The Coreum Development Foundation’s new layer one, enterprise-grade blockchain, Coreum, has officially gone live. The development of modular, quick, safe, and interoperable blockchain-based apps is facilitated by the low-latency proof-of-stake blockchain, which eventually fosters the widespread adoption of decentralised technology by enterprise-grade institutions. The Coreum blockchain has drawn attention since its devnet launch in 2021 by establishing a new standard for enterprise-use cases that make advantage of best-in-class functionality, like:
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Smart Tokens are natively issued tokens on the Coreum chain that are encapsulated by intelligent contracts. They are made to be lightweight, flexible, and extendable with a high degree of customizability. These tokens are faster, more secure, and more dependable than smart contracts since they are truly plug-and-play.
ISO 20022 Conformity: a uniform standardisation methodology, procedure, and repository that is applied across all financial standards projects. Block to Block Communication (IBC) Interoperability: A protocol that enables communication and connection between various ledgers. The IBC serves as the bridge between all blockchains.
The launch of the Coreum blockchain is the culmination of a carefully phased development process that had its roots in the Sologenic Tokenization Technology. While being developed on the XRP Ledger, Sologenic has enabled investors to trade stocks, ETFs, and other assets. Users will be able to hold and trade fungible and non-fungible assets on both Coreum and the XRP Ledger thanks to Sologenic’s integration with the Coreum network. Coreum will be backed by genesis validators Cosmostation, Huobi, Citadel One, Stakewolle, and many other well-known validator operators. It plans to handle up to 7,000 transactions per second, enabling next-generation scaling to happen on-chain. The implementation of bridge capability and collateralized wrapping in the new layer one will significantly improve multi-chain interoperability in addition to its increased scalability. To encourage continuing mobility and innovation across both ecosystems, Multichain will be developed as the initial link between the XRPL and Coreum.
The initial round of scholarships attracted hundreds of submissions, and the six winners are currently working to expand on Coreum’s L1:
Zeeve, a platform for enterprise-grade no-code Blockchain infrastructure automation; Telios, a provider of decentralised email services; D’Cent, a hardware and software wallet; Stably, a stablecoin infrastructure provider adhering to regulatory requirements; Common, a new generation loyalty system; and Amber, a platform for free-to-play games and the metaverse. Wave 2 of Corerum’s grants, which are intended for initiatives that will make use of the company’s own Smart Token technology, has just been released. The Coreum Foundation will hold an event at The Lighthouse in Los Angeles, California, to commemorate the opening of the Coreum mainnet. A charity auction will be held in support of Save the Children during the occasion. All contributions made by attendees will be matched by the Coreum Foundation. Core Nova information can be found at coreum.com/core-nova.
“It’s a suitable time to expand the Coreum community, increase its reach within the crypto space, and make the Coreum ecosystem truly decentralized,” said Reza Bashash, co-creator of Coreum and co-founder of Sologenic. “The tokenization and decentralization of assets remain key tenants of what we believe, and inform all the decisions we make. We are also anchored by a belief in a proof-of-solvency model, which can help restore faith in the best crypto projects and protect this industry’s future.” “This is an exciting day. Coreum’s open-source project is 100% community-owned, built by developers with developers in mind, with a passion for making a more advanced, secure and fast blockchain for enterprises of any size,” said Bob Ras, co-creator of Coreum and co-founder of Sologenic. “Coreum emerged from the Sologenic Tokenization Platform, and the XRPL has been a key to our journey up to this point. The XRP Ledger inspired many aspects of the Coreum Blockchain, and the foundation will keep the two blockchains side-by-side in a complementary and interoperable way.”
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