Core Chain: An Overview
Core is a Layer 1 blockchain that runs on Bitcoin’s security while supporting the Ethereum Virtual Machine. Its signature consensus, Satoshi Plus, merges Delegated Proof of Work and Delegated Proof of Stake to secure and govern the network.
Quick answer
Core is a Layer 1 blockchain that runs on Bitcoin’s security while supporting the Ethereum Virtual Machine. Its signature consensus, Satoshi Plus, merges Delegated Proof of Work and Delegated Proof of Stake to secure and govern the network.
The Core Blockchain (Core Chain) is a Layer 1 network that leverages Bitcoin for security while remaining compatible with the Ethereum Virtual Machine (EVM). Its primary innovation is the Satoshi Plus consensus protocol, which fuses Delegated Proof of Work (DPoW) with Delegated Proof of Stake (DPoS).
Overview
Deployed on January 14th, 2023, Core Chain is a Layer 1 blockchain that uses Bitcoin’s security model and supports EVM-based applications. Its hallmark Satoshi Plus approach combines DPoW and DPoS to confront the blockchain trilemma—balancing decentralization, security, and scalability—by integrating Bitcoin hash power with a DPoS selection layer to improve security, scalability, and decentralization. As the inaugural implementation of Satoshi Plus, Core DAO aims to accelerate Web3 adoption by cultivating network effects.
Core DAO The Core engineering team currently administers the network through the DAO, with intentions to progressively transfer governance to a broader token-holder base. CORE holders are expected to guide and maintain a community aligned with the protocol’s objectives. The DAO outlines three phases of decentralization: Off-chain governance, where proposals pass via a majority of DAO voters; Limited on-chain governance, enabling modifications of fixed parameters through on-chain votes; and ultimately Full on-chain governance.
Technology
Satoshi Plus Satoshi Plus couples Bitcoin miners’ hash power with the Core validator set to coordinate block production between BTC miners and the Core network. Concurrently, the DPoS component allows token holders to vote for validators, enabling participation by smaller holders. Validator selection is determined by a multi-factor formula incorporating PoW and DPoS elements, with the top 21 validators chosen for 200-block terms. Misconduct by validators is addressed through slashing and jailing. Block intervals are set at 10 minutes, mirroring Bitcoin’s timing. Block rewards are split so that 90% go to validators, while the remaining portion is allocated to relayers and verifiers and the System Reward Contract.
CoreScan CoreScan serves as the official block explorer, API, and analytics suite for the CORE blockchain. The platform’s Open APIs are provided to ensure equitable access to Core’s on-chain information, permitting developers to query CoreScan data and services via standard GET and POST requests. These APIs are distributed as a community offering without warranty, allowing users to obtain the data they need without undue restrictions.
Non-Custodial BTC Staking Non-custodial BTC staking is listed among Core’s technology features.
CORE
CORE is the native utility token of the Core network, used for staking and to pay gas fees. The token has a fixed total supply of 2.1 billion and follows a issuance model akin to Bitcoin’s. Similar to Ethereum, a share of block rewards and transaction fees are burned. Emissions are scheduled over 81 years to incentivize Bitcoin miners to delegate hash power to Core when mining rewards are expected to decline around 2040.
Tokenomics CORE had the following allocation:
stCORE Launched in January 2024, stCORE was introduced to broaden CORE’s usability and simplify staking workflows, supplying holders with greater flexibility. While staking CORE contributes to network security, traditional staking often prevents holders from using those tokens in DeFi. Liquidity staking tokens resolve this by unlocking liquidity for staked assets, enabling their participation across DeFi applications. In essence, liquid staking augments the liquidity of staked tokens by building on existing mechanisms.
- Node Mining: 839.9 million CORE tokens (39.995% of total supply), distributed over 81 years;
- Users: 525.6 million CORE tokens (25.029% of total supply), with the first airdrop in February 2023;
- Contributors (Existing and Future): 315 million CORE tokens (15% of total supply);
- Reserves: 210 million CORE tokens (10% of total supply);
- Treasury: 199.5 million CORE tokens (9.5% of total supply);
- Relayer Rewards: 10 million CORE tokens (0.476% of total supply).
Partnerships
XLink On April 29th, 2024, XLink—a Bitcoin bridge developed by ALEX LAB Foundation—went live on Core Chain. XLink offers users streamlined access to a range of DeFi services available on Core Chain.
Pyth Pyth Price Feeds became available on Core on November 14th, 2023, representing a meaningful expansion of infrastructure. By integrating Pyth into Core’s oracle stack, developers can build more advanced protocols and users gain greater assurance in the reliability of applications operating on Core.
Ankr Ankr is noted among Core’s partners.
Frequently Asked Questions
What is Core Chain?
Core is a Layer 1 blockchain that runs on Bitcoin’s security while supporting the Ethereum Virtual Machine. Its signature consensus, Satoshi Plus, merges Delegated Proof of Work and Delegated Proof of Stake to secure and govern the network.
How does Core Chain work?
Core Chain uses a consensus mechanism to validate and finalise transactions. Validators or node operators confirm blocks, and the network's state is updated accordingly. Users interact with Core Chain via wallets that support the network's RPC endpoint.
What DeFi protocols are built on Core Chain?
Core Chain hosts a growing ecosystem of DeFi applications including decentralised exchanges (DEXs), lending protocols, yield aggregators, liquid staking solutions, and stablecoins. The total value locked across these protocols can be tracked on DeFiLlama's Core Chain chain page.
How do I bridge assets to Core Chain?
Assets can be bridged to Core Chain via official cross-chain bridges or third-party aggregators such as Stargate, Across Protocol, or Li.Fi. Always use official or audited bridges, verify contract addresses independently, and start with a small test transfer before moving larger amounts.
What is the native token of Core Chain?
Core Chain has a native token used to pay transaction gas fees and, in many cases, participate in network governance or staking. Check the official Core Chain documentation for the current token ticker, total supply, and staking yield.
What are transaction fees like on Core Chain?
Transaction costs on Core Chain depend on network congestion and the complexity of the operation. Layer-2 networks typically offer significantly lower fees than Ethereum mainnet. Current gas prices can be checked via the network's block explorer or a gas tracker tool.
Is Core Chain compatible with Ethereum?
Core Chain has its own architecture and may offer Ethereum compatibility via an EVM-compatible execution environment. Check the official documentation for details on cross-chain interoperability and supported standards.
How fast is Core Chain?
Core Chain is designed to process transactions quickly, with block times and throughput significantly higher than Ethereum mainnet for Layer-2 solutions. Performance specifications including transactions per second (TPS) and average finality time are published in the official Core Chain documentation.
What makes Core Chain different from other blockchains?
Core Chain is distinguished by its specific consensus mechanism, virtual machine, developer tooling, and ecosystem focus. Key differentiators may include throughput, fee levels, decentralisation trade-offs, and the maturity of its DeFi ecosystem. Reviewing independent comparisons on DeFiLlama and Messari provides objective data.
How do I get started with Core Chain?
To begin using Core Chain, install a compatible wallet (MetaMask works for EVM-compatible chains), add the Core Chain network via its official RPC settings, and acquire the native token for gas. Most networks have a dedicated faucet for test tokens on their testnet. Visit the official Core Chain website for a step-by-step onboarding guide.