Core Blockchain Now Available on Fireblocks, Expanding Institutional Access to Bitcoin-Powered DeFi

Core Concepts

Core, a Bitcoin-powered layer-one blockchain for EVM-compatible smart contracts, has integrated with Fireblocks, enabling institutional investors to securely custody CORE tokens, engage in Bitcoin-based decentralized finance (BTCFi), and leverage Fireblocks' Web3 development platform.

Abstract

The content discusses the integration of the Core blockchain with the Fireblocks platform, which provides a suite of applications to manage digital asset operations and a development platform for building blockchain-based businesses. Key highlights: Core is a Bitcoin-powered layer-one blockchain for EVM-compatible smart contracts, responsible for bringing Bitcoin finance to life with the first-ever non-custodial BTC staking protocol and the world's first yield-bearing BTC ETP. Core has amassed a large community of over 2.3 million Twitter followers and 265,000 Discord members, with over 18 million unique addresses and 252 million transactions since its mainnet launch in January 2023. Fireblocks is a platform that enables organizations in the financial, payments, and web3 space to securely scale their digital asset operations, having secured the transfer of over $4 trillion in digital assets. With the Fireblocks integration, Core has secured another significant institutional backing, allowing Fireblocks users to securely custody CORE tokens, engage in BTCFi, and leverage Fireblocks' Web3 Engine to build new products and services on the Core blockchain. The integration aims to extend institutional access to the Core blockchain and its Bitcoin-based decentralized finance (BTCFi) offerings.

Stats

Core has over 2,800 BTC natively staked to unlock Bitcoin utility and rewards. Fireblocks has secured the transfer of over $4 trillion in digital assets and has a unique insurance policy that covers assets in storage & transit. Fireblocks serves thousands of organizations in the financial, payments, and web3 space.

Quotes

"Core is responsible for bringing Bitcoin finance to life with the first-ever non-custodial BTC staking protocol." "With low fees, faster and more predictable block times, more than 80 user-friendly dApps, Core has emerged as the premier blockchain for Bitcoin-based finance thanks largely to BTC staking."

Key Insights Distilled From

Core is now available on Fireblocks, Extending Institutional Access to BTCFi

by Core Dao at medium.com 06-06-2024

https://medium.com/@core_dao/core-is-now-available-on-fireblocks-extending-institutional-access-to-btcfi-1547d2ffcc04

Deeper Inquiries

How does the Core blockchain's integration with Fireblocks compare to other institutional-grade blockchain platforms and their partnerships?

The integration of the Core blockchain with Fireblocks stands out due to its focus on Bitcoin-powered decentralized finance (BTCFi) and non-custodial BTC staking. This unique offering caters to institutional users looking to leverage Bitcoin utility and rewards securely. In comparison to other institutional-grade blockchain platforms, Core's partnership with Fireblocks provides a comprehensive suite of applications for digital asset operations and business development on the blockchain. The emphasis on BTCFi and the innovative non-custodial staking protocol set Core apart in the institutional blockchain space.

What are the potential risks and challenges associated with institutional adoption of Bitcoin-powered decentralized finance (BTCFi) platforms like Core?

Institutional adoption of Bitcoin-powered decentralized finance platforms like Core comes with several risks and challenges. One major concern is regulatory uncertainty surrounding BTCFi, as regulators worldwide are still developing frameworks for decentralized finance activities. Security risks related to smart contract vulnerabilities and potential exploits could also pose a threat to institutional users. Additionally, the volatility of the cryptocurrency market and the risk of market manipulation could impact the stability of BTCFi platforms. Ensuring compliance with anti-money laundering (AML) and know your customer (KYC) regulations is another challenge for institutions entering the BTCFi space.

How might the growing popularity of Bitcoin-aligned blockchains like Core impact the broader cryptocurrency and decentralized finance (DeFi) ecosystems?

The increasing popularity of Bitcoin-aligned blockchains like Core could have a significant impact on the broader cryptocurrency and decentralized finance ecosystems. As more users and institutions adopt Core for BTC staking and BTCFi activities, it could lead to greater integration between Bitcoin and Ethereum-based DeFi protocols. This integration could enhance interoperability between different blockchain networks and drive innovation in cross-chain decentralized finance solutions. The growth of Bitcoin-aligned blockchains may also influence the development of new financial products and services that bridge the gap between traditional finance and decentralized finance, further expanding the overall DeFi ecosystem.