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CoreDAO creates DeFi products that are governed by an effective on-chain governance framework

The Blockchain Trilemma has been extensively researched by academics and industry professionals. According to it, all cryptocurrencies, such as Bitcoin, Ethereum, and others, must compromise between the three factors of optimal security, scalability, and decentralization, frequently giving priority to two of them at the expense of the third.

CoreDAO builds DeFi products controlled through a powerful on chain governance system. This is how it works:

  • Holders of tokens can utilize their voting power to manage and make changes to the ecosystem and its goods by leveraging the DAO’s on-chain governance.
  • The CORE ecosystem is managed by the governance token (coreDAO). Holders of coreDAO can directly control all CORE products through chain governance.
  • Users can obtain loans via cLEND, coreDAO’s lending platform, in exchange for a number of different tokens. Holders of the coreDAO can alter the cLEND contract and modify fees and collateral kinds.

What is Core DAO?

CoreDAO is the official decentralized organization developing the Satoshi Plus ecosystem. Proof of Work (PoW) and Delegated Proof of Stake (DPoS) are combined in the Satoshi Plus consensus to take advantage of each technology’s strengths while also addressing its weaknesses. In particular, the DPoS and leadership election methods assure scalability, Bitcoin computing power ensures decentralization, and the entire network maintains security as a whole. The new consensus technique is being used for the first time by Core chain.

Written by T.I Ukende

T.I Ukende is a professional writer and ICT consultant. He has written many evergreen articles for Benuecast blog, classicgist, ellabase and many others before birthing the newsway blog.
Newsway delivers well researched and undiluted information on business, employment opportunities, personal finance and government empowerments.

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