Clore coin
Last updated
Last updated
What is CLORE coin?
Clore Coin (CLORE) is central to the Clore.ai platform, built on principles of fairness, transparency, and decentralization. Unlike many cryptocurrencies, CLORE was launched without a premine or ICO, allowing anyone to participate in mining from the very beginning. This approach ensures that the network remains decentralized, with mining accessible to individuals using standard consumer GPUs.
ASIC Resistance and Decentralization
Clore Coin is specifically designed to be ASIC-resistant, preventing the dominance of specialized mining hardware and maintaining a decentralized network. By ensuring that mining is only possible with consumer GPUs, CLORE promotes a fair and democratic mining ecosystem, where power is not concentrated in the hands of a few large entities but distributed across a wide base of participants.
Limited Supply and Reward Structure
With a fixed maximum supply of 1.3 billion coins, CLORE’s scarcity is baked into its economic model. The block reward system started at 542 coins per block in December 2022 and decreases gradually over time, providing controlled inflation that ensures sustainable growth while maintaining the coin's value over the long term. As of July 2023, the block reward has already reduced to 473 coins, exemplifying this gradual reduction.
Reward Distribution and Ecosystem Sustainability
The distribution of mining rewards is a critical aspect of CLORE's tokenomics, designed to balance and sustain the ecosystem. Miners are allocated 50% of the block rewards, incentivizing them to maintain the network's security and efficiency. GPU hosters, who are crucial to the Clore.ai marketplace, receive 40% of the rewards. This allocation encourages more individuals and organizations to offer their GPU resources, bolstering the marketplace's capacity and competitiveness. The remaining 10% of the rewards are directed to the Clore team, funding ongoing development, infrastructure maintenance, and future innovation, ensuring the platform's continuous improvement and long-term viability.
