For the first time ever, the Satoshi Plus consensus allows the integration of Proof of Work, Delegated Proof of Stake, and an effective Validator Election Mechanism to combine the fundamental components of the blockchain world in the best possible way.
Over the course of the last ten years, the blockchain sector has learned, advanced, and developed in a way that is nothing short of extraordinary. Reimagining a blockchain with these lessons in mind as if Satoshi had released Bitcoin in 2023 was the aim at Core’s conceptualization. At the heart of Web3, a Turing-complete, EVM-compatible blockchain is now free to function after being gradually hardened by Bitcoin mining hash power.
CORE DAO made the official announcement of the launch of it’s mainnet on Twitter, thus becoming the first to debut mainnet this year.
🚀 Core Mainnet Is Live & Open to Everyone 🚀
More details here → https://t.co/ophxDEXuWu#CoreDAO
— Core DAO 🔶 (@Coredao_Org) January 14, 2023
Core encounters the “chicken or the egg” problem, just like other proof of stake (“PoS”) chains. Without having received token rewards, how can validators post a deposit? And how can tokens be awarded to delegators if they haven’t already given them to the network? In order to tackle this problem head-on, Core’s mainnet launch hasn’t been a single event; rather, it’s been a process to evenly spread network responsibilities, leading to the creation of a set of sustainably decentralized validators in the end.
The mainnet of Core was in the ignition stage over the previous few days. Economic activity was minimal during this initial period. Instead, it was created to start block production and introduce CORE coins into the ecosystem in order to favor decentralization at the launch of Core’s mainnet.
With the aim of solving the PoS “chicken or the egg” conundrum, 15 Genesis Validators have started putting blocks on the chain and earning CORE token rewards. The new, non-Genesis validators received CORE tokens from the Genesis validators so that they could be chosen into the quorum. In accordance with the consensus rules, blocks are now produced by the newly elected quorum of Validators. Satoshi Plus is now a reality thanks to the new Validators’ participation in the network’s launch and consensus process.
The Genesis Validators became DAO Validators when the new Validators were elected into the quorum, and they follow the same procedures as all other validators. A market of validators will probably develop where they compete for delegation as more CORE tokens circulate and more validators go live. Through the Validator Election procedure outlined in the Core White Paper, all Validators will be chosen.
