In a saturated industry full of rug pulls, meme coins, overall skepticism, and disappointing developments, how does one separate the wheat from the chaff, or rather, the deceit from true craft? In this article, we aim to highlight the key features of CoDeTech and Core Blockchain and the specific characteristics that make them stand out from the crowd. Let’s begin by explaining the fundamental features of the Core blockchain.
Explore Core Blockchain: Redefining Blockchain Technology for Enterprise and IoT
So, what makes Core Blockchain and its native coin, XCB, unique?
Firstly, the Core Blockchain is a proprietary, decentralized Layer 1 Blockchain that utilizes the following features:
- Edward’s Curve ED448 “Goldilocks” cryptography – which strikes a perfect balance between security and efficiency.
- A redesigned PoW algorithm called Proof-of-Distributed-Efficiency – a compelling solution to the environmental concerns associated with energy-intensive mining operations. The algorithm makes CPU mining on IoT devices possible.
- The Core Ecosystem – The Core Blockchain will feature an entire ecosystem of applications, services, and developer tools that will underline the blockchain’s capabilities.
- The Core Blockchain utilizes ICAN addresses, which are able to read MT940 messages as well as SEPA XML messages, ensuring compliance with any DeFi regulations as well as centralized financial institutions.
- The ICAN addresses are made up of human error detection and check-sum, and they allow for HD wallets that are implemented into the blockchain itself.
- Core Blockchain is a multiple-network environment consisting of an enterprise solution called Koliba, a testnet called Devin, and the mainnet.
In other words, Core Blockchain was not built to be “just another blockchain” but rather an innovative foundation for the technology that seeks to shake up the industry as we know it. In line with that, we should not fail to mention and explain how the blockchain’s native currency (XCB) facilitates all transactions on the network, while its counterpart (CTN) makes payments for services and distribution of rewards possible.
Core Coin (XCB)
XCB is the native currency of the L1 Core Blockchain and is processing all hash transactions and network fees. It generates value based on an entire ecosystem of Dapps and real-world implementations, and this creates a natural demand for the coin. That being said, the Core Blockchain was not just built for XCB but for actual concrete use cases that allow for natural supply and demand. In other words, it is a platform as an economy, and each transaction on this platform requires XCB.
At the moment, there are 2 official wallet apps that you can use for XCB storage:
XCB HODLER APP
CorePass
However, XCB is not the only cryptocurrency developed by the founders of Core blockchain. It operates in tandem with a resourceful utility token called Core Token (CTN).
Core Token (CTN)
What gives CTN its value is its facilitation of use cases on the blockchain. It enables payments of services and distribution of rewards in, among other areas, decentralized storage, the content creation realm, and all services offered within the CoDeTech ecosystem itself. So, the services create a natural and automatic demand for the token, but to transact the token for the services, you require XCB. Having both assets is valuable for the holder.
Not Just A Blockchain, But An Ecosystem of Decentralized Applications (CoDeTech)
With a wide range of decentralized applications and use cases on the horizon, the Core Blockchain is here for the long run. CoDeTech is not looking to merely dip their toes in the proverbial water but rather swim with a capital S. But, since they say it’s always good to swim near a boat, their aforementioned ecosystem is the ship built for everyone else to be able to traverse the blockchain waters with them.
As for the individual decentralized applications on the Core Blockchain, here’s what you need to know:
CorePass is a digital identity verifier. It allows you to tokenize and verify your digital identity, and it is a prerequisite to entering the Core Ecosystem. In other words, CorePass securely stores the user’s digital identity and puts its users back in control of their own data, allowing them to share it on a need-to-know basis.
In addition to this, CorePass has 3 other note-worthy functionalities. Firstly, it serves as a swift and secure login method for all decentralized applications of the CoDeTech ecosystem. Secondly, it is also used as a cold wallet that stores the users’ XCB and CTN. Lastly, its KYC functionality will broaden to KYB in the future, making it a secure and trustworthy environment for businesses as well as end users.
On Ping Exchange, CorePass acts as a digital identity verifier, wallet, and login system. In short, CorePass is a peer-to-peer decentralized 2FA, utilizing the blockchain as a form of verification to prove that the individual is who they say they are.
Once you’ve digitized your information, you are in full control of that data, as not even the developers can access it. Ping Exchange developed a new form of KYC, and it is the first exchange ever to pay an individual to register and provide their data – because your data has value. The data you’re transferring is essentially being paid for by the platform, and because of that, you’re able to track and decide what happens to your data.
Ping Exchange rewards you for registration and completion of the KYC process on CorePass. In essence, the platform itself facilitates the transfer of your data. Right now, the value of KYC data in Ping Exchange and CorePass is +- 10CHF. CTN is used as a form of payment for the user’s data, and XCB is used to facilitate the transfer of the data and the tokens.
Other than the aforementioned applications, CoDeTech is still developing a plethora of additions to this roster. Most notably, the applications that will be released in the near future are:
CueSwap – an advanced swapping platform designed for cryptocurrencies. It allows users to seamlessly exchange various digital assets in real-time, providing transparent transaction rates and details.
Ting & Stage – an innovative All-in-One platform seamlessly integrating video sharing, OBS software functionality, and a secure meeting platform into one comprehensive solution.
