Coreum (COREUM) is a blockchain platform for businesses, designed for scalability, security, and decentralized applications.
As businesses and enterprises increasingly depend on blockchain technology, there is a rising demand for infrastructure that is both scalable and fast, yet compliant with stringent regulations. These requirements ensure that organizations can leverage blockchain technology effectively while adhering to legislative frameworks. Responding to these industry needs, Coreum offers a blockchain solution that promises high scalability, rapid transaction capabilities, and a structure designed to meet regulatory standards.
Coreum, a Layer-1 blockchain, was co-founded in 2021 by Bob Ras and Reza Bashash in Dubai, United Arab Emirates. Bob Ras, a prominent figure in technology and blockchain, is known for his strategic contributions to the industry. He has a history of founding successful companies, including Hardex, and played a vital role in the development of Sologenic and CoreNest. Reza Bashash, with over two decades of experience in technology, is also a co-founder at Sologenic and CoreNest and has been instrumental in advancing blockchain technology through his work.
The Coreum blockchain is designed to support decentralized applications, providing a robust platform for development. Throughout 2024, Coreum is set to introduce several key features to enhance its infrastructure. These include the deployment of the XRPL - Coreum Bridge in March, the launch of an open-source Token Hub in April, and updates to its Developer Playground that will introduce smart contract querying and execution with AI co-pilot support. By May, it plans to implement smart tokens that support clawback policies, followed by the introduction of Smart Token Extensions in June which will allow for customizable logic using Smart Contracts.
By mid-2024, Coreum will implement a native decentralized exchange (DEX), enhancing trading capabilities within its ecosystem. Later in the year, it aims to further expand its services with the launch of an Asset Tokenization Gateway and advanced DEX functions, solidifying its position in the blockchain space. These strategic developments underscore Coreum’s commitment to providing a scalable, efficient, and user-centric blockchain environment, facilitating a wide range of financial activities in a decentralized manner.
Coreum, built atop the robust foundations of the Cosmos SDK and leveraging the Tendermint consensus engine, showcases a leading-edge approach to blockchain technology. This framework provides Coreum with the necessary tools to create a scalable, secure, and interoperable blockchain network that caters specifically to enterprise needs.
At the core of Coreum’s architecture is the Cosmos SDK, a flexible toolkit for building blockchain applications. By utilizing the Cosmos SDK, Coreum benefits from a modular structure that allows for the customization of blockchain functionalities to fit specific use cases. This modularity is crucial for the adaptation of blockchain technology to diverse enterprise environments, supporting a wide range of applications from financial services to supply chain management.
The Cosmos SDK is integrated with Tendermint, a consensus engine known for its efficiency and robustness. Tendermint enables Byzantine Fault Tolerant (BFT) State Machine Replication, ensuring that the network remains operational and consistent even if a portion of nodes fail. This resilience is vital for enterprise applications where downtime can lead to significant financial or operational losses.
Another crucial component of Coreum’s operation is the Inter-Blockchain Communication (IBC) protocol, which facilitates reliable and secure inter-chain interactions. IBC enables Coreum to connect with numerous other blockchains within the Cosmos ecosystem, allowing for seamless asset transfers and communication. This interoperability is essential for modern enterprises that operate across various blockchain platforms, ensuring that they can leverage the strengths of different networks without being locked into a single solution.
The integration of IBC with the Cosmos SDK extends Coreum’s capabilities beyond simple asset transfers. It supports complex inter-chain applications and services, enabling Coreum to serve as a versatile platform for decentralized applications (dApps). This is further enhanced by CosmWasm, a smart contract engine that allows developers to write secure and interoperable smart contracts in multiple programming languages thanks to its compatibility with WebAssembly (WASM).
CosmWasm introduces a multi-chain contract execution environment, which broadens the scope of what can be achieved with smart contracts on Coreum. It adheres to the actor model, where contracts operate independently and communicate through messages, increasing security by preventing direct contract calls and associated reentrancy attacks. This model not only simplifies cross-chain communication but also aligns with modern software development practices, making it easier for developers to build and deploy dApps.
