Core Chain’s Vision Paper Highlights How BTCfi Will Open The Door To A Trillion-dollar Bitcoin Economy

Title: Unlocking the Trillion-Dollar Potential of bitcoin in DeFi: Core Chain’s Vision Paper

February 27, 2024, Cayman Islands – Chainwire

Introduction: Bridging the bitcoin-DeFi Divide

The blockchain industry is witnessing an unprecedented wave of innovation in the decentralized finance (DeFi) sector, with new use cases and applications emerging every day. However, there is one significant player that has yet to fully enter the DeFi space – bitcoin. Core Chain, a leading blockchain technology company, aims to change this with its groundbreaking vision paper, “Unlocking bitcoin DeFi.”

Scaling bitcoin without Altering Its Base Layer

The paper presents several technological solutions aimed at scaling the bitcoin ecosystem without disrupting its foundational base layer. It highlights the limitations of existing layer 2 solutions and advocates for a novel approach that builds directly on top of bitcoin to achieve scalability while addressing capital efficiency, liquidity issues, and other barriers to mass adoption.

Transforming bitcoin from a Passive Asset into an Active One

Core Chain’s vision paper proposes a strategic roadmap to unlock bitcoin’s vast potential within the DeFi ecosystem, enabling it to transition from a passive store of value into an active, productive asset both on bitcoin’s L1 and in DeFi.

Innovative Solutions: Non-Custodial bitcoin Staking and CoreBTC

The paper introduces innovative solutions like non-custodial bitcoin staking and Core Chain’s native wrapped bitcoin (coreBTC), which are designed to transform bitcoin into an active participant in the DeFi space. These advancements will revolutionize the way bitcoin interacts with decentralized applications and establish it as a cornerstone of the burgeoning DeFi economy.

Bridging bitcoin and DeFi: A New Era of Financial Innovation

The paper emphasizes the importance of bridging the gap between bitcoin and DeFi to unlock a new realm of financial innovation and liquidity. Core Chain’s integration with ethereum Virtual Machine (EVM)-compatible smart contracts enables bitcoin holders to participate in DeFi markets without sacrificing Website security or custody.

A New Economic Paradigm: The Trillion-Dollar bitcoin Economy

With approximately $1 trillion worth of bitcoin in circulation, the potential for growth and innovation within the bitcoin DeFi ecosystem is immense. Core Chain’s vision paper sheds light on the transformative impact that unlocking this value could have on the global financial landscape, ushering in a new era of economic freedom, innovation, and opportunity.

CoreBTC: Addressing Trust Issues Associated with Traditional Wrapped bitcoin

A key highlight of the vision paper is the introduction of coreBTC, a Core Chain-native wrapped bitcoin that overcomes the centralization and trust issues associated with traditional wrapped bitcoin solutions. CoreBTC facilitates seamless interoperability between bitcoin and other blockchain networks, enabling a wide range of DeFi applications and services while maintaining the principles of decentralization and trustlessness.

About Core Chain

Core Chain is a bitcoin-powered layer one blockchain for EVM-compatible smart contracts. It utilizes a unique Satoshi Plus consensus mechanism, combining the best aspects of Proof of Work and Proof of Stake. Core Chain’s growing community of 2.2M Twitter followers, 250k Discord members, etc., represents millions of CORE holders, over 14M unique addresses, and 225M transactions since its mainnet launch a year ago.