Core has made history with the debut of a Bitcoin staking protocol bringing a hallmark innovation to the world of crypto finance. This marks the dawn of a new era beyond five years from now with Core bringing the very first live Bitcoin staking to the world of cryptocurrency investments.
Launched in January 2023, the platform now has over 2,900 BTC staked using its proprietary Satoshi Plus consensus algorithm. As the mechanism improves the security of the Bitcoin network, it allows you to earn Core block rewards, providing a new way to earn yield on Bitcoin you hold without adding risk.
Unique Staking Features
Core emerges as a unique solution, that on one hand sustains Bitcoin security and performance over its native capabilities and on the other allows for staking. The platform utilizes the native Bitcoin capabilities in order to lock the BTC for staking while the users still maintain full ownership of their funds, and are able to avoid issues that are common in traditional staking protocols.
In contrast to other platforms, where stakers’ assets are subject to slashing, with Core you get a non-custodial service that avoids such risks while offering Bitcoin holders peace of mind.
Core has a fully non-custodial BTC staking method, where BTC locked natively on the blockchain with tried-and-true Bitcoin primitives (as opposed to smart contracts).
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— Core DAO 🔶 (@Coredao_Org) June 17, 2024
By relying on the security that comes from Bitcoin’s foundation and not introducing new trust assumptions here nor a slashing risk found with other staking models, this scheme may be preferred by the community.
In addition to providing a more dynamic form of Bitcoin security, Core’s system incentivizes stakers over the course of 81 years and redistributes rewards in the form of interest payments derived from a combination of CORE block rewards and transaction fees.
Expanding the Ecosystem and Future Prospects
For the future, Core will introduce liquid BTC staking where stakers can stake their Bitcoin and get involved with DeFi applications while earning a return on their capital. Developed to strengthen liquidity and utility in the Bitcoin finance economy, putting it in reach and use for more users.
In addition, Core’s strategic vision is to extend the use of the Satoshi Plus consensus mechanism to transform a large number of application Blockchains or ‘App Chains’ running on its network, boosting their security and utility.
