The Satoshi Core Mining is a legitimate cryptocurrency project that started operation on December 12, 2020 and is scheduled for the mainnet by Q3 2022.
Mainnet Keynotes for Satoshi Core Mining
Based on verified observations, the project is founded and led by numerous of technology enthusiasts worldwide – who are loyal fans of Satoshi Nakamoto (Bitcoin creator) and follow Satoshi’s idea – making them to chose anonymity.
The ongoing activities on Satoshi Core Mining is strictly an airdrop – aimed at providing opportunity for participants to be in possession of $CORE fairly, without much stress or difficulty. – and is scheduled to elapse within December 2022, so that the actual mining operations will proceed completely.
With a maximum supply of 2.1 billion CORE, 525,600,000 will be airdropped via the ongoing activities on the app – and then 1,574,400,000 will be available for the Decentralized Node Mining – for an 81 year period.
Mining of Satoshi Core via nodes will kickstart on the quarter three of 2022 (ie from the Mainnet activation) and will run concurrently with the ongoing app mining process until 12th December 2022 when the app processes will be stopped, enabling only node process be the only method of mining Core.
Node Mining On Satoshi CORE
The operation on node mining to get more core are as follows ; Validators, Delegators, Verifiers, Relayers and Bitcoin Miners.
Validators are responsible for the production of the blocks and validating of transactions on the Satoshi Core network. Becoming a validator requires registration with the network and locking up about 10,000 CORE deposit to be included into the validator set per the rules of the validator election. Anyone can deposit and become a validator on Core, and the locked CORE are refundable.
On the Validator Election: The mechanism in which the top 21 validators are selected for inclusion in the validator set. Validators are elected in relation to their hybrid score each round.To ensure a more stable TPS, the “live” validators are updated every 200 blocks during the round so that other validators do not need to wait for “jailed” validators for the entirety of the round.
Delegators are the existing holders of core who wishes to participate in the staking process by delegating their $CORE to a validator, so as to be getting rewards. They can undelegate any time they want.
Relayers are strictly responsible for relaying BTC block headers to the Core chain. In order to relay, a potential relayer must register with the network and lockup a refundable CORE deposit. Anyone can deposit and become a relayer on Core.
Verifiers are in charge for reporting malicious behaviors on the network. Anyone can act as a verifier in the Core network. Successful verification flags may result in slashing (rewards or stake) or jailing misbehaving validators.
BTC Miners: Using their public and private keys, BTC miners can delegate their hash power to a Core validator or delegate to themselves if they choose to run a validator by verifying and syncing their identity (addresses) on both the BTC and Core blockchains.
When relayers submit transactions, they sync the blocks mined by the BTC miner with the Core Network. Every round, the Core network calculates the BTC hash power associated with each validator by counting the number of blocks produced by each miner in the BTC network during the same day of the prior week.
Delegated Proof of Stake: Proof of Stake is a scalable, energy-saving alternative to PoW, but it restricts small stake users. In request to level the playing field, some blockchains have introduced various types of Delegated Proof of Stake (DPoS) mechanisms, allowing the token holders to vote and elect the validator set by delegating their holdings to validators, typically incentivized by rewards.
Using DPoS, small-stake CORE holders are eligible to delegate their CORE to active Validators, which empowers the community and incentivizes the democratization of delegated CORE.
Satoshi Core users can join the Telegram Group Chat with over 110,000 participants for informational purposes about the project ahead of the anticipated mainnet launch date.