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Core Blockchain (Core Chain), is a Bitcoin-powered, Bitcoin-aligned, EVM-compatible layer one blockchain.
Consensus mechanism-
Core Chain's major innovation is a novel consensus mechanism, Satoshi Plus, which unites Delegated Proof of Work (DPoW) and Delegated Proof of Stake (DPoS).
Major components-
Validators - They are responsible for producing blocks and validating transactions on the Core network. They are elected based on hybrid scores in each round. Hybrid scores are calculated based on the DPoW from Bitcoin miners and the DPoS from delegating CORE token holders. It is made up of 21 validators with th highest hybrid scores.
Hybrid score are calculated using the formula -
S= rHp/tHp∗m+rSp/tSp∗(1−m)
rHp- Bitcoin hash power
tHp- total hash power
rSp- the amount of core tokens delegated by CORE holders
tSp is the total stake on Core Chain
Delegated Proof of Stake (DPOS) is the fastest, most efficient, decentralized POS mechanism. It uses a reputation system and real-time voting to achieve consensus.
Bitcoin Miners-
Bitcoin miners secure the Bitcoin network via PoW and can delegate their PoW to a Core validator by including certain information in the coinbase transaction of a block as it's being mined.
Rewards-
Base rewards, i.e. newly minted CORE tokens;
Fees collected from transactions in each block
COREUSD has surged more than 45% in the past seven days. It holds above the short-term (21 and 55 EMA) and above the long-term moving average. It hit a high of $1.66 and is currently trading around $1.595.
The bullish invalidation can happen if the pair closes below $0.80. On the lower side, the near-term support is $1.50. Any break below targets $1.34/$1.20/$1. Any breach below $0.80 targets $0.50.
The pair's near-term resistance is around $1.70. Any breach above confirms minor bullishness. A jump to $2.55/$2.87 is possible. A surge past $3 will take it to $4.
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It is good to buy on dips around $1.25 with SL around $0.80 for TP of $5.
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