Coreum

What is Coreum (COREUM)?

Coreum (COREUM) is a third-generation layer-1 blockchain designed to solve many of the challenges faced by existing blockchain solutions. Built with a focus on scalability, interoperability, and enterprise-grade functionality, Coreum aims to provide a sustainable foundation for decentralized applications (dApps) and the broader digital economy.

Launched by the Coreum Foundation, this innovative blockchain platform was developed to overcome the limitations of older blockchain technologies, particularly in terms of transaction speed, cost-efficiency, and environmental impact.

How Does Coreum (COREUM) Work?

Coreum (COREUM) operates on a unique consensus mechanism called Bonded Proof of Stake (BPoS), which significantly enhances its performance capabilities. This architecture allows Coreum to process up to 7,000 transactions per second (TPS) with finality in just 2 seconds, positioning it as a highly efficient blockchain solution.

The network employs a sophisticated smart contracting layer that supports multiple programming languages, making it accessible to a wider range of developers. Its core features include:

• Smart Tokens: Programmable tokens with built-in compliance features
• WebAssembly (WASM) support: Allowing developers to write smart contracts in multiple languages
• Multi-signature accounts: Enhanced security for institutional users
• Inter-Blockchain Communication (IBC): Seamless interaction with other blockchains

Staking and Validation on Coreum (COREUM)

Coreum (COREUM) utilizes a Bonded Proof of Stake (BPoS) consensus mechanism, which means tokens can be staked to secure the network and earn rewards. Here's how staking works on Coreum:

Staking COREUM

Users can stake their COREUM tokens through the official Coreum wallet or supported third-party platforms. By staking, token holders can earn annual yields while contributing to network security. The staking rewards are generated from transaction fees and new token issuance, with annual percentage yields (APY) varying based on network participation.

Validators play a crucial role in the Coreum ecosystem by running nodes that process transactions and add new blocks to the chain. The network selects validators based on the amount of COREUM staked (including delegated tokens), with the top validators forming the active set that maintains consensus.

Mining on Coreum

It's important to note that Coreum (COREUM) does not support traditional mining operations. As a Proof of Stake blockchain, it doesn't require energy-intensive mining activities like Proof of Work systems (such as Bitcoin). Instead, network security and transaction validation are achieved through the staking mechanism, making it significantly more energy-efficient and environmentally friendly.

What is Coreum (COREUM) Used For?

The COREUM token serves multiple purposes within the ecosystem:

• Transaction fees: COREUM is used to pay for transactions and smart contract operations
• Staking: Token holders can stake COREUM to participate in network security and earn rewards
• Governance: COREUM holders can participate in on-chain voting to determine the future direction of the protocol
• Enterprise solutions: Companies can leverage Coreum for tokenization of assets, supply chain management, and payment systems
• DeFi applications: The platform supports various decentralized finance applications

COREUM Token Distribution

When Coreum launched, the COREUM token was distributed through several allocation channels to ensure a balanced ecosystem. The distribution included:

• Ecosystem development and growth: A significant portion allocated to building the ecosystem
• Foundation reserves: Funds held by the Coreum Foundation for future development
• Team and advisors: Allocations to the core development team and strategic advisors
• Community incentives: Tokens reserved for community programs and incentives
• Public sale: A percentage made available to early supporters through public token sales

The token distribution was designed with long-term sustainability in mind, with vesting schedules for team allocations to ensure continued commitment to the project's development.

Additional Key Features of Coreum (COREUM)

Technical Innovations

Coreum incorporates several advanced features that distinguish it from other blockchains:

• Sharding: Horizontal scaling through data partitioning for improved throughput
• Smart Tokens: Native tokens with programmable features like freezing, whitelisting, and blacklisting
• Deterministic finality: Transactions are finalized within seconds, providing certainty for financial applications
• Low carbon footprint: Energy-efficient consensus mechanism compared to Proof of Work systems

Trading Coreum (COREUM) with Cryptohopper

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With Cryptohopper, traders can set up customized strategies to buy and sell COREUM based on technical indicators, market trends, and risk management parameters. This automated approach allows for 24/7 trading without the need for constant manual monitoring, potentially maximizing opportunities in the volatile cryptocurrency market.

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