What is Core: EVM compatibility with Bitcoin security

The Core blockchain was designed to expand Bitcoin's capabilities and bolster its scalability by combining Bitcoin’s lauded security with Ethereum’s strong smart contract capabilities. The project adopts Bitcoin’s proven security model through a Satoshi Plus consensus, and supports compatibility with the Ethereum Virtual Machine (EVM) for users wanting to build decentralized apps (DApps). As such, Core merges the key strengths of crypto's two biggest assets for users.

As Bitcoin's capabilities continue to evolve, Core provides another alternative many developers and users are keeping an eye on. Let's look more closely. Throughout this article, we’ll explore how Core’s validator system operates, the critical roles of CORE tokens in governance and staking, and the benefits Core brings in terms of transaction efficiency and scalability.

TL;DR

• Core combines Bitcoin’s security and Ethereum-like smart contracts. Together, these features offer additional features while improving scalability for the Bitcoin network.

• The Satoshi Plus consensus mechanism uses Delegated Proof of Work (DPoW) and Delegated Proof of Stake (DPoS). It combines Bitcoin miners and CORE token holders to secure the network.

• Bitcoin miners earn CORE tokens by delegating hash power to Core, while CORE token holders secure the network by staking.

• Core’s EVM compatibility allows easy migration of Ethereum apps. It supports a wide range of DApps, from finance to gaming.

• CORE token powers the ecosystem. It’s used for fees, staking, and governance. This creates a community-driven, decentralized platform.

What is the Core blockchain?

The Core blockchain has a unique build, aligning closely with Bitcoin while incorporating Ethereum-compatible smart contracts. Core’s mission is to bring scalability and expanded functionality to Bitcoin through the Satoshi Plus consensus mechanism. Core combines Delegated Proof of Work (DPoW) and Delegated Proof of Stake (DPoS), which together secure the network and provide decentralization — essential traits for a reliable blockchain platform.

DPoW allows Bitcoin miners to participate in Core’s consensus process by delegating their hash power, essentially making use of Bitcoin’s energy-efficient infrastructure. Instead of maintaining Bitcoin’s ledger, these miners can now extend their contribution to Core, earning supplemental rewards in CORE tokens without sacrificing the security of Bitcoin. According to the Core DAO white paper, this dual-purpose mining setup allows Core to enhance Bitcoin’s security model by involving its miners directly in the Core ecosystem.

DPoS lets CORE token holders help secure the network by voting for validators. This is similar to what happens on blockchains like Solana. This approach not only distributes voting power among token holders but also makes sure that governance is decentralized and shared among the community.

Core’s system is special because it offers a combination of high security, decentralization, and compatibility with the EVM. This means developers can easily move Ethereum-based applications to Core without making any changes. Through EVM, Core can also host smart contracts and DApps, making it useful for more than just transactions. With this compatibility, Core can attract a wide range of DApps from finance to gaming, bringing the best of both Bitcoin and Ethereum ecosystems together in one platform.

How does Core's Satoshi Plus consensus boost security?

The Satoshi Plus consensus model is at the core of Core’s security, blending the strengths of Bitcoin’s hash power and staking to offer a robust defense against attacks.

Using DPoW and DPoS, the protocol is designed to be safe and decentralized, which is important for a blockchain to attract different applications and communities.

Here’s a breakdown of how Satoshi Plus works and how it bolsters security on the Core blockchain.

Leveraging Bitcoin Hash Power (DPoW)

Bitcoin's Proof of Work is known for its energy-intensive mining and is the industry standard for blockchain security. Core taps into this by enabling Bitcoin miners to delegate their existing hash power to the Core network through DPoW.

This way, Bitcoin’s unmatched security is added to Core without increasing energy costs, as miners don’t need extra resources to help secure Core. Miners earn extra rewards in CORE tokens, creating an incentive to support Core while continuing to uphold Bitcoin’s ledger.

Incorporating Core token staking (DPoS)

With DPoS, Core token holders actively participate in securing the network by staking their tokens and voting for validators.

This mechanism doesn’t just rely on Bitcoin miners but opens security contributions up to a broader community, distributing control while maintaining decentralization. Token holders delegate their CORE tokens to trusted validators who verify transactions and maintain the integrity of the network.

