Core DAO Announces Satoshi Prize (S-Prize) to Reward Ecosystem Development

The Satoshi Prize (S-Prize) introduced by Core DAO will ensure that users gain access to valuable blockchain applications while rewarding its ecosystem builders for their creations.

Core DAO Introduces Satoshi Prize to Incentivize Its Ecosystem Development

Following the imminent CORE airdrop, Core DAO has announced the integration of a new reward token called the Satoshi Prize or Core S-Prize.

“Following the CORE airdrop, ecosystem development will become the top priority. Thus, we’re excited to announce the CORE S-Prize! Short for Satoshi Prize, in honor of Satoshi Nakamoto and our novel Satoshi Plus consensus mechanism.”

In honor of the Satoshi Plus consensus mechanism and Satoshi Nakamoto, the token will be used for ecosystem development. According to the protocol’s Medium announcement, S-Prize will incentivize valuable Decentralized Application (dApp) development and reward builders.

“The goal of the S-Prize is twofold: (1) incentivize the development of real applications that deliver value to Core users and (2) reward builders for the value that they create on the Core network. As one of the world’s largest and most decentralized communities, delivering useful products on Core is the ultimate achievement,” Core DAO wrote.

S-Prize follows the protocol’s mission of ignoring grants that don’t help users at the network’s early stage of development. Grants favor protocols’ development even when they don’t align with the network’s long-term vision. With S-Prize, developers will be rewarded based on their applications’ value to the Core ecosystem, ensuring maximum benefit for users.

Builders receiving S-Prize will be challenged with achieving milestones and completing objectives. Furthermore, the challenges will be time-dependent and paired with reasonable CORE rewards. Core DAO will announce the challenges, CORE prices, and payment timeline.

S-Prize promises to reward builders for their effort toward contributing true value to the Core DAO ecosystem. The initiative would benefit developers, users, and the entire Core community. By rewarding builders based on the value they add to the ecosystem, users can gain access to valuable dApps on the network. Overall, S-Prize will position the network to be a top player in the blockchain industry.

Read the Core DAO publication for more information.

What is Core DAO?

Core DAO is the authoritative decentralized organization developing the Satoshi Plus Ecosystem. The team is building web3 infrastructures and promoting public chains on Bitcoin’s Proof of Work (POW).

As per Core DAO’s official announcement, the launch of its mainnet would enable Bitcoin’s soundness, security and decentralization to meet the interoperability, composability, and scalability of Ethereum blockchain.

The goal of Core is to support the Bitcoin network by giving Bitcoin miners rewards, which will serve as a second BTC block reward when the Bitcoin supply runs out in the near future. Core has advanced thanks to its guiding concept, which forbids any kind of compromise on scalability, security, and decentralization.

Core DAO is getting much support from all over the world, at press time, a total number of Satoshi Bitcoin miners reach 10 million with 47 million apps downloaded. And several crypto projects are already eyeing to build on the Satoshi Plus consensus. However, it takes a lot of conviction and patience to concentrate on the core blockchain components. Due to the lengthy process involved, the Core’s adventure is just beginning with this launch.

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