Before we begin, we should understand what is CoreDAO. CoreDAO or CORE is a new independent blockchain that promotes true decentralization. It is a scalable, secure, and decentralized blockchain for everyone. It is the first Turing-complete blockchain based on the Satoshi Plus consensus mechanism.
Here are reasons five reasons why CORE DAO is very popular:
1. CoreDAO Aims to Solve the Blockchain Trilemma
Core DAO creates a brand-new consensus mechanism called Satoshi Plus. This consensus is driven by the fundamental ideas behind BTC and ETH, which aim to combine the advantages of PoW and DPoS while minimizing their drawbacks. The community currently believes that Satoshi Plus Consensus will be the most effective way to solve the Blockchain triangle Trilemma.
It includes DPoS, a leadership election system, and Bitcoin’s mathematics to guarantee decentralization. It also has a network for cooperative maintenance that guarantees security. Furthermore, even after less than a month since its introduction, its mainnet was already handling more than 142k transactions. This represents widespread acceptance and possibility for the future.
2. Another significant component of Core is token staking
It is also a very alluring characteristic that sparked interest in the CoreDAO initiative among the public. DPoS is used in the Satoshi Plus consensus. In other words, while validating a new block, users can temporarily lock their tokens in a smart contract.
A scalable way to mine new blocks and generate passive income is through token staking. Users that stake their tokens will also receive compensation from the protocol. Staking also has the benefit of often lowering token volatility. Coin prices are less likely to vary when there are fewer tokens available for short-term trades.
3. CoreDAO is listed on major CEX like MEXC
CoreDAO is a new initiative that has had great success in developing a project that would advance society. Large exchanges are actually getting ready to list CORE/USDT on their spot market.
4. CORE DAO Airdrop to reward community
A special airdrop event has been planned by CoreDAO for the neighborhood. Users don’t need any specialized equipment. Additionally, you are not need to participate in any actual activities in order to obtain it. On February 8, 2023, the community will receive 25.03% of the total supply of Core tokens in a CORE airdrop. The remaining sum will be gradually released over the course of two years.
Furthermore, CoreDAO did not take any investments from outside sources. There were no early token sales and no free-riding by investors on the labor of contributors. Instead, everyone was putting forth a lot of effort to reach a better understanding. With the new consensus mechanism, they do not sacrifice scalability, security, or decentralization.
5. CoreDAO has 11 Million Registered Users
Here is convincing evidence for people who did not believe in CoreDAO. Approximately 11 million users have signed up for Core DAO as of this writing. Additionally, it mines up to 1.6 million transactions daily and has 6 million registered users. The social media data for the area also performs well. It currently has 161,759 members in its Discord channel and over 1.5 million followers on Twitter.
The Core community is expanding swiftly, and this is not a coincidence. Additionally, CoreDao intends to involve the NFT community. Many NFT launchpads have already been established, and some interesting NFT projects are about to get underway. A varied portfolio of communities will result from this. Brendon, a CoreDAO contributor, even hinted that the community might be in for an NFT surprise.
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