Core will provide Dual Staking for bitcoin and CORE, adding more yield for stakers
Core Blockchain Overview - August 1, 2024
Welcome to the Core Blockchain Overview. A one-stop-shop for the Core community to get up to speed on the network’s latest updates, metrics, releases, insights, ecosystem developments and more. All in one place.
New here? Subscribe here to get updates to your inbox. Every other Thursday. 🔔
The Core blockchain by the numbers
Network’s daily transactions: 258.18K (-15.65%)
Total unique addresses: 19.71M (+1.28%)
ERC-20 daily tokens transferred: 215.63K (-8.49%)
Total CORE delegated: 136.42M (+3.00%)
Total BTC staked: 4,866 bitcoin (+1.10%)
Top 3 Core validators by hybrid score:
The metrics are accurate at the time of publication. The percentage change is over a 14-day period.
Inside the network
🔸What we’re watching: Core network recently announced Dual Staking for bitcoin and CORE holders to strengthen rewards for bitcoin staking.
🔸Why it matters: Dual Staking utilizes Core's non-custodial bitcoin staking, a process that allows users to retain their bitcoin while earning CORE rewards simultaneously. Participants can enhance yield potential from their bitcoin holdings by staking both bitcoin and CORE.
The team sees its Dual Staking model as a milestone for the Core network and further aligns its mission of pushing the limits of bitcoin through smart contracts. This upgrade provides the opportunity to hold bitcoin from solely a store of value into a yield-bearing asset that can attract both individual investors and institutional players.
This introduction can expand bitcoin's utility and offer new yield for bitcoin holders and token holders in the Core ecosystem.
“This is really important because the idea is sustainability in symbiosis between these 2 ecosystems,” Rich Rines, initial contributor at Core Foundation said on the Talking Tokens podcast. “That is what will keep both operating in the long run.”
🔸The bigger picture: Dual Staking's introduction not only expands individual yields but also solidifies an economic relationship between Bitcoin and CORE. The CORE token rewards that both bitcoin stakers and bitcoin miners receive for contributing to Core’s security now have another function through Dual Staking.
If the demand for bitcoin yield continues to grow, CORE tokens could become the gateway to more bitcoin-native yields and its role in the future of onchain finance.
Scaling the ecosystem
NLX partnered with XLink to provide APR for users leveraging bitcoin on its platform
Core released its open forum platform sharing the network’s latest updates and ecosystem discussion
Soft Contracted deployed its services for token launches and distributions on the Core network
Footprint Analytics partnered with Core to provide multi-chain data insight and Core network analytics
Core network exceeded over 269M total transactions, making it the most used network across all Bitcoin-powered networks (shown below)
Source: BTCEcosystem on X
Check out the Core blog for more updates.
Into the Core community
Listen to Rich Rines, an initial contributor at Core Contributor, said on the Talking Tokens Podcast
Tune in to A blocmates Orange’s video and learn more about Core’s product and how its helping scale Bitcoin
Wu Blockchain interviewed Rich Rines and he shared his thoughts on the Bitcoin ecosystem
Core Builders hosted its monthly developer community call to discuss the ecosystem’s latest news
PlayZap Games CEO Abishek Buchvani shared his vision and integration into the Core network on an AMA with Core Contributor Ahmed Tehemar
Join in the fun
Want to dive deeper into the Core blockchain?
Join the Core Ambassador program and help grow the ecosystem
Check out the Core Ecosystem Board for opportunities with companies building on the network
Take part in Core’s Ignition sparks drop multiplier campaign and claim rewards on staked CORE
To get this newsletter delivered to your inbox every other Thursday, subscribe here.
This product was built by Token Relations.
This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.