This community-based voting model mirrors the mechanisms seen in blockchains like Solana but with the added layer of Bitcoin-backed security

Multi-layered defense

The combination of DPoW and DPoS enables Core to withstand various types of security threats more effectively. For example:

• 51% attacks become much more challenging, as an attacker would need to control both Bitcoin’s hash power and a significant amount of staked CORE tokens.

• Sybil attacks, where malicious actors try to flood the network with fake identities, are mitigated by the cost-intensive nature of acquiring enough hash power and staked tokens to influence the network.

• Long-range attacks are minimized by Core’s periodic checkpointing, which locks in historical data points that secure the network against reorganization attempts.

What are the benefits of Core compared to Bitcoin and Ethereum?

By now, we know that the Core blockchain combines the strengths of Bitcoin and Ethereum to offer unique benefits in scalability, security, and interoperability. What features set the network apart from those it borrows from?

Scalability

Bitcoin is known for its strong security, but it can only process five to seven transactions per second (TPS), while Ethereum can handle 15-30 TPS.

Core is designed to scale far beyond these limitations by using DPoS, which improves transaction throughput without sacrificing decentralization. Core’s design allows for high-speed transaction processing, making it suitable for applications that need quick and reliable data handling, such as DeFi and gaming.

Interoperability

Core is an EVM-compatible blockchain, meaning it supports Ethereum smart contracts and allows Ethereum-based applications to migrate over with minimal adjustments.

This compatibility enables Core to interact with a broad range of protocols across the Ethereum ecosystem, bringing assets and data from Ethereum into Core and vice versa.

By offering this cross-chain functionality, Core creates a more connected blockchain that’s easier for developers to navigate and for individuals to engage with.

Alignment with Bitcoin’s security model

Another of Core's distinguishing features is that it doesn’t compromise on Bitcoin security principles. Core’s Satoshi Plus consensus model uses Bitcoin’s hash power through DPoW, bringing Bitcoin-level security to the Core network.

Low latency and high throughput

Core is a low-latency blockchain. It processes transactions quickly, making it more responsive than Bitcoin and Ethereum. The blockchain’s architecture supports high throughput, which is crucial for applications with high user interaction, such as decentralized games and marketplaces.

Decentralized smart contract platform

By combining Bitcoin’s secure foundation with Ethereum’s flexible contract capabilities, Core supports DApps while remaining decentralized. The community gets a safe network that matches Bitcoin’s security values. They also gain flexibility and new ideas from Ethereum’s smart contracts.

How does Core support smart contracts and DApps?

Core is designed to bring the power of smart contracts and DApps to the Bitcoin ecosystem. Core makes it easy for developers to create DApps using Solidity, the same programming language used on Ethereum. This is another feature brought by Core's compatibility with EVM.

Here’s how Core blockchain supports smart contracts and DApps.

EVM compatibility

Core’s EVM compatibility means developers don’t have to learn new programming languages or tools — they can use Solidity, a widely adopted language for creating Ethereum DApps.

This compatibility allows existing DApps to migrate smoothly to Core, bringing new capabilities without extensive rewriting.

For example, a DeFi protocol built on Ethereum can be easily adapted to run on Core, benefiting from the security and speed advantages.

Cross-chain compatibility

Core’s cross-chain compatibility allows it to interact seamlessly with other blockchain networks. With cross-chain bridges, Core can connect with both Bitcoin and Ethereum ecosystems, enabling asset transfers and data exchange across these networks.

This compatibility is valuable for DApps that rely on data or liquidity from multiple blockchains. They can operate smoothly in the Core ecosystem without needing intermediaries.

Decentralized governance and security

Core offers decentralized governance, which allows CORE token holders to vote on protocol changes and improvements. This aligns with the decentralized nature of blockchain and provides a reliable framework for platform upgrades and security.

Enhanced security through Satoshi Plus

Core’s Satoshi Plus consensus mechanism enhances security for smart contracts on the network by using Bitcoin’s hash power alongside DPoS.

