In a significant development for the blockchain community, Core DAO has announced that Animoca Brands will serve as a validator on its Bitcoin-powered blockchain. This partnership is set to bolster the security and governance of the Core network, which is designed for EVM-compatible smart contracts.
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Strengthening Network Security
Validators play a crucial role in blockchain networks by verifying and validating transactions, maintaining ledger accuracy, and contributing to overall network security. By becoming a validator, Animoca Brands is actively participating in the governance and stability of the Core blockchain. This move underscores Animoca Brands’ confidence in Core’s potential and its commitment to supporting the network’s security and decentralization.
Driving Innovation in BTCfi
In addition to enhancing security, Animoca Brands will collaborate with Core contributors to integrate decentralized applications (dApps) from its extensive Web3 investment portfolio. This initiative aims to foster innovation and collaboration, leveraging the strengths of multiple projects to advance Bitcoin finance (BTCfi). Core’s unique architecture, supported by the Satoshi Plus Consensus Mechanism, aligns with Animoca Brands’ mission to build on Bitcoin and create new opportunities for ecosystem builders and dApps.
Unlocking Trapped Liquidity
Core’s vision includes unlocking over $1.3 trillion of trapped liquidity on the Bitcoin network. With over 4,800 BTC staked, valued at $180 million, Core is solidifying its position as a top choice for developers, users, and institutions in the Web3 space. The support from Animoca Brands is expected to accelerate Core’s progress and fuel the mass adoption of BTCfi.
A Promising Partnership
Brendon Sedo, an initial contributor at Core, expressed excitement about the collaboration:
“We are thrilled to announce our partnership with Animoca Brands, one of the most well-known companies in the Web3 space. By running a validator on the Core network, Animoca Brands is playing a crucial role in securing the Core chain and enabling BTCfi. This partnership marks the beginning of what we anticipate to be many future collaborations. We are excited about the future and remain committed to making Core the most Bitcoin-aligned blockchain, with Animoca Brands as a key partner in this journey”.
With Animoca Brands’ experience and expertise in validator operations across multiple blockchains, Core is well-positioned to achieve its ambitious goals.
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