This seamless integration of blockchain layers—combining the Cosmos SDK’s modular architecture with Tendermint’s secure consensus and IBC’s expansive network capabilities—positions Coreum as a functional platform in the blockchain space. Looking ahead, the implementation of smart tokens on Coreum, which will be discussed next, promises to further enhance the network’s utility by facilitating a broader range of decentralized financial services and applications.
Source: coreum.com
Smart tokens on the Coreum blockchain represent a transformative leap in the utilization of blockchain for digital assets, integrating programmable capabilities directly into the tokens through WASM-based smart contracts. These tokens redefine the interaction with digital assets by imbuing them with unique properties and functionalities from inception, offering unprecedented control over asset management, access, and issuance.
These smart tokens are natively issued on Coreum and encapsulate a range of functionalities facilitated by smart contracts, making them highly customizable yet lightweight and efficient. The inherent flexibility of smart tokens is due to their extendable nature, allowing developers to add bespoke functionalities tailored to specific business needs. Smart tokens operate directly on the chain’s storage, meaning that interaction with them does not require invoking complex smart contract functions but rather interacting with what are effectively on-chain objects and classes that have inherent properties and behaviors.
The deployment of smart tokens enables businesses to streamline operations, enhance data integrity, and enable real-time, transparent transactions, providing a competitive edge in rapidly evolving digital markets. From issuing digital assets like cryptocurrencies and NFTs to creating more complex programmable securities that comply with regulatory frameworks, smart tokens open a myriad of possibilities. They support an array of features including issuance (minting), access control lists (ACLs), burning, freezing (both individual and global), and whitelisting, which can all be predefined and automatically enforced by the blockchain.
Notably, smart tokens integrate seamlessly with Coreum’s Inter-Blockchain Communication (IBC) compatibility, enhancing their utility across different blockchain ecosystems. This feature is crucial for enterprises that operate in multi-chain environments, ensuring that tokens can be easily and securely moved across different networks without compromising on the security or functionality of the assets.
Moreover, the cost-efficiency of interacting with smart tokens is markedly improved compared to traditional smart contracts. Transactions with smart tokens incur fixed costs, known in advance, which facilitates budgeting and financial planning for blockchain operations. The predictable nature of these interactions, combined with the high security guaranteed by the underlying blockchain technology, makes smart tokens particularly suited for enterprise use where reliability and predictability are paramount.
In conclusion, smart tokens on Coreum leverage the advanced capabilities of the Cosmos SDK and the interoperability offered by IBC to provide a powerful, flexible, and secure framework for digital asset management. This innovation not only enhances the utility of the Coreum blockchain but also sets the stage for the next evolution in blockchain technology’s role in digital commerce and finance.
Source: coreum.com
Coreum’s blockchain technology offers a robust platform designed to enhance various sectors by enabling decentralized finance applications and enterprise-grade solutions. Here are five potent use cases where Coreum’s capabilities are effectively applied:
Coreum not only promises scalability and efficiency with a capability of handling up to 7,000 transactions per second but also ensures compliance with international standards like ISO 20022, making it a prime choice for global enterprise operations. Its infrastructure supports a wide array of applications from decentralized exchanges to neobanking, making it a versatile and powerful tool in the blockchain landscape.
COREUM is the native token for the Coreum blockchain, powering transactions and governance. Its total supply is 500 million units, of which 385 million are already in circulation (May 2024).
The COREUM token is primarily used to facilitate all operations and functionalities within its network. This token operates on a Bonded Proof of Stake (BPoS) consensus mechanism as defined by its use of Cosmos’s Tendermint engine. This setup allows participants to contribute to network security and functionality without the necessity of running a node, by staking CORE tokens to partake in block generation.
At its inception, the Coreum team allocated 50% of the token’s supply to the community through a structured airdrop, enhancing community ownership and involvement in the network’s growth and security. This distribution includes 70% to the SOLO community and 30% to the CORE community, with specified vesting periods to ensure long-term engagement and network stability.