CorePort – a browser extension linked to CorePass, designed for both end users and developers. It serves as a hub for testing CBC20 tokens and acts as a wallet without storing private keys.
Lastly, the applications that are also under development but slated for later releases are Luna Mesh (a P2P network that will enable internetless functionality), Heyo (a secure and stable messaging application), Wall Money (enables financial institutions and insurance service providers to provide Blockchain as a service to their clients.), Ark (a decentralized e-commerce and content recognition platform) and CorePay (a decentralized blockchain-based payment gateway).
CoDeTech’s network of applications strives to be truly decentralized but compliant with all regulatory requirements and legal standards. Unlike so many blockchain networks, it is not a Wild West environment where every man shoots for himself, but it is rather an inviting, decentralized space with important regulations in place. These regulations help enhance the safety and security of the network and its users, but its decentralized nature keeps the powers that be from having any control over your data and becoming, well, the powers that be. In other words, CoDeTech is transforming the Wild West into a Utopia of sorts.
And while we’re on the topic of the Wild West, what’s the sheriff like in this town?
Security Features
While regular, everyday users of the Core Blockchain might perceive it as a pleasant Sunday morning stroll through the park, the bad actors who wish to do harm to its network will find that it is more akin to an intricate and immutable steel maze. For those wondering what Core Blockchain does to ensure this level of security, here’s a quick rundown:
- With CorePass’ digital ID verification, you can trust that you’re talking and interacting with the right person.
- The improved Edward’s Curve ED448 cryptography method
- XCB, as well as all smart contracts on its platform adhere to NIST standards.
- ICAN addresses and check-sums are used for human error detection and cross-network detection.
- A heightened block rate.
- Being a decentralized Proof-of-Distributed-Efficiency network means no staking.
- The Core Blockchain is also the first blockchain that is ready for a crypto bank, given its ICAN standards, which are similar to IBAN.
- CorePass does not utilize standard 12-word seed phrases but instead uses 24-word seed phrases.
Now that you’re familiar with the features that make the Core Blockchain valuable and unique, you might be wondering what the near and distant futures have in store for this project.
DePIN & Luna Mesh Drive Next-Gen Decentralized Infrastructure & Data Storage Networks
CoreToken, CorePass, CoDeTech, and Luna Mesh have created a collaborative DePIN network that transforms how we handle access control data. This blockchain solution combines robust data storage, secure peer-to-peer communication, and comprehensive business intelligence aimed at embedding blockchain deeply into everyday life.
This DePIN network (demonstrated in-depth in this video) is designed for full interoperability, enabling existing data and cloud solutions to basically integrate effortlessly, paving the way for a future where technology enhances every aspect of our lives. This transformation fosters a balanced ecosystem of organic supply and demand within DePIN, utilizing XCB and CTN to reward community participation in decentralized storage. The Core Blockchain Network being focused on IoT devices is able to be fully operational within the IoT DePIN network which can act as a public network or closed enterprise solution.
With the Access Control market size projected to reach US$ 8551.23 million by 2031, as pointed out in this article, CoDeTech’s solution might make a significant impact on the Asset Control industry and emerge as a key player.
What’s more, CoDeTech’s decentralized infrastructure is an important aspect of the network because it does not rely on the internet, giving it the potential to revolutionize the entire Web3 industry. CoDeTech strives to make its decentralized environment accessible to everyone, reintroducing trust, security, transparency, and privacy into modern-day dictionaries. We can refer to this truly decentralized environment as Web4.
Specific Focus on Real-World Applications (RWA)
- Asset Digitization and Management: Leveraging CTN and XCB, CoDeTech enables the transformation of physical assets into digital tokens, simplifying management and transactions across finance, agriculture, and real estate.
- Decentralized Finance (DeFi) Solutions: Platforms like Core Settlement and Wall Money use CTN for blockchain-based financial transactions and banking services, promoting financial inclusion and reducing traditional banking reliance.
- Smart City Initiatives: Utilizing Lunaº Mesh and XCB, CoDeTech supports the development of smart city solutions that optimize resource usage and improve urban infrastructure through decentralized applications.
- Government Integration (Core e-Gov): Blockchain solutions streamline government operations, enhancing efficiency in eHealth, voting, and administrative processes, ensuring transparency and security.
Benefits of CoDeTech’s Innovations in RWA:
- Enhanced Security: Decentralized systems minimize data breach risks and improve user trust.
- Increased Efficiency: Blockchain technology automates processes, reducing intermediaries and lowering costs and transaction times.
- Greater Accessibility: Solutions like Luna Mesh ensure digital service access in remote areas, promoting inclusivity.
- Transparency: Blockchain technology ensures traceability and immutability, which is critical for finance and government sectors.
With that, we hope we have outlined the power and unique potential of the Core Blockchain.
Through efficient integration of XCB and CTN, an innovative approach to RWA and Decentralized Application, alongside other notable developments and improvements to Blockchain technology, CoDeTech is not only leading the way in blockchain innovation but also forging a more interconnected and efficient global digital landscape. One where trust, transparency, privacy, and connectedness still retain their meaning.
Leave a comment