What Is Coreum (CORE)?
Coreum (CORE) is a blockchain platform designed to build decentralized finance (DeFi) applications using WebAssembly smart contracts. The platform is built on top of the Cosmos SDK and offers features such as smart tokens, a decentralized exchange (DEX), and on-demand orderbook. It also supports inter-blockchain communication (IBC) and offers compatibility with existing DeFi applications.
The CORE token is the native currency of the Coreum blockchain and can be used for transaction fees, staking, and governance. The token is also used to incentivize and reward the community of developers and users.
Who Are the Founders of Coreum?
Bob Ras is the CEO and Co-founder of Coreum, a new-generation, layer 1 blockchain designed to function as the core infrastructure for future decentralized applications. He is a serial entrepreneur who has founded several ventures in the manufacturing, tech, and blockchain industries. In the manufacturing sector, his businesses have over a hundred distribution outlets in 62 countries worldwide. In 2018, Bob shifted his focus to cryptocurrency and blockchain technology with the objective of creating a new financial ecosystem for the new era. Apart from his role as the CEO of Coreum, Bob is also the Co-founder of Sologenic, a tokenization ecosystem that uses on-demand tokenization of a wide range of assets. He is a regular commentator on tech topics and has been featured in several outlets, including Nasdaq, Entrepreneur, and Barron's.
Reza Bashash is the CTO and Co-founder of Coreum, and an experienced engineer with a track record of working in the fintech and artificial intelligence sectors over the past decade. He has founded several successful tech companies throughout his career, making him a solid entrepreneur with a proven track record. Reza is an influential blockchain advocate and has gained extensive experience in the field over the years. As CTO of Coreum, he is responsible for overseeing the technical operations of the company, ensuring that the platform delivers on its promises of scalability, security, and efficiency. Reza's extensive knowledge and expertise in artificial intelligence and fintech are valuable assets to Coreum's success in the blockchain space.
What Makes Coreum Unique?
Coreum is a new blockchain infrastructure designed to offer a more secure, reliable, and flexible solution for decentralized applications (dApps) and decentralized finance (DeFi) projects. It features a fast and efficient consensus algorithm, a smart token system, and an on-demand order book for its decentralized exchange (DEX). The platform also utilizes WebAssembly (WASM) and CosmWasm to execute smart contracts in a multi-chain environment. Coreum offers a complete infrastructure for developers and financial institutions to build DeFi applications, and its token, CORE, is designed to incentivize and reward its community of developers and users. Overall, Coreum is poised to make a significant impact in the DeFi space with its unique features and capabilities.
Coreum Smart Tokens are programmable digital assets that can represent any asset or utility and are managed by a smart contract on the Coreum blockchain. These tokens are designed to be flexible, allowing issuers to customize them with features such as whitelisting, blacklisting, burning, and sending fees. They also support IBC compatibility and smart contract integration, making them a versatile and powerful tool for developers.
Smart Tokens on Coreum can be used for a wide range of applications, from creating new digital currencies to managing tokenized assets such as real estate, stocks, or other securities. They can also be used to power decentralized applications, allowing developers to create custom tokens that can be used to access specific features or services within their application.
Coreum utilizes CosmWasm, a smart contract engine designed for the Cosmos ecosystem, to handle smart contracts. CosmWasm is a multi-chain solution that enables the same contract to be executed across different chains within the Cosmos network. The actor model is used in the implementation of CosmWasm, which prevents contracts from calling each other directly and avoids reentrancy attacks. The engine supports cross-chain messaging through IBC and allows for ease of serialization, making it easy to integrate with external systems. Overall, the use of CosmWasm provides Coreum with a fast, efficient, and secure platform for executing smart contracts across the network.
Coreum has a native, built-in decentralized exchange (DEX) feature that allows for low-fee, secure, and fast trading of any issued asset, including CORE and other tokens. The DEX facilitates both direct and indirect order matching, where orders are fulfilled by the best possible opposite orders at the same or better price. Users can create various order types, such as market orders, limit orders, good-till-cancel orders, good-till-time orders, and immediate or cancel orders. The DEX features a fully functional native orderbook that enables on-demand order creation for any possible pair, making it easy for users to trade any assets they choose.
