How hackers stole 214,000 LVL tokens
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Explores the key features of both blockchain networks and compares their impact in the industry.
Pi Network and Core DAO: A closer look at two new blockchain platforms
Pi Network and Core DAO are blockchain platforms that have become popular in the crypto world. While both platforms have their unique features and benefits, many are faced with deciding the best of the two. In this article, we will compare and contrast Pi Network and Core DAO to help you make the best decision based on your preferences.
Framework
Pi Network uses a unique consensus algorithm called “Stellar Consensus Protocol” which enables more efficient mining and better security. The network is designed to be more accessible and user-friendly than other blockchain platforms, making it attractive to beginners.
In contrast, Core DAO uses the Satoshi Plus Consensus mechanism. The Satoshi Plus Consensus mechanism combines both Bitcoin’s Proof of Work (PoW) mechanism and Ethereum’s Delegated Proof of Stake (DPoS), which solves the blockchain trilemma by providing a decentralized, stable and secure ecosystem for users.
management system
According to the Core Whitepaper, the team monitors the network until it reaches a point of sufficient decentralization. Therefore, it is managed by the Decentralized Autonomous Organization (DAO), which regulates governance parameters, changes the number of validators, sets the percentage of block rewards and transaction fees, and more.
On the other hand, Pi Network operates in a Semi-DAO model. This allows the core team to have central authority, but gives the Pioneers a chance to form a strong team that can contribute to the project’s decision-making.
Ecosystem
Pi Network is still in its closed mainnet, focusing on mass KYC adoption and building ecosystem infrastructure. The protocol’s hackathon was part of the plans to build infrastructure, attracting many innovative projects interested in building on the blockchain.
Core DAO is at the forefront of ecosystem development after launching its mainnet on January 14th. Since then, the blockchain platform boasts over 200 unique protocols that offer users a variety of industry use cases.
Pioneers may argue that the Pi Network boasts the best projects with the best tools, but until the Pi core team launches the mainnet, we cannot undermine Core DAO’s progress.
User benefits
Apart from the project’s building on both platforms, they offer unique benefits to users. Pi Network’s main advantage for users is the ability to mine coins with their mobile devices while in a closed mainnet. Furthermore, it is part of the protocol’s goal to make cryptocurrency available to all users. You can learn more about the advantages of mobile mining blockchain in our article.
For the Core DAO, users can benefit from delegating their $CORE to validators via staking on the platform. BSC News has a more detailed explanation of the process HERE.
Which blockchain is better?
Ultimately, the answer to this question depends on your specific needs and preferences. Pi Network may be a better choice for those who are new to blockchain technology or looking for an energy-efficient and user-friendly platform to mine coins for free. On the other hand, Core DAO may be a better fit for those interested in community-driven governance, including a new blockchain to interact with.
It is important to note that both the Pi Network and Core DAO are still relatively new and have yet to fully establish themselves in the crypto world. However, Core DAO has an edge in this light due to the number of active operational projects on the mainnet.
In terms of utility, the Pi hackathon showcased the Pi Network’s capabilities, unveiling unique protocols in the testnet ecosystem. Users were exposed to new aspects of blockchain interactions, away from the usual PlayToEarn (P2E), GameFi and Non-Fungible Token (NFT) trend. On the other hand, Core DAO has produced many such trends in the crypto space, including Decentralized Exchanges (DEX), in a short period of time.
Both protocols started with the mining scheme, but the idea is to create a completely decentralized ecosystem where developers and users can benefit from it. For Core DAO, it is ahead of establishing an elaborate ecosystem for developers after the launch of the mainnet. Pi Network, since coming to space in 2018, has yet to launch the mainnet for real interaction.
Nevertheless, Pi Network’s testnet ecosystem is a blueprint of what the mainnet ecosystem will look like. With over 360 contributions during the Q1 2023 hackathon, the mainnet launch is set to produce many innovative projects. Meanwhile, Core DAO has the advantage because it is fully operational.
What is Pi Network:
Pi Network is a new cryptocurrency and developer platform that allows mobile users to mine Pi Coins without draining their battery. Pi’s blockchain secures financial transactions via a mobile meritocracy system and a full Web 3.0 experience where community developers can build decentralized applications (Dapps) for millions of users.
Where to find Pi Network:
Website | Twitter | LinkedIn | Facebook | Instagram |
What is Core DAO:
Core DAO is the official decentralized organization developing the Satoshi Plus ecosystem. It represents an opportunity for miners to access new revenue streams by contributing hash power to the chain. Inspired by the principles of both blockchains, Core demonstrates a deep understanding of the history of the crypto ecosystem and an even greater excitement for Core’s role in the future.
Where to find Core DAO:
Website | Documents | Twitter | Disagreement
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