Validators play a critical role by securing the network and maintaining consensus, rewarded through transaction fees and block rewards, dependent on their staked amount. COREUM token holders can also participate as delegators, selecting validators to stake their tokens with, which allows them to earn rewards while contributing to network stability.
For operational and developmental sustainability, 30% of the tokens are dedicated to network maintenance, operational costs, and ongoing development, ensuring that Coreum can continue to innovate and scale effectively. This strategic allocation supports Coreum’s vision of facilitating robust and scalable blockchain solutions, capable of supporting complex operations such as tokenized real-world assets and enterprise-grade applications.
Source: coreum whitepaper
Coreum’s blockchain architecture is designed to accommodate complex global financial systems and ensure seamless interoperability between blockchains. This setup not only facilitates enhanced financial communication but also introduces efficient cross-chain functionalities and inclusive governance models, each crucial for diverse blockchain applications.
Coreum integrates the ISO 20022 financial messaging standard, ensuring that financial transactions across global institutions are seamless and standardized. This standardization allows for precise and automated data exchange, reducing errors in high-value transactions. The adoption of ISO 20022 also speeds up transaction processing, crucial for financial markets’ efficiency. By enabling smart contracts within this framework, Coreum extends automation to complex financial agreements, further streamlining operations and securing transactional integrity, thus enhancing the overall robustness and responsiveness of the financial ecosystem.
Source: coreum.com
Coreum’s cross-chain routing capability, facilitated by bridges with IBC and XRPL, expands user and developer opportunities by enabling asset transfers across blockchain ecosystems. This feature not only enhances liquidity through integration with XRPL’s DEX and other DeFi platforms but also supports advanced tokenization and smart contract functionalities. The non-custodial bridge architecture ensures security and trust, allowing for the safe and efficient movement of assets, and fostering a more interconnected blockchain environment. It significantly broadens participation in the global digital economy, promoting seamless integration and collaboration across diverse blockchain networks.
Source: coreum.com
Coreum distinguishes itself with a Bonded Proof of Stake (BPoS) consensus mechanism that underpins its on-chain governance model. This system allows stakeholders to propose, vote on, and implement changes directly on the blockchain, promoting transparency and community involvement. The governance process includes proposal submission, voting, and result implementation, ensuring that every stakeholder can contribute to Coreum’s evolution. This inclusive approach empowers users to shape the platform’s future, enhancing adaptability and responsiveness to new technological or market developments.
In conclusion, Coreum is setting a new standard for blockchain functionality with robust features that support global financial compliance, facilitate cross-chain interactions, and empower community-led governance. This comprehensive approach ensures that Coreum is not just a blockchain platform but an important infrastructure for the future of decentralized finance and enterprise applications.
Coreum is noted as a promising business-focused blockchain due to its robust features like ISO 20022 integration, cross-chain routing, and on-chain governance. These attributes position it well within the enterprise blockchain landscape. However, the widespread adoption of Coreum is not guaranteed, as many companies are already implementing their internal distributed ledger technologies (DLT). The future mass adoption of Coreum’s infrastructure will depend on its ability to distinguish itself from these existing solutions and demonstrate clear advantages in security, efficiency, and interoperability to attract and retain enterprise users.
To own COREUM, you can use the services of a centralized crypto exchange. Start by creating a Gate.io account, and get it verified and funded. Then you are ready to go through the steps to buy COREUM.
According to what was announced on Coreum’s official Medium channel, on April 4, 2024, the Coreum Development Foundation has initiated a University Program to revolutionize educational credentialing. This program offers a blockchain-based solution with soulbound tokens (SBTs) that provide secure, tamper-proof academic credentials linked to students’ digital identities. Partnering initially with UC Irvine, the University of Calgary, and the University of Texas at Austin, this initiative aims to simplify verification processes and enhance credential integrity, enabling students to easily and confidently share their qualifications with potential employers.
Check out COREUM price today, and start trading your favorite currency pairs.
