Coreum (COREUM) is a layer one, proof-of-stake (PoS) blockchain designed for enterprise use, focusing on scalability, security, and interoperability. It features smart tokens with built-in business logic and supports various applications such as digital assets, stablecoins, tokenized traditional assets, and NFTs. The blockchain is built for high performance, with a capacity of up to 7,000 transactions per second, and utilizes the Tendermint Byzantine Fault Tolerance (BFT) consensus mechanism and Cosmos SDK’s Bonded Proof of Stake (BPoS).
The Coreum (COREUM) token is the native token of the Coreum blockchain, a transactional token that facilitates all operations and functionalities within the network. It is used in various ways, including:
- Consensus Protocol: The token is used in the Bonded Proof of Stake (BPoS) consensus mechanism, which allows for staking, delegating, slashing, and governance.
- Tokenization: COREUM is used for tokenization, enabling the issuance of fungible and non-fungible assets on-chain, with features such as token burning, freezing, and whitelisting.
- Smart Contracts: The token interacts with WASM-based smart contracts, enabling diverse use cases and advanced DeFi experiences.
- Interoperability: COREUM is involved in cross-chain transactions using the IBC Protocol and Coreum’s native bridge to the XRP Ledger, ensuring swift and secure transactions.
- Staking and Rewards: Validators and delegators use COREUM to participate in the consensus, increase network security, and earn rewards.
- Custody and Integration: The token can be held in regulated custody and integrated with REST APIs for wallets and staking, as seen in BitGo’s support for Coreum.
These uses highlight the versatility and importance of the COREUM token within the Coreum ecosystem.
To store Coreum (COREUM) tokens, you can use various wallets that support the Coreum Mainnet. Some popular options include:
- Cosmostation: A non-custodial multi-chain wallet that supports over 50 chains, including Coreum.
- Ledger: A hardware wallet that provides secure storage and allows you to send, receive, and stake Coreum tokens.
- Leap Wallet: An advanced wallet designed for Coreum and other Cosmos chains, offering features like on-chain governance voting and NFT management.
- FoxWallet: A multi-chain web3 wallet that supports Coreum and other blockchain networks.
- BitGo: A regulated custody service that provides financial services and core infrastructure for investors and builders.
- Edge: A multi-chain wallet that partners with various blockchain services.
- D’CENT: An ultra-secure hardware wallet using secure chip technology.
- Citadel.One: An all-in-one solution for wallet management, staking, and DeFi gateways.
- AirGap: A self-custody solution that allows offline transaction signing using a spare smartphone as a Cold Wallet.
To buy Coreum (COREUM) tokens, follow these steps:
Choose a Crypto Exchange: Select a reliable crypto exchange that supports Coreum trading, such as gate.io, MEXC, or Bitget. Compare fees, security features, and supported currencies before making a choice.
Create an Account: Register a free account on the chosen exchange's website or app. Provide required personal information, including your name and email address. You may need to complete Know Your Customer (KYC) verification to increase withdrawal limits and unlock additional features.
Deposit Funds: Deposit funds into your exchange account using a credit or debit card, bank transfer, or other supported payment methods. You can also transfer existing cryptocurrencies to the exchange.
Buy Coreum: Use the deposited funds to buy Coreum tokens. You may need to purchase a stablecoin like USDT first and then trade it for Coreum on the spot market.
Store Your Tokens: Once you have purchased Coreum, store them securely in a wallet supported by the exchange or transfer them to an external wallet for long-term storage.
Monitor Your Investment: Keep track of your Coreum investment performance and adjust your strategy as needed.
Remember to research and understand the fees, risks, and terms associated with each exchange and payment method before making a purchase.
