WEB3
by BSCN
July 12, 2024
The collaboration aims to enhance security and governance within Core's Bitcoin-powered blockchain, paving the way for the integration of Animoca Brands' Web3 dApps.
Core, the Bitcoin-powered layer-one blockchain for EVM-compatible smart contracts, has welcomed Animoca Brands as a new validator on its network.
New validator on Core - @animocabrands!
— Core DAO 🔶 (@Coredao_Org) July 11, 2024
Another step taken towards buiding a secure, decentralized, and efficient blockchain network, given @animocabrands' experience and expertise in validator operations across multiple blockchains. https://t.co/kpOeVBpM14
This strategic move would reportedly enhance Core's decentralization and signal a significant step forward in fostering collaboration within the Web3 ecosystem.
"By running a validator on the Core network, Animoca Brands is playing a crucial role in securing the Core chain and enabling BTCFi,” said Brendon Sedo, Initial Contributor at Core. “This partnership marks the beginning of what we anticipate to be many future collaborations.”
Validators play a crucial role in blockchain networks by verifying and validating transactions, ensuring decentralized ledgers' accuracy and security. By launching a validator on the Core Chain, Animoca Brands contributes directly to the network's stability and governance processes.
In addition to its validator role, Animoca Brands plans to collaborate closely with Core contributors to integrate select decentralized applications (dApps) from its extensive portfolio of Web3 investments. This initiative aims to leverage the strengths of both entities to drive innovation in Bitcoin finance (BTCFi) and expand opportunities within the ecosystem.
Core's architecture, supported by the Satoshi Plus Consensus Mechanism, emphasizes scalability and security, critical factors for projects operating in the decentralized finance (DeFi) space.
The partnership with Animoca Brands follows the introduction of Valour Inc.'s Bitcoin Staking ETP in partnership with Core Foundation. This financial product, offering exposure to Bitcoin with an annualized yield, underscores Core's growing influence in global financial markets.
Further, Core DAO continues to drive innovation through initiatives like the CORE Starter Program, designed to empower developers in creating secure and scalable dApps on Bitcoin.
Disclaimer
Disclaimer: The views expressed in this article do not necessarily represent the views of BSCNews. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. BSCNews assumes no responsibility for any investment decisions made based on the information provided in this article
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