Core DAO Network Unveils Token Updates for Decentralization and Long-Term Viability

The Core DAO Network, a stalwart in decentralized blockchain technology, reaffirms its commitment to community ownership and sustained success with the announcement of two pivotal token updates.

A Core Network spokesperson emphasizes the collective decision-making ethos, stating, “We built this Chain together, reflecting the true spirit of Bitcoin.” From its inception, Core has maintained a decentralized approach, launching directly to the community without investor dominance.

The Network’s impact has been swift and powerful, boasting active developers, a global token holder base in the millions, and an impressive ~40% of all Bitcoin blocks delegated to the network in just a year.

The first token update emphasizes transparency and decentralization by transitioning the responsibility of managing circulating supply data to a community-governed system. This shift ensures equal participation from all Core community members in upholding data integrity.

8/ To that end, the DAO is updating the data feed to be in line with industry standards.

Circulating supply numbers will change, but nothing about the actual supply or how those tokens interact with the Core Network will. The tokens now being counted were already unlocked.

CORE…

— Core DAO 🔶 (@Coredao_Org) December 19, 2023

The second update adopts the ‘unlocked’ token standard, departing from ‘floating’ tokens. This move enhances the clarity of the circulating supply, fostering trust with investors and users while adhering to industry standards.

These token updates underscore Core’s dedication to responsible governance and its unwavering focus on long-term sustainability. By empowering the community and prioritizing data accuracy, the Network establishes a robust foundation for ongoing growth and success.

The Core Network team extends an invitation to users and developers to explore these updates and actively participate in the vibrant community shaping the future of decentralized blockchain technology.

Key Highlights

• Core Network initiates two token updates for heightened transparency and decentralization.

• Updates center on community-governed circulating supply data and the adoption of the ‘unlocked’ token standard.

• Moves showcase Core’s commitment to responsible governance and enduring success.

• The Network welcomes users and developers to contribute to shaping the future of decentralized blockchain technology.

The Core Network team encourages users and developers to actively participate in shaping the trajectory of decentralized blockchain technology. By embracing a collective ethos and promoting inclusivity, Core aims to strengthen its position as a beacon of decentralization, paving the way for a sustainable and community-driven future.

With an expanding ecosystem that has seen rapid adoption by developers and users globally, Core Network’s influence in the blockchain space is undeniable. The decision to shift to a community-governed system for managing circulating supply data not only reflects a commitment to fairness but also invites the diverse perspectives within the Core community to contribute to the network’s integrity. Read More