Coreum L1 Launches, with New Smart Token Technology to Unlock Potential of DeFi

  • Blockchain
  • 24.03.2023 02:35 pm

Coreum, the new enterprise-grade layer one blockchain developed by the Coreum Development Foundation, has officially launched. The low-latency, proof-of-stake blockchain supports the expansion of modular, fast, secure, and interoperable blockchain-based applications, ultimately cultivating the mass adoption of decentralized technology among enterprise-grade entities.

Since its devnet launch in 2021, the Coreum blockchain has gained attention by introducing a new standard for enterprise-use cases that employ best-in-class features, such as:

  • Smart Tokens: Tokens that are natively issued tokens on the Coreum chain, and which are wrapped around smart contracts. They are highly customizable and are designed to be lightweight and flexible while remaining extendible. Truly plug-and-play, these tokens are faster, more secure, and more reliable compared to smart contracts.
  • ISO20022 Compliance: A single standardization approach (methodology, process, repository) used by all financial standards initiatives.
  • Inter-Blockchain Communication (IBC) Interoperability: A protocol for interoperability between different ledgers, where all blockchains connect to and communicate with each other via the IBC.

The release of the Coreum blockchain represents the last step of what has been a well-staged development plan, with its origin based on the Sologenic Tokenization TechnologySologenic has allowed investors to trade stocks, ETFs, and other assets while being built on the XRP Ledger. Sologenic will integrate with the Coreum network so users can hold and trade fungible and non-fungible assets on both Coreum and the XRP Ledger.

“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.”

Intending to process up to 7,000 transactions per second allowing for next-generation scaling to occur on-chain, Coreum will be supported by genesis validators Cosmostation, Huobi, Citadel One, Stakewolle and many other well-known validator operators. In addition to heightened scalability, the new layer one will bring immense multi-chain interoperability through the deployment of bridge functionality and collateralized wrapping. Multichain will be implemented as the first bridge between the XRPL and Coreum to foster continued portability and innovation across both ecosystems.

Coreum actively supports projects in its ecosystem – the first wave of grants brought hundreds of applications, with the six winners now actively building on Coreum's L1: Zeeve, enterprise-grade no-code Blockchain Infrastructure Automation platform; Telios, decentralized email service provider; D’Cent, hardware and software wallet; Stably, regulatory-compliant stablecoin infrastructure provider; Common, new generation loyalty system; and Amber, free-to-play game and metaverse platform. Corerum has just launched its second wave of grants, Wave 2, geared at projects that will leverage Coreum's proprietary Smart Token technology.

“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.”

To celebrate the launch of Coreum mainnet, the Coreum Foundation will be hosting an event at The Lighthouse in Los Angeles, California. The event will include a fundraiser for the non-profit Save the Children. The Coreum Foundation will match all donations made by attendees. Details of the event, Core Nova, can be found at

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