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Core DAO Pioneers Bitcoin Transfers: A New Era for BTC in DeFi

Andrew LeeAndrew Lee5h ago

Core DAO Pioneers Bitcoin Transfers: A New Era for BTC in DeFi

In a groundbreaking development for the cryptocurrency world, Core DAO has introduced a revolutionary approach to Bitcoin (BTC) transfers, integrating the world's leading cryptocurrency into the decentralized finance (DeFi) ecosystem. As reported by Bitcoin World, this initiative positions Core DAO as a key player in expanding Bitcoin's utility beyond a mere store of value.

The Core blockchain, known for its high transaction processing speed (TPS) and innovative Proof of Stake mechanism, now enables BTC holders to participate in DeFi activities like staking and yield farming. This marks a significant shift, as Bitcoin has traditionally been limited in its functionality within DeFi spaces due to its lack of native smart contract capabilities.

Through Core DAO's unique Satoshi Plus consensus, which combines elements of Delegated Proof of Work (DPoW) and Delegated Proof of Stake (DPoS), users can engage in non-custodial Bitcoin staking. This allows BTC holders to earn rewards while maintaining control over their assets, a feature previously unavailable on most platforms.

The integration also leverages the Ethereum Virtual Machine (EVM) compatibility of the Core Chain, making it the first blockchain to align Bitcoin with smart contract functionality. This opens up a plethora of opportunities for developers to build DeFi applications directly involving BTC, potentially increasing its adoption in diverse financial solutions.

Furthermore, the native token of the network, CORE, plays a pivotal role in facilitating transactions, governance, and utility functions within this ecosystem. As Bitcoin transfers become more seamless on the Core blockchain, the demand for CORE is expected to rise, potentially impacting its market value and visibility in the crypto space.

This advancement by Core DAO could redefine Bitcoin's role in the financial landscape, transforming it into a dynamic asset for modern decentralized systems. As the crypto community watches closely, the implications of this technology may lead to broader acceptance and innovative use cases for BTC in the near future.


More Pictures

Core DAO Pioneers Bitcoin Transfers: A New Era for BTC in DeFi - BitcoinWorld (Picture 1)

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