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Core Blockchain Outruns Competition, Bringing Web 4.0 and DeFi 2.0 via CoDeTech

Category: Blockchain6 min read

Core Blockchain Web 4.0

The recently released Core Blockchain represents the next step in this area of tech.

For years now, people have been musing about what is the next best thing in blockchain technology or which project can bring about the long-awaited revolution. Unbeknownst to all of us, there has been a project in development that has been flying under the radar for years now and that might just bring about what all these projects have been promising.

It all began nine years ago, when Michael Loubser, Ockert Loubser, and Rastislav Vašička met for the first time and discussed developing a commercial platform with an integrated payment gate system. Blockchain technology provided an answer to how this vision could be projected into reality. One thing led to another, and the now founders were proud to present the Core Blockchain network earlier this year, which seems to be the most advanced, secure, scalable, and affordable blockchain network in the world to this date.

Core Blockchain Timeline

According to the official website, the new network outruns the competition with its state-of-the-art security measures, deploying the most unique Edward’s Curve ED448-Goldilocks cryptography, which has never been used in a blockchain before. It is the first blockchain to offer “224 bits of security.” However, that is but the tip of the iceberg of all of its features.

The Core Blockchain’s upscaled Proof of Work mining algorithm resets the bar in an eco-friendly fully decentralized environment. They refer to it as the Proof of Distributed Efficiency (PoDE), which prides itself on using IoT devices with its resources powered by waste and solar energy, batteries, or power banks. With no special mining devices required, you can even mine the native currency — the Core Coin (XCB) — with your mobile phone, laptop, or with special mining devices that will only set you back a minuscule amount of electric power — around 8W/h.

Multiple IoT devices that can be deployed in the mining process should guarantee that the network stays green, such as the Raspberry Pi 4.0, or the ORB i2, a universal mining device that provides an instant connection to the Core Blockchain. The ORB i2 has been developed by CoDeTech, a company founded by the Loubsers and Vašička that has built a large ecosystem centered around the Core Blockchain.

CoDeTech Presents ORB i2

With its extraordinary programming, the network will ultimately be able to exceed 10,000 transactions per second, which makes it competitive with transaction processors like Mastercard, Visa, and soon-to-be-released Ethereum 2.0. The Core Blockchain bridges the FIAT and crypto worlds with oracles based on the ISO standard that support SWIFT messages. Moreover, the blockchain is integrated with the ICAN standards that represent the modern IBAN.

Core Blockchain is also interoperable with other blockchains, centralized environments, and cloud platforms. This means that any organization, financial institution, and government institution is able to operate on the blockchain and bring their services into a stable, decentralized, and secure environment.

For the Core Blockchain to be implemented as an interoperable network, the Ylem language has been developed specifically enabling an object-oriented platform supporting methods, functions, objects, classes, as well as larger smart contract architectures. Ylem is a huge improvement mainly in cryptography on Solidity, originally operating on the Ethereum network. This significantly improves Smart Contract development through the use of modern cryptography that not only increases the security but also decreases the actual processing/execution of the Smart Contracts itself.

The Ylem Smart Contract Platform will also enable any company or an individual to create their own CRC project, be it a token, or, for example, a DeFi app. Again, with an unprecedented level of speed and security, this feature makes the Core Blockchain highly appealing to inventors. Therefore, it creates a natural demand for Core Token (CTN) and Core Coin (XCB), which provide a lucrative opportunity for investors. This is comparable to the beginnings of the Ethereum network.

The blockchain founders have stated that creating a new blockchain with nothing tangible to bring forth to the world would be an exercise in futility. Therefore, the founders and their like-minded team took it upon themselves to create an ecosystem of services around the Core Blockchain that would provide people with everything they need in their everyday lives, but with one simple bonus — their data would be safe. The ecosystem manifested itself as one of the first developers on the Core Blockchain - CoDeTech.

CoDeTech is a blockchain solutions company with a focus on allowing the user to “take control.”

CoDeTech is bringing several platforms to the Core Blockchain, such as the Ping Exchange (your decentralized hybrid exchange), TiNG & MeeTiNG (your decentralized video streaming and online conference platform), WallMoney (your decentralized banking services platform), TokToKey (your decentralized e-commerce), and more.

But perhaps the most important application that will run on the blockchain is the CorePass — your first-ever borderless, serverless, decentralized, peer-to-peer digital identity and the gateway to the whole ecosystem of services.

CorePass was designed to secure your data, making sure that you have the power to decide to whom you provide your personal information. CorePass thus enables you to fully take control and not worry about third-party actors gaining access to your online input.

The application also aims to provide a solution for the tens of millions of undocumented people and refugees who live with no credentials. The application is set to combat human trafficking, child abduction, and more.

CorePass rests on a proven, breakthrough technology that has the power to give everyone – including the poor, the unbanked, the undocumented, and the stateless – the power to shape their destinies, thanks to the possibilities that the Core Blockchain provides.

Lunaº Mesh

In the near future, CoDeTech will bring an integrated Luna Mesh Network, which is based on a system of interconnected decentralized nodes that guarantee serverless peer-to-peer and secure data transfers. Luna Mesh Network is able to use standard LAN connections such as Wifi, but also operates on radio frequencies, making it possible for the entirety of the Core ecosystem to be fully operational even without an internet connection.

CoDeTech founders even claim that this technology, Core Blockchain along with Luna Mesh Network and the whole ecosystem of Dapps, represents the future and is setting the trend of the demand for decentralization by achieving the goals set out for the existing technology, which results in creating Web 4.0, DeFi 2.0, and Internet 2.0.

Inclusive Digital Economy

The achievements are a drastic improvement in the existing infrastructure that has been developed in a decentralized environment by launching Core Blockchain on 6 May 2022. One can believe that the founders have actually revived the downtrend in Proof-of-Work mechanisms by addressing speed, scalability, and environmental issues.

Currently, the blockchain height has surpassed 1 million blocks. The first platforms on the network are slated to be released later this year. Until then, the network enthusiasts have the chance to mine the native Core Coin (XCB).

The article has originally been published at CCnews24.