Core has made a groundbreaking entrance into the world of crypto finance by launching a Bitcoin staking protocol, setting a new standard for innovation. This milestone event signals the beginning of a new era, as Core becomes the pioneer in introducing live Bitcoin staking to the realm of cryptocurrency investments.
Since its launch in January 2023, the platform has already attracted over 2,900 BTC staked through its unique Satoshi Plus consensus algorithm. This algorithm not only enhances the security of the Bitcoin network but also enables users to earn Core block rewards, offering a novel way to generate yield on their Bitcoin holdings without taking on additional risks.
One of the key features that sets Core apart is its ability to maintain Bitcoin security and performance while also providing staking opportunities. By leveraging the native capabilities of Bitcoin, users can stake their BTC while retaining full ownership of their funds, without the common risks associated with traditional staking protocols.
Unlike other platforms where stakers face the possibility of having their assets slashed, Core offers a non-custodial service that eliminates such risks, providing peace of mind to Bitcoin holders. The staking process on Core is fully non-custodial, with BTC locked directly on the blockchain using established Bitcoin primitives instead of smart contracts.
By emphasizing the security derived from Bitcoin’s foundation and avoiding new trust assumptions or slashing risks, Core’s approach is likely to resonate with the community. In addition to enhancing Bitcoin security, Core’s system rewards stakers over an 81-year period, distributing interest payments generated from a combination of CORE block rewards and transaction fees.
Looking towards the future, Core plans to introduce liquid BTC staking, allowing stakers to participate in DeFi applications while earning returns on their capital. This initiative aims to boost liquidity and utility in the Bitcoin finance ecosystem, making it more accessible to a wider range of users.
Furthermore, Core’s strategic vision includes expanding the use of the Satoshi Plus consensus mechanism to enhance the security and utility of various application Blockchains, or ‘App Chains’, operating on its network. This expansion is set to further strengthen the ecosystem and pave the way for future growth in the realm of cryptocurrency investments.
Tags: BTC
