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Bitcoin on Core Chain Offers New Opportunities for Investors
The Bitcoin-powered layer-one blockchain Core Chain has introduced a groundbreaking feature that allows investors to stake their BTC, a capability that has traditionally been unavailable to BTC holders. Staking tokens typically reward users with a percentage yield over time, a benefit that was previously exclusive to proof-of-stake blockchains. However, Core Chain’s implementation of the Satoshi Plus consensus mechanism, which combines Delegated Proof of Work (DPoW) and Delegated Proof of Stake (DPoS), now enables BTC holders to participate in staking and earn yield.
In the past, traders could stake Bitcoin by wrapping the token or relinquishing custody of their assets. Core Chain’s innovative solution eliminates these requirements, offering a “first-of-its-kind” non-custodial BTC staking experience. This development represents a significant step forward in enhancing the utility of the Ethereum Virtual Machine-compatible blockchain.
Collaborative Initiatives in the Digital Asset Space
As part of this advancement, DeFi Technologies Inc.’s subsidiary, Valour, has unveiled a yield-bearing BTC exchange traded product (ETP) and a unique Core ETP in partnership with the Core Foundation. The yield-bearing BTC ETP will provide investors with yield directly from Core Chain’s block rewards, while the Core ETP aims to broaden investor access to Core’s staking opportunities through indirect exposure.
Olivier Roussy Newton, CEO of DeFi Technologies, emphasized the evolution of digital assets, highlighting the convergence of traditional finance and decentralized finance. By integrating yield-bearing opportunities for Bitcoin through these ETPs, investors are presented with innovative ways to engage with the leading cryptocurrency.
Valour also plans to manage a validator node on the Core Blockchain and has committed to staking $100 million in BTC through the new non-custodial staking product. These strategic initiatives demonstrate a concerted effort to leverage Core Chain’s capabilities and drive growth in the digital asset ecosystem.
Recent Milestones and Future Prospects
Core’s recent initiatives have positioned the project for continued success. In March, the Core Foundation launched the Core Venture Network, allocating $15 million in funding to support builders in key regions such as Africa, Latin America, and Southeast Asia. This strategic investment underscores Core’s commitment to fostering innovation and fostering growth in emerging markets.
Subsequently, Core introduced a new NFT marketplace native to its blockchain and launched CoreBTC to facilitate seamless integration between BTC and the Core Chain. These developments culminated in a remarkable 218% surge in the value of the CORE token within a single week, underlining the market’s positive response to Core’s vision and strategic roadmap.
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