Animoca Brands Joins Core Network As Validator Node And Collaborates On DApp Integration

Published: July 12, 2024 at 7:13 am Updated: July 12, 2024 at 7:13 am

Edited and fact-checked:
July 12, 2024 at 7:13 am

In Brief

Core unveiled that Animoca Brands launched a validator node on its network to engage in governance and contribute to blockchain stability.

Bitcoin-powered Layer 1 blockchain Core unveiled that Animoca Brands has implemented its validator node on the network. Validators play a critical role in verifying transactions, ensuring the accuracy of the ledger, and enhancing the security of the network. As a validator, Animoca Brands will engage in governance and contribute to the stability of the Core blockchain.

Apart from operating a validator node, Animoca Brands intends to work jointly with Core contributors to incorporate decentralized applications (dApps) from its investment portfolio. This will facilitate collaboration utilizing the potencies of various projects to advance the DeFi capabilities of the Bitcoin ecosystem–BTCfi.

Animoca Brands specializes in digital entertainment, blockchain technology, and gamification. It utilizes blockchain to offer digital property rights to global clients, influencing the growth of an open metaverse.

What Does Core Chain Offer?

Core Chain represents the Layer 1 network compatible with Ethereum Virtual Machine (EVM), with an objective to serve as a scalable smart contract platform complementary to Bitcoin. Its main innovation lies in the Satoshi Plus consensus mechanism, that blends Delegated Proof of Work (DPoW), Delegated Proof of Stake (DPoS), and Non-custodial Bitcoin Staking.

Utilizing this mixture, Core Chain facilitates the security of Turing-complete smart contracts for Bitcoin miners, extending their role from simply maintaining the Bitcoin ledger to enabling them to earn extra revenue via CORE token incentives.

With its architecture bolstered by the Satoshi Plus Consensus Mechanism and an emphasis on BTCfi, Core aligns closely with Animoca Brands‘ dedication to broadening the opportunities within the Bitcoin ecosystem for builders and dApps. It boasts high scalability and security, positioning itself as a preferred platform for projects interested in harnessing the benefits of decentralized finance (DeFi) on Bitcoin.

At present, Core Chain has recorded over 4,800 BTC staked, representing a total value reaching more than $180 million. This value positions Core Chain attractively for builders, users, and institutions in the Web3 space, particularly within BTCFi.

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About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

Alisa Davidson