On Thursday, July 11, Bitcoin-powered Layer-1 blockchain Core announced that Animoca brands 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.

Animoca Brands to Integrate dApps and Boot BTCfi

Validators have player 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, Animoc 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: Animoca Brands Eyes IPO In Hong Kong or Middle East In 2025

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.

The post Animoca Brands Launches Validator on Bitcoin L1 Core to Boost Security appeared first on CoinGape.

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Filed under: News - @ July 12, 2024 7:19 am