This added security layer makes Core an appealing choice for developers seeking a blockchain that combines Ethereum’s flexibility with Bitcoin security principles.

How does Core’s validator system maintain decentralization?

The Core blockchain uses a decentralized validator system. It has a unique election process and a balanced scoring mechanism for fair participation and security. Core’s validator election combines contributions from Bitcoin miners, CORE token holders, and BTC stakers, creating a hybrid approach that maintains decentralization and security.

Core combines the security of Bitcoin’s Proof of Work with community involvement through Proof of Stake mechanisms.

Read on for a closer look at how the Core blockchain validators are selected and rewarded.

Hybrid scoring

Core uses a hybrid scoring model to determine the validator set for each election round. This score is based on DPoW from Bitcoin miners, who can delegate their hash power to Core validators, and DPoS from CORE and BTC holders.

Bitcoin miners participate by attaching validator data to mined block transactions, while token holders delegate their stakes to trusted validators. The validators with the highest combined scores are selected, keeping power distributed across different sources.

Validator rewards

Core incentivizes honest validator participation through validator rewards distributed at the end of each election cycle. These rewards are a mix of transaction fees and CORE tokens, distributed according to each validator’s contribution.

Validators share some of these rewards with token holders who gave up their stakes. This creates an economic cycle that encourages people to keep participating and supports security from the community.

Slashing mechanism

To help prevent malicious behavior and maintain network security, Core employs a slashing mechanism. If a validator fails to produce blocks as required or behaves maliciously — such as by attempting double-signing attacks — part of their staked CORE tokens are "slashed" or forfeited, impacting their eligibility in future elections.

This mechanism acts as a deterrent against dishonest actions, preserving the integrity of the network.

Decentralized participation

Core’s validator system is designed to maintain decentralization by opening up participation to multiple groups — Bitcoin miners, CORE token holders, and BTC stakers. This distribution of power avoids reliance on any single group and encourages a diverse validator set, making it more challenging for any entity to gain undue influence over the network.

What role does the CORE token play in Core?

CORE is more than just a digital asset. It plays a part in the Core blockchain’s daily operations and long-term direction. The token helps with everything from processing transactions to community-driven governance.

Here’s a breakdown of the CORE token’s primary roles on the network.

Transaction fees

Like Ethereum’s ETH, the CORE token is used to pay transaction fees on the Core network. When you send transactions or use DApps on Core, you pay fees in CORE. This approach aims to incentivize validators to work harder to process transactions.

The fee system helps the network to remain efficient and reduces spam transactions by attaching a cost to every action on the blockchain.

Staking and network security

CORE plays a central role in staking, where token holders can delegate their CORE to validators to secure the network. Staking CORE lets you take part in the DPoS mechanism, boosting network security and decentralization. Stakers earn rewards based on validator performance, making staking an attractive option to earn while supporting network stability.

Onchain governance and Core decentralized autonomous organization

The CORE token empowers holders to participate in onchain governance through the Core decentralized autonomous organization. Token holders can propose and vote on changes to network parameters, such as transaction fee rates or validator selection criteria.

This democratic approach allows the community to actively influence the Core blockchain’s evolution, progressively decentralizing network control as the DAO grows.

Hard cap and deflationary model

CORE has a hard cap of 2.1 billion tokens, and follows a deflationary model similar to Bitcoin. This hard cap helps maintain scarcity and can potentially increase the token’s value over time as demand for CORE grows within the ecosystem.

Some of the transaction fees may be burned in the future, supporting the token's deflation.

The final word

The Core blockchain is redefining blockchain technology by combining Bitcoin’s security with Ethereum-compatible smart contracts. Using its unique Satoshi Plus consensus, Core brings together DPoW and DPoS to secure the network while remaining decentralized.

Bitcoin miners can give their hash power to Core, which gives them extra rewards in CORE tokens. CORE token holders can use their CORE tokens to help run and protect the network.

Meanwhile, Core’s EVM compatibility lets developers move Ethereum-based applications easily. This makes Core a popular platform for building DApps. With its high-throughput, low latency, and cross-chain capabilities, Core is positioned to offer the best of both Bitcoin and Ethereum in one ecosystem.