Animoca Brands Launches Validator on Bitcoin L1 Core to Boost Security

Bhushan Akolkar
July 12, 2024
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Highlights

  • Animoca will serve as a validator to enhance the security and stability of the Core blockchain network.
  • Animoca Brands will work with Core contributors to integrate dApps from its Web3 investment portfolio.
  • With over 4,800 BTC staked, valued at $180 million, Core Chain is solidifying its position as a top choice for developers.

On Thursday, July 11, Bitcoin-powered Layer-1 blockchain Core announced that Animoca bBrands will be launching a validator on the Core chain. This development comes amid a push to boost the security and stability of the Core blockchain network.

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Animoca Brands to Integrate dApps and Boot BTCfi

Validators have played a crucial role in verifying and validating transactions while maintaining the ledger’s accuracy and thereby contributing to its overall security. Thus, by being a validator, Animoca Brands will be actively participating in the governance and stability of the Core blockchain. As a result, Animoca will be working on supporting Core’s vision of unlocking $1.3 trillion of trapped liquidity on the Bitcoin blockchain.

Along with running the validators, Animoca Brands will collaborate with Core contributors and select certain dApps from its portfolio of Web3 investments. This initiative seeks to foster collaboration and innovation by harnessing the strengths of multiple projects to advance BTCfi. Speaking on the development, Brendon Sedo, Initial Contributor at Core, said:

“We are thrilled to announce our collaboration with Animoca Brands, one of the most well-known companies in the Web3 space. By running a validator on the Core network, Animoca Brands is playing a crucial role in securing the Core chain and enabling BTCFi. This partnership marks the beginning of what we anticipate to be many future collaborations. We are excited about the future and remain committed to making Core the most Bitcoin-aligned blockchain, with Animoca Brands as a key partner in this journey.”

Also Read: SHIB Burn Skyrockets 4000% Amid Shiba Inu ETF Buzz

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Core and Animoca – The Perfect Match

The unique architecture of the Core chain backed by the Satoshi Plus Consensus Mechanism aligns perfectly with Animoca Brands’ mission of building and enhancing opportunities for ecosystem builders and dApps.

Additionally, the Core chain provides unparalleled security and scalability thereby making it an ideal choice for projects looking to leverage the benefits of decentralized finance on the Bitcoin network.

The addition of Animoca Brands as a validator represents a significant step in Core’s quest to establish a secure, decentralized, and efficient blockchain network. Animoca Brands also brings substantial experience and expertise in validator operations across multiple blockchains, enhancing Core’s network capabilities.

Currently, the Core blockchain has a total of 4,800 BTC staked, valued at a staggering $180 million. These developments solidify Core Chain as a top choice for developers, users, and institutions in Web3, particularly in the BTCfi sector.

To boost its market presence, Animoca is also planning for a Hong Kong IPO next year in 2025.

Also Read: Trump Vs Biden Election Outcome Unlikely To Deter Bipartisan Support For Crypto

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.