Introduction : CORE DAO

The Core network Blockchain (Core Chain) which is a Bitcoin-powered, Bitcoin-aligned EVM – compatible  layer one blockchain.

The most significant innovation of Core Network Chain is a new consensus mechanism that combines Delegated Proof of Work (DPoW) and Delegated Proof of Stake (DPoS) called Satoshi Plus.

Core Network :

By combining these two, Core network Chain incorporates Bitcoin miners to ensure the safety of Turing-complete smart contracts.

It also that unlocks the potential and value of these miners, beyond the basic maintaining of the Bitcoin ledger, and supplies their users with purely supplementary income through Core tokens that reward users.

This synergy works to enhance the security of Bitcoin without using up Bitcoin block space, or taking away from miners’ main duty of defending Bitcoin. Bitcoin network.

It is said that the Bitcoin network is renowned for its resistance to centralization and attacks.

This robustness is due in large part to the efforts of Bitcoin miners and the rewards which guide them in turning tangible energy into gold.

Anyone can validate the Bitcoin blockchain, put together candidate blocks, and compete to solve a dynamic, energy-intensive, and constantly-changing cryptographic puzzle from anywhere in the world.

This method, also known by the name Proof of Work, is the most secure consensus mechanism for blockchain not only due to its complex cryptographic nature however (more important) due to its built-in economic flywheel.

Although the computational difficulty of PoW can fluctuate but the mainstay of the security of the network is the revenues earned from mining operations. In order for the system to stay secure, miners must be given sufficient compensation for their efforts.

The Bitcoin network addresses this issue by paying out rewards to miners who have been honest and successful in their take part in the consensus process of proof of work. process.

Since Bitcoin miners earn suitable rewards to cover their expenses They continue to protect the network by investing their energy by proving their work.

So, the more lucrative Bitcoin mining is and the higher amount of power (money) mining miners will be prepared to invest and the more economically hard it becomes to strike to attack Bitcoin Network.

It’s also important to recognize that the Bitcoin architecture has deliberately-designed limitations, resulting in the way it is a system of safety and decentralization.

While they have significant effects on the efficiency, it’s vital to keep in mind that they’re not flaws with the design of Bitcoin’s protocol. Bitcoin has gained its popularity not because of these limitations.

Knowing the ways in which it is that the Core network is attempting to enhance and complement the Bitcoin ecosystem requires an in-depth analysis of the limitations of Bitcoin particularly those pertaining to block size and throughput.

Limitations in Bitcoin’s Scalability and Performance:

Bitcoin Block Size & Transaction :

The fundamental limitation of Bitcoin is the size of its blocks and the speed of transactions.

The 1MB block size limit, which is a holdover from Bitcoin’s initial design philosophy that prioritized security and decentralization, severely limits the number of transactions that can be processed per Bitcoin block.

This limit outcome in a processing rate of just 5 to 7 BTC each second.

This is which is not satisfying sufficient to satisfy the needs of modern financial applications or those which require greater volumes of transactions.

Bitcoin’s Confirmation Delays :

In addition to the problem of a low throughput is the inherent lag in the confirmation of transactions made by Bitcoin.

Bitcoin’s protocol requires a block time that is around 10 minutes.

This time period, which improves the security of Bitcoin’s network through proof-of-work consensus, can also cause significant delays in the process of settling BTC transactions.

In an age where instantaneity is becoming more sought-after this delay is an obstacle for Bitcoin’s use in a variety of instances.

Limitations in Bitcoin’s Scripting and Computation :

Bitcoin’s Lack of Turing Completeness :

One of the major weaknesses in Bitcoin’s scripting language is the absence of Turing fullness. In contrast to more flexible blockchain platforms Bitcoin’s scripts can’t do complex computations or perform a greater scope of functions.

This restriction limits the potential of smart contracts and applications that are decentralized which can be built using Bitcoin. Bitcoin blockchain.

Limitations in Bitcoin’s Ability to Support Smart Contract and Application Development:

Bitcoin’s Lack of Native Smart Contract Language :

In contrast to blockchain platforms such as Ethereum and Xerox, which have specific smart contract languages like Solidity, Bitcoin lacks a native language specifically designed for the creation of smart contracts.

Its scripting language is used primarily for transaction validation, which limits the capabilities of the network to transactions.

Bitcoin’s Restricted Development Ecosystem :

The development community that surrounds Bitcoin is more centered on enhancing financial transactions as well as keeping security robust.

This has resulted in less of a diverse and flexible Bitcoin developers’ community particularly when compared with platforms specifically designed for decentralized applications and smart contracts.

Limitations resulting from the Bitcoin’s Network Rigidity as well Conservatism :

Bitcoin’s Lack of Upgradeability and Flexibility :

The rigors of Bitcoin’s initial design and protocol means that it is less flexible when adapting to new technologies and features.

