BRITISH VIRGIN ISLANDS--(BUSINESS WIRE)--Core DAO, a Layer-1 blockchain running on a combined Proof-of-Work and Delegated Proof-of-Stake consensus mechanism known as Satoshi Plus, completed an airdrop to over 1.12 million addresses on February 8, which makes it among the largest token distributions and smart contract usages to date. In a total of more than five million transactions, 28.4 million of CORE has been claimed and over 20 million staked since the airdrop. While some projects have seen the near-immediate “dump” of their tokens after an airdrop, Core’s users are proving they believe in the blockchain’s tremendous utility and long-term value.
Core DAO has already generated an expansive community, with over 1.6 million Twitter followers and almost 215,000 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 Core’s mainnet launch on January 13, Core DAO has announced partnerships with the cross-chain messaging protocol LayerZero and the permissionless oracle protocol Switchboard. Core has also caught the eye of several popular exchanges, including OKX, Huobi, Bybit, MEXC, Gate.io, Poloniex, and Bitmart. Each of these exchanges is listing the CORE token in line 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.”
Core’s airdrop was conducted in partnership with the Satoshi App, an application allowing users to “mine” in-app rewards without requiring payment or exclusive invite-only access. Satoshi App has been instrumental in decentralizing the CORE token supply by helping to get tokens in the hands of the true users of the network. 25% of the CORE token supply is designated for this partnership.
Prior to Core, all previous chains had to make tradeoffs between security, scalability, and decentralization. Sparking much controversy, the seemingly inescapable predicament even earned the name “The Blockchain Trilemma.” Nevertheless, by pulling from the best aspects of Bitcoin’s Proof-of-Work and Delegated Proof-of-Stake, Core DAO’s Satoshi Plus consensus mechanism promises the decentralization and security of Bitcoin with the scalability and composability of Ethereum.
Visit coredao.org for more information.
About Core DAO
Core DAO is a Layer-1 blockchain combining the decentralization and security of Bitcoin with the scalability and utility of Ethereum. Through its Satoshi Plus consensus mechanism, Core DAO integrates the best aspects of Proof of Stake and Proof of Work. The Core DAO is made up of a global group of contributors seeking to promote the growth of Satoshi Plus consensus and the power of blockchain technology to reshape society based on a philosophy of co-creation. Visit coredao.org for more information or to start building today.
