Welcome to my new weekly column, Core Corner. This feature is central Core Blockchain (XCB), a layer 1 ecosystem that seeks to reshape the decentralized digital landscape.
Last year I met the core developers of the chain, CoDeTechand produced this short film documentary about the development up to that point. Since then, the team has launched the first applications on the network, most notably the CorePass ID digital identity wallet and Ping exchangea peer-to-peer CEX trading from hybrid cold storage wallets.
Core Blockchain XCB Ping and CorePass launch.
One of the most interesting choices for Ping was to remove market makers from the equation, meaning each trade takes place between two real traders with no synthetic volume or orders. CEO Ockert Loubster said on X,
“Trading on a hybrid decentralized exchange (DEX) like Ping, which operates without market makers and is powered purely by person-to-person (P2P) trading, offers a unique approach to buying and selling digital assets.”
From what I’ve seen, the decision to launch without market makers is consistent CoDeTechs continuous approach throughout the years of its development. When presented with two options, one commercially beneficial and the other less so, but in line with a P2P, decentralized, self-sovereign ethos, they always choose the latter, and much more difficult, option.
It is probably for this reason that the blockchain has flown under the radar by much of the Web3 world and why I refer to its development as a ‘public stealth’. Although it has been building publicly for years, it has done so without using the methods other chains used to gain fame, such as high-profile VC backers, token sales, airdrops, influencer shilling, or celebrity endorsements. While I’m not saying these methods are harmful to the health of an ecosystem, CoDeTech has done, creates a very level playing field for anyone who wants to enter the space.
After nine years of development, Core XCB is one emerging layer-1 blockchain which I believe has the potential to emerge from the next bull run as a leader in Web3, similar to the eventual winners after the dotcom bubble burst. Furthermore, recently implemented token standards open the door to a new developer community beyond the original developers, making available white space one of the most exciting opportunities in an increasingly saturated market.
Core Blockchain (XCB)
The Core blockchain represents a new approach that uses a proof-of-work consensus variant called Proof of Distributed Efficiency (PoDe). It runs on a power-efficient Proof of Work (PoW) mechanism, making it stand out from its predecessors and optimized for IoT devices. With proof-of-stake networks coming under more scrutiny than PoW and PoW being criticized for its high energy consumption, PoDe could offer some exciting opportunities in today’s market.
While much of the PoW energy debate can be somewhat mitigated by renewable energy, lower energy consumption is still beneficial. Yet Core XCB does not compete with networks like Bitcoin. Instead, it is comparable to chains in the Web3 world, such as Ethereum and Solana.
