Core Chain Introduces Bitcoin Staking Feature, Opening New Possibilities for Investors

According to a recent report by Decrypt, Core Chain, a prominent Bitcoin-powered blockchain platform, has ignited a spark in the cryptocurrency industry with the introduction of a new feature: non-custodial Bitcoin staking. This innovative offering allows users to finally earn yield on their Bitcoin holdings directly, without ever surrendering control of their assets.

Traditionally, staking has been a cornerstone of proof-of-stake blockchains, a functionality not available to holders of Bitcoin, which operates on a proof-of-work consensus mechanism. Core Chain disrupts this paradigm with its pioneering Satoshi Plus consensus mechanism, a hybrid of Delegated Proof of Work (DPoW) and Delegated Proof of Stake (DPoS). This ingenious system empowers users to participate in the network and earn rewards while maintaining complete security of their Bitcoin holdings.

Previously, staking Bitcoin involved a process known as wrapping, essentially giving up custody of the underlying asset. Core Chain's non-custodial staking eliminates this risk entirely, offering a truly unique and secure solution for investors seeking to maximize the potential of their Bitcoin holdings.

This revolutionary development coincides with exciting news from Valour, a subsidiary of DeFi Technologies Inc. In collaboration with the Core Foundation, Valour is launching a yield-bearing Bitcoin exchange-traded product (ETP) alongside a Core ETP.

The yield-bearing BTC ETP offers investors direct returns derived from Core Chain's block rewards, while the Core ETP provides an alternative avenue for gaining indirect exposure to the staking opportunities offered by Core Chain.

Further bolstering confidence in Core Chain's innovative approach, Valour has pledged to commit a substantial $100 million in BTC to be staked through their system.

This groundbreaking development arrives on the heels of a series of positive announcements from Core. They recently launched the Core Venture Network, a $15 million fund dedicated to supporting builders in emerging markets. Additionally, they introduced a native NFT marketplace and CoreBTC, a bridge facilitating the transfer of BTC onto the Core Chain.

Resources:

Decrypt