This rigidity helps preserve Bitcoin’s Bitcoin network’s stability and gains the trust of its users, but it renders it less able to keep pace with the new technological advances that are required to build sophisticated smart contracts as well as other types of applications.

Limitations in Bitcoin’s Interoperability and External Communication :

Bitcoin’s Lack of Interoperability :

Bitcoin is primarily an isolated blockchain with only a limited interoperability.

This makes it difficult to seamlessly connect to other systems of blockchain. This is a crucial requirement for many of the advanced applications that benefit from synergies across chains.

Bitcoin’s Restricted Communication APIs that are external to Bitcoin :

In the ever-changing world that is smart contract technology, having the capability to communicate with data sources outside of the Bitcoin ecosystem and APIs (APIs) is vital.

Bitcoin’s platform is not able to support native oracles and direct communication with other systems.

This limits Bitcoin’s capability for dynamic interactions with real-world data, which is a characteristic that is increasingly crucial in Decentralized Finance (DeFi) applications and supply chain management and other applications that require a sophisticated blockchain.

Various efforts have been made to expand the usage of blockchain technology beyond Bitcoin by addressing its deliberate limitations.

These initiatives include creating new blockchain networks and Bitcoin scaling solutions, each with different design choices.

However, all these efforts face a common challenge known as the “Blockchain Trilemma,” which refers to the difficulty in balancing the three critical properties of blockchain, security, decentralization, and scalability.

According to the majority of experts, a blockchain project can possess any two of these properties, but not all three simultaneously.

Alternatives such as Ethereum maximize efficiency and speed of transaction through the integration of intelligent contracts with interoperable capabilities, efficient consensus mechanisms, etc.

One example of a significant change in the blockchain technology has been in the introduction to Proof of Stake (PoS) that replaces miners who expend real-world energy with stake holders who post securities as collateral.

Although PoS is a great technology, it has its own operational and technical issues (staking techniques have resulted in some degree of centralization, as an instance).

Additionally they have rejected any chance of benefiting from Bitcoin’s peerless decentralization and security, by cutting off all ties to the consensus model.

 

The blockchains which have connections to Bitcoin are not without flaws resulting due to a large dependence on Bitcoin’s less adaptable infrastructure, the absence of Turing totality in their designs and a lack of ability to fully exploit features that facilitate blockchain interoperability and more.

Furthermore some of these protocols aren’t connected to Bitcoin’s Bitcoin network, providing only a tiny amount of benefit for Bitcoin but failing to improve it’s security or decentralization.

 

Despite these issues however, the rise of new phenomena such as Ordinals or the standard BRC-20 for tokens demonstrate an increasing demand for the expansion of the use-cases that are secured by Bitcoin.

With Bitcoin’s status as the most reliable source of protection that is decentralized and security, expanding its reach could be extremely beneficial.

Bitcoin can also gain from the halving plan continuing to decrease blocks’ subsidies every four years, the issue of remuneration for miners for protecting the network will become more vital.

Core Chain was the blockchain that was created as a response to the above problems. It was created with a variety of purposes in mind, among them:

Maintaining a sustainable EVM – compatible smart contract platform with a method that protects integrity of the network as well as decentralization that is comparable to Bitcoin’s.

Relying upon Bitcoin miners, the backbone of Bitcoin to ensure security and decentralization during the process of consensus.

Affiliating in the Bitcoin network, Bitcoin provides Bitcoin miners with ever-growing benefits, while also costing Bitcoin miners nearly nothing in extra costs.

The expansion of Bitcoin mining governance, security and protection for EVM – compatible smart contracts.

Transforming Bitcoin from a passive network to protect the assets of a passive owner into an active enabler of numerous uses that can be used with the BTC asset, as well as other forms of digital property while simultaneously enhancing its core function.

The heart of this project is Core Chain’s unique Satoshi Plus consensus mechanism.

Its two primary components are the pioneering Delegated Proof of Work (DPoW) technique that utilizes the power of hashing Bitcoin miners and Delegated Proof of Stake (DPoS) which is well acknowledged in all of the blockchain world.

Together, they enable the ability to manage a scalable smart contract platform that meets the above objectives.

The remainder of this article will favor an overview of the technical aspects that will help in providing a technical overview of Core Network.

The paper begins by examining Core Network Chain’s principles of design and philosophy, and places it in the broader context of blockchain protocol.

The next step is a breakdown of Core’s structure and focuses upon the integration between DPoW as well as DPoS.

The last three sections explore security issues and Core Chain’s tokenomics along with Core Chain’s Governance system and governance structure.

Naming Convention For reasons for clarity, the most common name for the blockchain or smart contract software can be “Core Chain,” which may also be referred to as “Core,” “Core blockchain,” “Core blockchain network,” or “Core network.”

