Core is the Kernel.
Windows 8's Core/Kernel is based upon Windows 7, which in turn is based upon Windows Vista, Which in turn is based upon Windows XP, which in turn is based upon Windows 2000, which in turn is based on Windows NT which dates back 20 years. :)
As a fun fact the Xbox and Xbox 360 use an NT based kernel for their Operating Systems too, which have shown to be relatively lax in it's memory and CPU usage, consistently beating out Sony and Nintendo's consoles OS's.
What would interest me is how "full featured" the operating system is or if will they go for another closed garden approach like they did with the Xbox and the 360, where regardless of the OS/Kernel, people would never be able to tell it's powered by Windows.

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