Core Dao Mainet is live
With mainnet’s launch, the decentralization, soundness, and security of Bitcoin can finally meet the scalability, interoperability, and composability of Ethereum.
this article was quoted by coredao on the medium page you can also read this article at this link https://medium.com. The learning, progress, and development in the blockchain industry over the last decade plus has been amazing. The goal of the Core idea is to reimagine the blockchain with that learning in mind as if Satoshi launched Bitcoin in 2023. Now, the Turing-complete, EVM-compatible blockchain is progressively hardened by the hash power of Bitcoin mining free to operate on the Web3 core.
Like other proof of stake (“PoS”) chains, Core faces a “chicken or the egg” problem. How can validators post a deposit without already having been rewarded tokens? And how can delegators be rewarded tokens without first delegating to the network? Addressing this dilemma head on, Core's mainnet launch has not been a singular moment, but rather a process to broadly distribute network responsibilities to ultimately result in a sustainably decentralized set of validators.
Over the past few days, Core's mainnet was in the ignition phase. This preliminary period did not involve much economic activity. Rather, it was designed for kicking off block production and introducing CORE tokens into the ecosystem so as to prioritize decentralization at Core's mainnet launch.
Specifically designed to address the PoS “chicken or the egg” dilemma, ~15 Genesis Validators began adding blocks to the chain a few days ago, accruing CORE token rewards in the process. The Genesis Validators distributed CORE tokens to new, non-Genesis validators so that these new Validators could be elected into the quorum. This newly elected quorum of Validators now produces blocks in conjunction with the consensus rules. With the new Validators participating in the consensus process and bringing the network live, Satoshi Plus has officially been born!
When the new Validators were elected into the quorum, the Genesis Validators became DAO Validators, which operate under the same rules as all other validators. As additional CORE tokens enter circulation and more validators go live, an economy of Validators will likely emerge competing for delegations. All Validators will be elected via the Validator Election process described in the Core White Paper.