Coreum (COREUM) is a blockchain platform for businesses, designed for scalability, security, and decentralized applications.
As businesses and enterprises increasingly depend on blockchain technology, there is a rising demand for infrastructure that is both scalable and fast, yet compliant with stringent regulations. These requirements ensure that organizations can leverage blockchain technology effectively while adhering to legislative frameworks. Responding to these industry needs, Coreum offers a blockchain solution that promises high scalability, rapid transaction capabilities, and a structure designed to meet regulatory standards.
Coreum, a Layer-1 blockchain, was co-founded in 2021 by Bob Ras and Reza Bashash in Dubai, United Arab Emirates. Bob Ras, a prominent figure in technology and blockchain, is known for his strategic contributions to the industry. He has a history of founding successful companies, including Hardex, and played a vital role in the development of Sologenic and CoreNest. Reza Bashash, with over two decades of experience in technology, is also a co-founder at Sologenic and CoreNest and has been instrumental in advancing blockchain technology through his work.
The Coreum blockchain is designed to support decentralized applications, providing a robust platform for development. Throughout 2024, Coreum is set to introduce several key features to enhance its infrastructure. These include the deployment of the XRPL - Coreum Bridge in March, the launch of an open-source Token Hub in April, and updates to its Developer Playground that will introduce smart contract querying and execution with AI co-pilot support. By May, it plans to implement smart tokens that support clawback policies, followed by the introduction of Smart Token Extensions in June which will allow for customizable logic using Smart Contracts.
By mid-2024, Coreum will implement a native decentralized exchange (DEX), enhancing trading capabilities within its ecosystem. Later in the year, it aims to further expand its services with the launch of an Asset Tokenization Gateway and advanced DEX functions, solidifying its position in the blockchain space. These strategic developments underscore Coreum’s commitment to providing a scalable, efficient, and user-centric blockchain environment, facilitating a wide range of financial activities in a decentralized manner.
Coreum, built atop the robust foundations of the Cosmos SDK and leveraging the Tendermint consensus engine, showcases a leading-edge approach to blockchain technology. This framework provides Coreum with the necessary tools to create a scalable, secure, and interoperable blockchain network that caters specifically to enterprise needs.
At the core of Coreum’s architecture is the Cosmos SDK, a flexible toolkit for building blockchain applications. By utilizing the Cosmos SDK, Coreum benefits from a modular structure that allows for the customization of blockchain functionalities to fit specific use cases. This modularity is crucial for the adaptation of blockchain technology to diverse enterprise environments, supporting a wide range of applications from financial services to supply chain management.
The Cosmos SDK is integrated with Tendermint, a consensus engine known for its efficiency and robustness. Tendermint enables Byzantine Fault Tolerant (BFT) State Machine Replication, ensuring that the network remains operational and consistent even if a portion of nodes fail. This resilience is vital for enterprise applications where downtime can lead to significant financial or operational losses.
Another crucial component of Coreum’s operation is the Inter-Blockchain Communication (IBC) protocol, which facilitates reliable and secure inter-chain interactions. IBC enables Coreum to connect with numerous other blockchains within the Cosmos ecosystem, allowing for seamless asset transfers and communication. This interoperability is essential for modern enterprises that operate across various blockchain platforms, ensuring that they can leverage the strengths of different networks without being locked into a single solution.
The integration of IBC with the Cosmos SDK extends Coreum’s capabilities beyond simple asset transfers. It supports complex inter-chain applications and services, enabling Coreum to serve as a versatile platform for decentralized applications (dApps). This is further enhanced by CosmWasm, a smart contract engine that allows developers to write secure and interoperable smart contracts in multiple programming languages thanks to its compatibility with WebAssembly (WASM).
CosmWasm introduces a multi-chain contract execution environment, which broadens the scope of what can be achieved with smart contracts on Coreum. It adheres to the actor model, where contracts operate independently and communicate through messages, increasing security by preventing direct contract calls and associated reentrancy attacks. This model not only simplifies cross-chain communication but also aligns with modern software development practices, making it easier for developers to build and deploy dApps.
