The Sologenic Development Foundation reveals prime information about a new layer-1 blockchain built to serve as a core infrastructure for the future of decentralized applications.
Coreum is built to improve many weaknesses present on current Blockchain networks and provide developers with an essential infrastructure to develop decentralized applications, from asset tokenizations, banking and remittances to DeFi, Metaverse and Gaming.
TALLINN, Estonia, Dec. 20, 2021 (GLOBE NEWSWIRE) — The Sologenic Development Foundation announced “Coreum”, a new Layer-1 Blockchain being built to improve many weaknesses present on current Blockchain networks and provide developers with an essential infrastructure to develop decentralized apps, from asset tokenizations, banking and remittances to DeFi, Metaverse and Gaming.
With no Initial Coin Offerings (ICO), Coreum is an open-source project built to be 100% community-based, allowing this technology to support extensive future growth in Decentralized Applications (dApps) and DeFi space within the whole blockchain ecosystem. The first round of CORE tokens airdrop distribution is scheduled for February 2022 destined for the Sologenic community and SOLO holders with the very first snapshot to be taken at a random time between December 24th to 31st 2021.
While many modern Blockchain networks are currently using the Ethereum Virtual Machine, Coreum benefits from the modern turing-complete Web Assembly (WASM) engine to process smart contracts written in many different languages and compiled into WASM before processing.
Among other features, Coreum will offer Cross-Chain Interoperability by deploying a bridge functionality, which allows other cryptocurrencies to flow into Coreum’s Ecosystem through the collateralized wrapping. This functionality is being backed by built-in modules that support a fully Decentralized Exchange with Synthetic Order Book functionality.
Coreum stands out with a block time of 1.5 seconds and the ability to…
