Core
Overview
Status
Mainnet
Type
BPoS Network
Fee Token
CORE
BTC Supply
₿0
Core (in relation to Bitcoin) is an EVM sidechain with a hybrid consensus mechanism, Satoshi Plus, that leverages both DPoW and DPoS. It uses a federated multisig to bridge BTC with multiple parties ensuring the honesty of the two-way peg. The native token of the network is CORE, which is used for transaction fees, staking, and governance in Core DAO.
CUSTODY
DATA AVAILABILITY
OPERATORS
FINALITY ASSURANCE
BTC Supply
Total supply per day
Supplycoming soon
TVL Data Coming Soon
We're currently gathering and building data infrastructure for this network. TVL analytics will be available soon.
Token Contracts
Token Contracts Coming Soon
We're working to collect the various BTC-backed token contracts for this network. Contract addresses will be available soon.
Risk Summary
All BTC pegs have custodian trust assumptions
All BTC backing wrapped tokens on this network are ultimately secured by custodians. Users trust that these custodians will not misappropriate funds and keep their assets pegged 1:1. Each custodian has their own risks. Learn more in the trust assumptions review section.
The network is an alternative blockchain
The network is an alternative blockchain. Users trust the economic security of the network to deter validators from censorship and creating malicious peg outs.
Categorization
The project does not have an enshrined bitcoin bridge
The project does not have an enshrined bitcoin bridge that meets our sidesystem standards. Our standards require sidesystem's enshinred bridge programs to have at least 5 signers with 4 of those signers being external to the project's primary development organization.
Trust Assumption Review
BTC Custody
Very High
🛑
Users trust custodians and various onchain contracts. We have not reviewed the contract implementations for this chain
SolvBTC claims to be partially backed by native BTC managed by custodian providers. It’s been stated that Copper, Ceffu, Fireblocks, and Cobo are custodial providers securing BTC that partially backs SolvBTC. It's additionally backed by various BTC-derivative assets; BTCB, wBTC, FBTC, cbBTC, BTC.b, and tBTC. Multisigs securing derivative assets backing by SolvBTC are secured by GnosisSafes with 5 signers.
Learn more about Solv SolvBTC.m's custody model→
Data Availability
Medium
⚠️
Data availability requirement fulfilled by Core chain full nodes
Data relative to the network's state is stored and made available by its full node set. Anyone can run a full node and verify the state of the network.
Network Operators
Medium
⚠️
Core's hybrid consensus mechanism operates the network
The network's blocks are constructed by a distributed validator set. Validators participate in a proof-of-stake consensus network. Anyone with sufficient resources and token stake can become a validator and participate in block production.
Part of stake weight is derived from BTC stake that is assigned to a given validator.
Part of stake weight is derived from BTC stake that is assigned to a given validator.
Finality Guarantees
Medium
⚠️
Transaction finality is provided by Core Chain consensus and has no assurances inherited from Bitcoin
State transitions are finalized by an alternative consensus mechanism with a distributed validator set.
Bitcoin Security
Core indirectly inherits security from Bitcoin consensus participants
The network's economic security is partially derived from staked BTC locked in bitcoin L1 staking scripts.
The network additionally can be merge-mined by bitcoin miners.,
The network additionally can be merge-mined by bitcoin miners.,
Core Chain requires another token to function
Fees to network operators are paid in an alternative token.
No MEV introduced on Bitcoin
The network does not introduce any MEV on the Bitcoin L1. Users trust the validators of the network to not reorder their transactions to extract MEV.
Core Chain indirectly contributes to the security budget.
Fees from securing the network's are paid to Bitcoin miners who optionally merge-mine the network.
🚨 Project is not a sidesystem
This project will be moved to the Alternative category
Projects that do not meet our requirements to be considered a sidesystem will be moved to the Alternative category. They have until June 30th to implement the technical requirements to be considered a sidesystem.
Technology
Ethereum Virtual Machine
The network uses an EVM-compatible virtual machine. The Ethereum Virtual Machine is software responsible for smart contract execution for a number of blockchains, namely the Ethereum Network. It uses Solidity/Vyper as its code and is the dominant environment for smart contract execution in the cryptocurrency ecosystem.
Bitcoin Staking
Bitcoin staking is a mechanism by which BTC on the L1 is locked in a staking script. The BTC is then directed to validators on a Proof-of-Stake network which adds to the network's economic security. These scripts see users retain custody of their funds.
All bitcoin staking mechanisms vary in implementation. We are currently reviewing the network's exact staking mechanism.
All bitcoin staking mechanisms vary in implementation. We are currently reviewing the network's exact staking mechanism.
Use Cases
Onchain applications
Onchain applications are supported. Onchain applications include borrowing and lending protocols, onchain exchanges (commonly referred to as decentralized exchanges), and more. These applications are supported with more expressive smart contract environments.
Onchain applications
Users can lock L1 BTC into staking script to support the network's security. The BTC is directed to validators within the Proof-of-Stake network. These scripts see users retain custody of their funds, but sees them take on slashing risks.
In return for locking their funds into a staking script, users are paid rewards in the form of fees or altcoin issuance.
In return for locking their funds into a staking script, users are paid rewards in the form of fees or altcoin issuance.
Source Code
Code is open-source
Core's node implementation is open-source.
Knowledge Bits