What Is Core DAO?
Core DAO operates on the Core blockchain, a Layer 1, EVM-compatible platform that supports the Bitcoin network by offering a secondary BTC block reward. The Core blockchain distinguishes itself through its unique Satoshi Plus consensus mechanism—a hybrid of Bitcoin’s Proof-of-Work (PoW) and a delegated Proof-of-Stake (DPoS). This mechanism aims to address the blockchain trilemma, ensuring decentralization, scalability, and security.
Core aims to create a strong and inclusive community within the Web 3 ecosystem, offering various features such as a stake bridge, airdrops, and a mining app to facilitate participation and engagement. The project is focused on building Web3 infrastructure and promoting public chains based on Bitcoin’s Proof-of-Work consensus, boasting over 10 million transactions, 550,000 addresses, and significant social media presence.
Factors Behind CORE’s Exponential Rally
The recent price rally of CORE can be attributed to a confluence of factors, including the anticipation of the Bitcoin halving, scheduled in 20 days, and significant project announcements.
One of the pivotal developments propelling Core’s rise is the soon-to-come launch of non-custodial Bitcoin staking, which is expected to boost the public chain’s TVL and favor a rise in CORE price.1/ coreBTC is live on Core Chain, which means users can trustlessly bridge their BTC to a Bitcoin-secured DeFi experience on Core Chain. — Core DAO 🔶 (@Coredao_Org)Additionally, Core has a 6-month incentive program targeting the BTCfi ecosystem. This program is designed to fuel growth and adoption by rewarding contributions to the ecosystem, particularly in bridging assets and exploring decentralized applications (dApps). The initiative covers assets from various blockchains, including Ethereum, Arbitrum, Optimism, Avalanche, Polygon, and BNB, thereby enhancing participation in Core’s flagship dApps.