This seamless integration of blockchain layers—combining the Cosmos SDK’s modular architecture with Tendermint’s secure consensus and IBC’s expansive network capabilities—positions Coreum as a functional platform in the blockchain space. Looking ahead, the implementation of smart tokens on Coreum, which will be discussed next, promises to further enhance the network’s utility by facilitating a broader range of decentralized financial services and applications.
Source: coreum.com
Smart tokens on the Coreum blockchain represent a transformative leap in the utilization of blockchain for digital assets, integrating programmable capabilities directly into the tokens through WASM-based smart contracts. These tokens redefine the interaction with digital assets by imbuing them with unique properties and functionalities from inception, offering unprecedented control over asset management, access, and issuance.
These smart tokens are natively issued on Coreum and encapsulate a range of functionalities facilitated by smart contracts, making them highly customizable yet lightweight and efficient. The inherent flexibility of smart tokens is due to their extendable nature, allowing developers to add bespoke functionalities tailored to specific business needs. Smart tokens operate directly on the chain’s storage, meaning that interaction with them does not require invoking complex smart contract functions but rather interacting with what are effectively on-chain objects and classes that have inherent properties and behaviors.
The deployment of smart tokens enables businesses to streamline operations, enhance data integrity, and enable real-time, transparent transactions, providing a competitive edge in rapidly evolving digital markets. From issuing digital assets like cryptocurrencies and NFTs to creating more complex programmable securities that comply with regulatory frameworks, smart tokens open a myriad of possibilities. They support an array of features including issuance (minting), access control lists (ACLs), burning, freezing (both individual and global), and whitelisting, which can all be predefined and automatically enforced by the blockchain.
Notably, smart tokens integrate seamlessly with Coreum’s Inter-Blockchain Communication (IBC) compatibility, enhancing their utility across different blockchain ecosystems. This feature is crucial for enterprises that operate in multi-chain environments, ensuring that tokens can be easily and securely moved across different networks without compromising on the security or functionality of the assets.
Moreover, the cost-efficiency of interacting with smart tokens is markedly improved compared to traditional smart contracts. Transactions with smart tokens incur fixed costs, known in advance, which facilitates budgeting and financial planning for blockchain operations. The predictable nature of these interactions, combined with the high security guaranteed by the underlying blockchain technology, makes smart tokens particularly suited for enterprise use where reliability and predictability are paramount.
In conclusion, smart tokens on Coreum leverage the advanced capabilities of the Cosmos SDK and the interoperability offered by IBC to provide a powerful, flexible, and secure framework for digital asset management. This innovation not only enhances the utility of the Coreum blockchain but also sets the stage for the next evolution in blockchain technology’s role in digital commerce and finance.
Source: coreum.com
Coreum’s blockchain technology offers a robust platform designed to enhance various sectors by enabling decentralized finance applications and enterprise-grade solutions. Here are five potent use cases where Coreum’s capabilities are effectively applied:
Coreum not only promises scalability and efficiency with a capability of handling up to 7,000 transactions per second but also ensures compliance with international standards like ISO 20022, making it a prime choice for global enterprise operations. Its infrastructure supports a wide array of applications from decentralized exchanges to neobanking, making it a versatile and powerful tool in the blockchain landscape.
COREUM is the native token for the Coreum blockchain, powering transactions and governance. Its total supply is 500 million units, of which 385 million are already in circulation (May 2024).
The COREUM token is primarily used to facilitate all operations and functionalities within its network. This token operates on a Bonded Proof of Stake (BPoS) consensus mechanism as defined by its use of Cosmos’s Tendermint engine. This setup allows participants to contribute to network security and functionality without the necessity of running a node, by staking CORE tokens to partake in block generation.
At its inception, the Coreum team allocated 50% of the token’s supply to the community through a structured airdrop, enhancing community ownership and involvement in the network’s growth and security. This distribution includes 70% to the SOLO community and 30% to the CORE community, with specified vesting periods to ensure long-term engagement and network stability.
