As a seasoned researcher in the dynamic world of blockchain and cryptocurrencies, I find this partnership between Hashnote and Core particularly intriguing. With my years of experience in tracking and analyzing market trends, I can confidently say that this collaboration is a strategic move to tap into the rapidly growing $47 billion Bitcoin layer-2 bridging market by 2030.
Hashnote, an asset management platform operating on-chain, intends to tap into the promising $47 billion Bitcoin bridge market by strategically partnering with Core, a proof-of-stake infrastructure designed specifically for Bitcoin.
Essentially, the Core serves as a comprehensive Proof of Stake foundation for Bitcoin (BTC), facilitating non-custodial Bitcoin staking. This platform, launched in January 2023, nurtures an Ethereum Virtual Machine-compatible Bitcoin financial ecosystem, often referred to as BTCfi. In simpler terms, Core is a complete Bitcoin staking system that doesn’t require custody of your coins, and it supports a Bitcoin finance ecosystem similar to Ethereum.
Based on a report published on crypto.news, it’s been announced that Hashnote plans to leverage Core’s technology, enabling users to earn Bitcoin returns without incurring extra credit or safekeeping risks.
Through this partnership, we’re highlighting the increasing need for safe, eco-friendly, and expandable Bitcoin income options, particularly among large financial entities. Hashnote’s dominance in this field paves the way for a thrilling, innovative chapter in Bitcoin Decentralized Finance.
Hong Sun, Institutional contributor at Core
Users can leverage Core’s dual staking feature to boost their earnings by not only staking Bitcoin but also Core, the native token within the Core network. Essentially, using Hashnote provides an opportunity for users to invest in Bitcoin while simultaneously gaining higher returns via yields.
Through Core’s non-custodial Bitcoin staking system, Hashnote retains complete control over the staked Bitcoins. Since it employs Bitcoin’s native timelock, the staking mechanism lacks elements like trust assumptions, penalties for inactivity (slashing), and risk associated with counterparties.
Hashnote intends to leverage this partnership as a means to make its mark in the flourishing Bitcoin layer-2 linking market, which some experts predict could blossom into a $47 billion network by 2030. As per DeFiLlama, Core currently holds over 30% of the combined value stored in Bitcoin sidechains.
Since April 2024, the platform has accumulated more than 5,300 Bitcoins in staking, and the Total Value Locked (TVL) on its mainnet has grown to approximately $920 million.
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2024-12-05 20:20