As a seasoned crypto investor with a keen interest in decentralized finance (DeFi) and blockchain technology, I’m excited about the recent announcement of Animoca Brands joining forces with Core as a validator on its Layer-1 blockchain. This collaboration is significant for several reasons.
On Thursday, July 11, it was revealed by Core, the Bitcoin-powered Layer-1 blockchain, that Animoca brands are set to launch a validator on their network. This announcement follows efforts to enhance the security and resilience of the Core blockchain network.
Animoca Brands to Integrate dApps and Boot BTCfi
Validators play a pivotal part in confirming and authenticating transactions, ensuring the integrity of the ledger and enhancing the security of the Core blockchain. By acting as a validator, Animoca Brands is taking an active role in the administration and stability of the Core platform. Consequently, Animoca will be instrumental in helping Core realize its goal of releasing $1.3 trillion worth of dormant funds from the Bitcoin blockchain.
In addition to managing validators, Animoca Brands will work closely with Core’s key contributors and choose specific dApps from their collection of Web3 investments. This endeavor aims to encourage collaboration and ingenuity by leveraging the unique capabilities of various projects to propel BTCfi forward. Regarding this progression, Brendon Sedo, an Early Backer at Core, commented:
As a researcher studying the latest developments in the Web3 space, I’m thrilled to share that we’ve entered into a collaboration with Animoca Brands. By operating a validator on our Core network, Animoca Brands is making a significant contribution to securing the Core chain and enabling BTCFi. This partnership signifies the start of what we expect to be numerous future collaborations. I’m eager for what lies ahead and remain dedicated to ensuring that Core becomes the most Bitcoin-aligned blockchain, with Animoca Brands as an essential partner on this transformative journey.
Core and Animoca – The Perfect Match
The distinctive structure of the Core chain, underpinned by the Satoshi Plus Consensus Mechanism, fits seamlessly with Animoca Brands’ goal of creating and expanding possibilities for developers and decentralized applications (dApps).
As a researcher exploring blockchain technologies, I’ve come across the Core chain which offers exceptional security and scalability advantages. This makes it an appealing option for those aiming to take advantage of decentralized finance functionalities within the Bitcoin ecosystem.
Having Animoca Brands on board as a validator is a major advancement for Core in building a robust, decentralized, and streamlined blockchain system. With their extensive knowledge and proficiency in validator management across various blockchains, Animoca Brands significantly strengthens Core’s network performance.
At present, a grand total of 4,800 Bitcoin worth approximately $180 million is currently locked in the Core blockchain. This significant stake reinforces Core Chain’s standing as a leading option for developers, users, and institutional players in the Web3 landscape, with a strong focus on the BTCfi sector.
To boost its market presence, Animoca is also planning for a Hong Kong IPO next year in 2025.
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2024-07-12 10:24