Validators play a critical role by securing the network and maintaining consensus, rewarded through transaction fees and block rewards, dependent on their staked amount. COREUM token holders can also participate as delegators, selecting validators to stake their tokens with, which allows them to earn rewards while contributing to network stability.
For operational and developmental sustainability, 30% of the tokens are dedicated to network maintenance, operational costs, and ongoing development, ensuring that Coreum can continue to innovate and scale effectively. This strategic allocation supports Coreum’s vision of facilitating robust and scalable blockchain solutions, capable of supporting complex operations such as tokenized real-world assets and enterprise-grade applications.
Source: coreum whitepaper
Coreum’s blockchain architecture is designed to accommodate complex global financial systems and ensure seamless interoperability between blockchains. This setup not only facilitates enhanced financial communication but also introduces efficient cross-chain functionalities and inclusive governance models, each crucial for diverse blockchain applications.
Coreum integrates the ISO 20022 financial messaging standard, ensuring that financial transactions across global institutions are seamless and standardized. This standardization allows for precise and automated data exchange, reducing errors in high-value transactions. The adoption of ISO 20022 also speeds up transaction processing, crucial for financial markets’ efficiency. By enabling smart contracts within this framework, Coreum extends automation to complex financial agreements, further streamlining operations and securing transactional integrity, thus enhancing the overall robustness and responsiveness of the financial ecosystem.
Source: coreum.com
Coreum’s cross-chain routing capability, facilitated by bridges with IBC and XRPL, expands user and developer opportunities by enabling asset transfers across blockchain ecosystems. This feature not only enhances liquidity through integration with XRPL’s DEX and other DeFi platforms but also supports advanced tokenization and smart contract functionalities. The non-custodial bridge architecture ensures security and trust, allowing for the safe and efficient movement of assets, and fostering a more interconnected blockchain environment. It significantly broadens participation in the global digital economy, promoting seamless integration and collaboration across diverse blockchain networks.
Source: coreum.com
Coreum distinguishes itself with a Bonded Proof of Stake (BPoS) consensus mechanism that underpins its on-chain governance model. This system allows stakeholders to propose, vote on, and implement changes directly on the blockchain, promoting transparency and community involvement. The governance process includes proposal submission, voting, and result implementation, ensuring that every stakeholder can contribute to Coreum’s evolution. This inclusive approach empowers users to shape the platform’s future, enhancing adaptability and responsiveness to new technological or market developments.
In conclusion, Coreum is setting a new standard for blockchain functionality with robust features that support global financial compliance, facilitate cross-chain interactions, and empower community-led governance. This comprehensive approach ensures that Coreum is not just a blockchain platform but an important infrastructure for the future of decentralized finance and enterprise applications.
Coreum is noted as a promising business-focused blockchain due to its robust features like ISO 20022 integration, cross-chain routing, and on-chain governance. These attributes position it well within the enterprise blockchain landscape. However, the widespread adoption of Coreum is not guaranteed, as many companies are already implementing their internal distributed ledger technologies (DLT). The future mass adoption of Coreum’s infrastructure will depend on its ability to distinguish itself from these existing solutions and demonstrate clear advantages in security, efficiency, and interoperability to attract and retain enterprise users.
To own COREUM, you can use the services of a centralized crypto exchange. Start by creating a Gate.io account, and get it verified and funded. Then you are ready to go through the steps to buy COREUM.
According to what was announced on Coreum’s official Medium channel, on April 4, 2024, the Coreum Development Foundation has initiated a University Program to revolutionize educational credentialing. This program offers a blockchain-based solution with soulbound tokens (SBTs) that provide secure, tamper-proof academic credentials linked to students’ digital identities. Partnering initially with UC Irvine, the University of Calgary, and the University of Texas at Austin, this initiative aims to simplify verification processes and enhance credential integrity, enabling students to easily and confidently share their qualifications with potential employers.
Check out COREUM price today, and start trading your favorite currency pairs.