Coreum blockchain is integrated with WebAssembly (WASM), a highly scalable and efficient engine for executing smart contracts developed by the W3C. WASM is portable, Turing-complete, and supports multiple programming languages, making it an ideal choice for executing smart contracts. To further enhance the capabilities of Coreum's smart contracts, CosmWasm is the chosen platform to handle smart contracts. It is designed to be a multi-chain solution for building smart contracts that allow the execution of the same contract in different chains. CosmWasm is based on the Actor model pattern, which increases security, enables inter-blockchain messaging, and eases serialization. Coreum's WebAssembly integration and CosmWasm make it an ideal platform for developers to build decentralized applications and financial products.
Coreum has set aside 10% of the total supply of CORE tokens to provide grants to developers who build innovative dApps on the Coreum blockchain. These Coreum grants are intended to incentivize and encourage developers to contribute to the growth of the Coreum ecosystem. The grants are available for qualified developers and financial institutions who wish to build DeFi applications, smart contracts, and other blockchain-based solutions on the Coreum network. By providing developers with the necessary resources and support, Coreum hopes to foster a thriving community of developers who can help drive innovation and adoption of the Coreum blockchain.
What purpose does Coreum (CORE) serve?
Coreum (CORE) serves several purposes. Firstly, it serves as the native token of the Coreum blockchain, allowing users to pay for transactions, interact with smart contracts, and participate in governance decisions. Secondly, it serves as a means of incentivizing validators and developers to secure and improve the Coreum network. Additionally, Coreum can be used as a medium of exchange, a store of value, and a unit of account for various decentralized applications (dApps) built on top of the Coreum platform, such as decentralized exchanges, lending platforms, and NFT marketplaces. Finally, Coreum can also be used as a means of creating and exchanging new tokens, as the platform allows for the issuance of custom Smart Tokens that can represent a wide range of assets, from cryptocurrencies to real-world assets.
Coreum (CORE) airdrop
The Coreum airdrop will occur after capturing a snapshot of account balances on the XRP Ledger, which established a TrustLine to the Sologenic Gateway. The system will take one snapshot each month for the next 371 days. A total of 100,000,000 CORE tokens will be distributed to those wallet addresses holding SOLO at the time of each snapshot. Initially, CORE tokens will be distributed via an IOU on the XRP Ledger, and once Coreum’s mainnet is launched in August 2022, users can conduct a token swap through a Gateway designated for the CORE. At the time of the initial IOUs distribution on the XRPL, all participants must create a trustline with the Coreum gateway to be able to receive the CORE tokens deposits. Each month’s airdrop will be distributed to SOLO holders at a random date 6 to 8 weeks after the snapshot.
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How Many CORE Are There in Circulation?
There is an initial maximum supply of 500,000,000 CORE tokens, of which an estimated 100,000,000 CORE are currently in circulation as of February 2023. 20% of the circulating supply was airdropped to SOLO community over 1-12 month distribution period. Coreum plans to airdrop 70% of the total supply per Coreum whitepaper to the SOLO community (20%), Coreum community (30%), validator rewards (10%) and community d'Ap development (10%). The rest of the supply will be allocated towards Coreum maintenance, operations, developers, teams and investors.
Where Can You Buy CORE?
CORE is a token trading on the XRP ledger DEX, the most straight forward way to acquire CORE tokens would be to purchase them through XRPL DEX.
If you are looking for alternative exchanges where you can purchase CORE, Bitrue is a good choice. Keep in mind that investing in cryptocurrency can be risky, just like investing in any other type of asset.
How to stay tuned for further updates?
If you wish to receive more updates about the Coreum ecosystem and the upcoming airdrop, we suggest you follow @CoreumOfficial on Twitter.