Animoca Brands has launched a validator on the Core blockchain, a Layer1 network powered by the Bitcoin blockchain.
The launch of this validator represents a significant move between Core and Animoca Brands, reinforcing the security and decentralization of the network, highlighting Animoca's confidence in the potential of this blockchain.
As announced by the company Web3, both entities have plans to collaborate on the integration of decentralized applications (dApps) to drive innovation in the Bitcoin-based finance (BTCFi) ecosystem, taking advantage of Core's unique architecture and its consensus mechanism. Satoshi Plus.
Greater adoption and security on the Core network
The collaboration between Core and Animoca Brands promises to further drive adoption and security of Core's network. With the impressive number of unique addresses and transactions, along with the integration of Bitcoin's hash power, the Core network is well positioned to lead in the decentralized finance space.
Likewise, the participation of Animoca Brands as a validator in the Core blockchain reinforces the security and decentralization of this blockchain. Additionally, participation as a validator gives the Web3 company a role in the governance and stability of Core.
Beyond validation functions, Animoca Brands plans to integrate some of its Web3 applications with Core, which could drive innovation and collaboration in the BTCFi space. This initiative has the potential to attract new use cases and users to the network, further strengthening the digital ecosystem.
What is Core? Flexibility and security in a blockchain
Core is a Layer 1 blockchain that combines the security of Bitcoin with the flexibility of Ethereum. The network uses a hybrid consensus mechanism called Satoshi Plus, which integrates Bitcoin's proof-of-work (PoW) and delegated proof-of-stake (DPoS) to secure the network and validate transactions. This consensus mechanism allows Core to offer fast and secure transactions, as well as the ability to run smart contracts and decentralized applications (dApps) on Bitcoin.
The team behind Core has developed several innovations to improve network scalability and efficiency, which has contributed to its rapid growth in terms of total value locked (TVL). Additionally, Core focuses on interoperability, allowing different blockchains to connect and work together more effectively.
Core's architecture truly aligns with Animoca Brands' vision for developing Bitcoin and creating opportunities for dApp developers. The Core blockchain stands out for its focus on scalability and security, making it an attractive option for decentralized finance (DeFi) projects on the Bitcoin network.
Additionally, their non-custodial BTC staking protocol is notable, with over 4400 BTC staked, valued at over $280 million. This demonstrates trust and interest in the Core network from the community.
The scope of Aminoca's integration as a Core validator
The collaboration between Core and Animoca Brands is a significant step for the blockchain ecosystem. With this, Animoca Brands, known for its investments in more than 450 Web3 projects, is not only strengthening its commitment to the development of blockchain technology, but could also attract more developers and users to the Core ecosystem.
Brendon Sedo, an early Core contributor, he highlighted the importance of this collaboration for the future of BTCFi and the alignment of Core with Bitcoin.
Source: DeFi Llama
At this point, it is worth noting that BTCFi or Bitcoin DeFi, is an emerging sector that introduces decentralized finance (DeFi) capabilities into the Bitcoin blockchain ecosystem. By leveraging Bitcoin's robust security and extensive network, BTCFi allows BTC holders to generate returns through DeFi activities such as lending, decentralized exchanges, and more. This integration seeks to combine DeFi functionalities, commonly associated with Ethereum, with the pioneering blockchain network, Bitcoin, offering new opportunities and growth potential in the crypto space.
Core has been one of the drivers of this development on Bitcoin and, thanks to this, it has experienced amazing growth, multiplying its TVL by 5 times in one month and by 40 times in the last four months, which represents an impressive achievement for the project.
On the other hand, it seems that the team behind Core, which is really innovating and creating solutions that resonate with the community, are "cooking" something special in the world of cryptocurrencies, which has led them to be compared to "chefs" in a perfect metaphor.
