CORE DAO completed an airdrop to more than 1.12 million addresses, making it one of the largest token distributions and smart contract usages to date. The protocol which runs on a Layer-1 blockchain with a combined Proof-of-Work and Delegated Proof-of-Stake consensus mechanism known as Satoshi Plus launched it’s mainnet on January 13th.
28.4 million CORE have been claimed and over 20 million staked since the airdrop in a total of over five million transactions. While some projects have experienced a nearly instant “dump” of their tokens following an airdrop, Core’s users are demonstrating that they have faith in the blockchain’s enormous utility and long-term worth.
“While many others thought decentralization was a distracting impossibility, Core leaned in and designed the most innovative consensus mechanism in years. It’s the perfect synthesis of Bitcoin and Ethereum.”
Core DAO has already generated an expansive community, with over 1.6 million Twitter followers and almost 2,015,000 Discord members.
“With over two million users participating in last week’s airdrop and with 100+ tokens already minted, there’s no doubt that the Core community isn’t just enthusiastic – they’ve been actively building on the utility of this blockchain since day one,” said CJ Reim, an initial contributor at Core DAO.
Reim continued, “The Core blockchain’s design, token distribution, and governance direction are all aimed at empowering user ownership rather than ownership by a centralized group of external investors. In just over a week since this airdrop, the results and reception thus far suggest that our users and community are embracing the tremendous potential of the Core blockchain.”
Following the mainnet launch of Core on January 13, Core DAO has announced agreements with the permissionless oracle technology Switchboard and the cross-chain communications platform LayerZero. Some well-known exchanges, including OKX, Huobi, Bybit, MEXC, Gate.io, Poloniex, and Bitmart have also expressed interest in Core. The CORE token is being listed on each of these exchanges in accordance with the airdrop.
“The Core network is pioneering a new era in Layer-1 functionality with one of the most impressive communities in crypto,” said OKX Director Nelson Wang. “While many others thought decentralization was a distracting impossibility, Core leaned in and designed the most innovative consensus mechanism in years. It’s the perfect synthesis of Bitcoin and Ethereum.”
The Satoshi App, a program that enables users to “mine” in-app rewards without a fee or restricted access, collaborated with Core to carry out its airdrop. In order to get CORE tokens into the hands of the network’s actual users, Satoshi App worked to decentralize the supply of CORE tokens. The supply of CORE tokens is reserved for this cooperation at 25%.
All previous chains had to compromise on security, scalability, and decentralization before Core. The situation that seemed unavoidable caused so much debate that it was given the moniker “The Blockchain Trilemma.” Nevertheless, Core DAO’s Satoshi Plus consensus mechanism promises the decentralization and security of Bitcoin with the scalability and composability of Ethereum by combining the best elements of Bitcoin’s Proof-of-Work and Delegated Proof-of-Stake.
