A new take on Proof of Work – Core Blockchain XCB is a dark horse for 2024
Core Corner Issue 1: Weekend column looking into the Core Blockchain (XCB) ecosystem.
While CoDeTech was the initial developer for Core XCB, the ecosystem acts similarly to Ripple within the XRP ecosystem, helping it transition into full community development. CoDeTech Founder Ockert Loubster has stated that it’s essential that Core XCB is accessible to all, fostering an environment of equality and opportunity.
The lack of traditional venture capital funding and pre-sale token models has thus prevented wealth concentration and ensured a level playing field for all participants. Core Improvement Proposals (CIP) act similarly to EIPs on Ethereum, with CoDeTech actively encouraging developers to join the network and contribute to the project.
CoDeTech has transitioned to building a suite of dApps on the network, asserting its commitment to creating a decentralized, user-centric web3 ecosystem. A vital component of this ecosystem is CorePass, a digital identity wallet that functions as a hybrid cold storage wallet.
CorePass revolutionizes the concept of data ownership by enabling users to monetize their data, shifting the paradigm from data being the product to users being compensated for their information. If a third-party dApps wants to access a user’s data for processes such as AML/KYC, it must pay the user for access, which is verified on the chain. This means the user is renumerated for giving away valuable information, while the vendor is assured the data is accurate and up to date.
The Core ecosystem currently comprises several key components:
- Core Blockchain: The foundational blockchain network employing PoDE.
- Core Token (CBC20): A utility token facilitating various functions within the ecosystem.
- Ping Exchange: A digital asset exchange platform within the Core ecosystem.
- CorePass: The digital identity wallet central to the user experience.
- Luna Mesh Network: P2P Mesh network enhancing connectivity and decentralization.
In the pipeline is developing a streaming platform, Ting, reminiscent of a combination of Twitch, Zoom, and OBS seamlessly integrated with CorePass. This platform is expected to launch in 2024 further to enhance user engagement and interactivity within the Core ecosystem.
A really unique feature of Core XCB is its interconnection with a peer-to-peer mesh network, Luna Mesh. This innovative approach aims to reduce dependence on the public internet, reinforcing the platform’s commitment to decentralization and user sovereignty. We’ll discuss this more in another column.
The network tokens run on a CBC-20 standard, similar to ERC-20, but with added functionality for real-world assets and regulatory-compliant sandboxes. This strategic design aims to ensure compliance with diverse national regulations without compromising the decentralized and self-sovereign nature of the underlying protocol. The PoDe-mined coin XCB is fully decentralized, separating consensus from on-chain tokens.