Given Core’s uncompromising design process, extensive audits, and early use-case development, projects on Testnet will be able to seamlessly transition to Mainnet, ushering in a new era for Core.
Most importantly, Core’s consensus mechanism, Satoshi Plus, will be fully developed and functional at launch, ready to power Web3’s decentralized future. At its genesis, Core’s delegated proof of stake leg of the consensus mechanism will secure the network with capabilities similar to those of other proof of stake protocols such as Ethereum. Unique to Core, however, the mechanism is also designed and ready from the outset to incorporate delegated hash power from the Bitcoin mining ecosystem without additional cost to Bitcoin miners. Participation from Bitcoin miners will ultimately harden the Core Network by anchoring its consensus in Bitcoin’s decentralization.
Early post-Mainnet efforts will focus on bringing Bitcoin miners onto the network. To incentivize early adoption, early delegators of hash power will qualify for incentive rewards programs. These programs increase the rewards that miners organically receive from delegating their hash power. Details for these plans will be shared at a later time. For now, suffice it to say that early miners delegating hash power to the Core Network will have three avenues for monetization: Incentive rewards, base rewards, and transaction fees (should they choose to run a validator). These early efforts serve to further decentralize the security apparatus of the network and bolster the symbiotic relationship between Bitcoin miners and the Core Network.
When Bitcoin base rewards dry up in 2040, the Core Network will still be there to provide additional rewards to Bitcoin miners. In this way, Core rewards act like a second BTC block subsidy. Combined with extraordinarily lightweight implementation, delegating hash power to the Core Network will be a financially rewarding enterprise for Bitcoin miners. By empowering Bitcoin miners with additional revenue opportunities, Satoshi Plus strengthens both the Core and Bitcoin networks.
As more participants join in securing the Core Network, Satoshi Plus will be solidified as a trusted consensus mechanism for a decentralized and scalable future. For now, the focus is on launching Mainnet. Core believers have been patiently waiting for a fully operational Core blockchain. The wait is almost over.
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