The “Core ecosystem” denotes the broad collection of protocols and applications built upon core chain.

Core DAO is the decentralized autonomous entity that is that is responsible for developing Core DAO, which is responsible for the development of Core Blockchain ecosystem.

The token that is the native currency that is part of that Core blockchain is known by the letters “CORE” or “$CORE” in capital letters to distinguish them from “Core” network.

Delegated Proof of Work :

As mentioned above the validation process is based according to the hybrid score. the score of the hybrid is calculated using both the Delegated Proof of Work (DPoW) and Delegated Proof of Stake (DPoS).

Bitcoin miners create hash power that is used to protect Bitcoin’s Bitcoin network, confirm transactions, and also earn BTC rewards.

In order to spread their payouts in time Bitcoin miners frequently contribute hash power to mining pool which utilize the aggregated is strength to boost the probability of mining the Bitcoin block, and receiving BTC in the return.

If a Bitcoin miner wants to delegate PoW into Core network, Core network they simply add information to the op return fields in the transaction with coin base, indicating the Core validator they would like to delegate to and the location they’d like their CORE rewards to be distributed.

This is done while the Bitcoin block gets processed, which means the miners aren’t faced with an choice between protecting the Bitcoin network and also securing the Core network.

It is believed that the Bitcoin block headers get through Core Chain through Core Chain’s relayers.

Each relayer has an off-chain lighter client (or employs an equivalent existing service) which synchronizes the mining blocks generated from Bitcoin’s Bitcoin mining pool to core network chain.

Core network : In a one-day round it is the Core network determines each validator’s DPoW of each validater based on the amount of blocks that the miners assigned to each validator a week before.

If the round takes place on a Thursday for instance, Core will tabulate the hash power that was delegated to every validator calculating blocks from the previous Thursday.

Delegated Proof of Stake :

In the wake of having completed DPoW , let’s go to the opposite side of the Satoshi Plus agreement, DPoS.

DPoS permits the majority of CORE token owners to participate in the selection of validators assigning those holdings over to the validators.

Since there is only an extremely small minimum stake requirements (of just one token) every CORE token holders have the ability to participate in the management that governs Core. Core network.

CORE token holders may transfer their CORE tokens to specific validators

Principal components, roles, and workflows : Core Network

Validators :  Validators are responsible for creating blocks and verifying transaction transactions in the core network. Anyone can sign up as an Core validator by signing up on the network and securing an refundable CORE token.

Validator election : The set of validators is chosen by a vote, with validators chosen based upon their score in each hybrid round.

The validator in the validator set that hasn’t been jailed or cut is deemed “live”.

To warrant an improved stability of the TPS, live validators are updated each 200 blocks.

This means that if any validators get jailed or slashed, others are able to continue mining blocks just as normal.

Hybrid Score : Each validator that is trying to become a part of the Validator Set receives an hybrid score that is calculated using the DPoW from Bitcoin miners as well as the DPoS from CORE token holders delegating.

The validator set is comprised of the 21 validators that have the highest scores in hybrids.

Bitcoin Miners : Bitcoin miners safeguard the Bitcoin network using PoW and are able to delegate their PoWs to an Core validator by incorporating specific details in the coinbase transactions of blocks while it’s being mined.

This is a non-destructive delegation and means they’re re-using their work already done, and not deciding between protecting Bitcoin as well as securing Core.

Relayers : Relayers transmit Bitcoin Block headers over Core network.

Core network : Anyone can be Relayers by signing up and securing a refundable core network token.

CORE Stakers : All holders of CORE’s native tokens have the ability to guarantee the security of the network by transferring their token holdings to an authenticates.

Verifiers : Verifiers are accountable to report suspicious behavior in the internet.

Verification flags that pass must result in the slashing of a malicious stake or rewards for the validator or in jailing them for life Verifiers receive compensation for this monitoring work in the event that block rewards are disbursed.

Anyone can be verifiers within the Core network.

Round :  A round refers to the time period in which the Core network changes the validation set and gives rewards.

In the present, the term “round” refers to a single day. Each round (i.e. every day) each validator is awarded a hybrid score as well as the validators who have the highest scores in hybrid are selected for the validator set.

The validator set becomes accountable for the production of blocks that are produced on the Core network for the duration of the round.

Once the last block for each round is produced the rewards accumulated for the entire cycle are built and then distributed and the validator set for the following round is also determined.

Slot : Every day is divided into slots and validators from the validator set rotate making one block per slot in a round robin style. The current length of the slot is set to 3 seconds.

In every slot, a validator that is honest creates a block or fails to produce a block (if there are network problems such as eclipse attacks, or network issues).

Epoch : A epoch is the period of time in which the system monitors the status of each validator in order to keep jailed validators out of taking part in consensus-based activities.

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