The Core Foundation Takes a Major Step Forward, Adding Solv to Its Validator Network

The Core Foundation, a key player in advancing the BTCfi ecosystem, has taken a substantial step toward enhancing security and decentralization within the Core blockchain by adding Solv to its validator network.

Core, a blockchain platform known for its role in advancing the BTCfi ecosystem, has taken a significant step by adding Solv to its validator network. This move aims to enhance security and decentralization within the Core blockchain.

As a validator in the Core blockchain, Solv is responsible for ensuring the legitimacy of transactions, the reliable production of new blocks, and the consistent adherence to the network's rules and protocols.

Solv, a platform specializing in Bitcoin staking, was chosen by Core due to its focus on building a secure and decentralized ecosystem. Solv's role as a validator involves both securing the Core network and validating user transactions, further contributing to Core's infrastructure.

Recently, Solv secured $11 million in funding, increasing its valuation to $200 million and bringing its total capital to $25 million. This funding aims to expand Solv's Staking Abstraction Layer (SAL), which is designed to make Bitcoin staking more accessible. Solv's SolvBTC product has already seen success with over 20,000 BTC ($1.3 billion) staked across major blockchain networks.

A collaboration between Core and Solv led to the launch of SolvBTC.CORE, a liquid staking token for Bitcoin. Within hours, 500 SolvBTC were rapidly staked to SolvBTC.CORE, an event driven by Core's incentive platform, Core Ignition Drop. This platform offers yield-enhancing opportunities for participants engaged in DeFi activities.

Core's unique security architecture combines the strength of Bitcoin's mining power with features of an Ethereum-compatible blockchain, utilizing approximately 55% of Bitcoin's mining hash power.

This model, powered by the Satoshi Plus consensus mechanism, integrates Delegated Proof of Work (DPoW) with Delegated Proof of Stake (DPoS). Through this setup, Core leverages Bitcoin's security advantages while supporting smart contracts and decentralized applications.

Within this system, validators are elected through an epoch-based election cycle that considers the Bitcoin and CORE tokens staked in their favor and the Bitcoin hash power delegated to them. This allows validators like Solv to share rewards with delegators who contribute CORE tokens or hash power.

The Core Foundation anticipates that Solv's addition will foster greater decentralization and stability within its network, ultimately increasing the blockchain ecosystem's trustworthiness.

As Core continues to evolve, such collaborations strengthen confidence in its security model, attracting both institutional and individual participants seeking to engage in a secure and decentralized framework.

In April 2024, Core launched its Non-Custodial Bitcoin Staking, offering users a risk-free option to lock their Bitcoin in time-locked contracts to earn returns without relinquishing custody.

This non-custodial model has proven popular, with nearly 5,000 Bitcoin staked as users look to generate yields without facing additional risk.

Moreover, Core's BTCfi ecosystem has grown rapidly, boasting over $400 million in total value locked (TVL) and more than 80,000 active daily users. Core's ecosystem includes various decentralized applications, such as those in DeFi, staking, payments, gaming, and NFTs, all of which are built on Bitcoin's security foundation.

This latest integration marks a significant achievement for Core, highlighting its dedication to strengthening its position as a secure, Bitcoin-aligned blockchain platform. The foundation's strategic partnerships, expanding validator set, and innovative solutions like the Staking Abstraction Layer pave the way for Core to lead in the BTCfi and Bitcoin staking domains, ultimately driving broader adoption and confidence in its network's decentralized architecture.

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