The Core Foundation, a key player in advancing the BTCfi ecosystem, has taken a substantial step toward enhancing security and decentralization within the Core blockchain by adding Solv to its validator network. This strategic move aims to support Core’s ongoing mission to expand its influence in Bitcoin staking and BTCfi spaces.
Validators are essential for the Core blockchain, ensuring that transactions remain legitimate, new blocks are produced reliably, and that the network’s rules and protocols are consistently upheld. The selection of Solv—a leading platform in Bitcoin staking—underlines Core’s ongoing focus on building a secure and decentralized ecosystem. As validators, Solv’s role involves both securing the Core network and validating user transactions, further strengthening Core’s infrastructure.
Recently, Solv received an $11 million funding boost, raising its valuation to $200 million and bringing its total capital to $25 million. This funding round involved prominent investors, such as Nomura subsidiary Laser Digital, Blockchain Capital, OKX Ventures, and Core Ventures, the Core blockchain’s strategic venture branch. The new funding aims to further expand Solv’s Staking Abstraction Layer (SAL), which seeks to make Bitcoin staking more accessible. Solv’s innovative SolvBTC product has already garnered attention with over 20,000 BTC ($1.3 billion) staked across major blockchain networks. A recent collaboration between Core and Solv led to the launch of SolvBTC.CORE, a liquid staking token for Bitcoin, where 500 SolvBTC were rapidly staked to SolvBTC.CORE, driven by Core’s incentive platform, Core Ignition Drop. This platform provides yield-enhancing opportunities for participants engaged in DeFi activities.
Core’s unique security architecture combines the established security of Bitcoin’s mining power with Ethereum-compatible blockchain features, leveraging approximately 55% of Bitcoin’s mining hash power. This model, powered by the Satoshi Plus consensus mechanism, blends Delegated Proof of Work (DPoW) with Delegated Proof of Stake (DPoS). Through this setup, Core harnesses Bitcoin’s security advantages while supporting smart contracts and decentralized applications. The validators within this system are elected through an epoch-based election cycle that considers the Bitcoin and CORE tokens staked in their favor and the Bitcoin hash power delegated to them. This rewards validators like Solv for their participation and enables them to share rewards with delegators who contribute CORE tokens or hash power.
The Core Foundation expects Solv’s addition to foster greater decentralization and stability within its network, increasing the overall trustworthiness of the blockchain ecosystem. As Core continues to evolve, such collaborations enhance confidence in its security model, attracting both institutional and individual participants eager to engage in a secure, decentralized framework.
In April 2024, Core launched its Non-Custodial Bitcoin staking, offering users a risk-free option to lock their Bitcoin in time-locked contracts to earn returns without relinquishing custody. This non-custodial model has proven popular, with nearly 5,000 Bitcoin staked as users look to generate yields without facing additional risk. Moreover, Core’s BTCfi ecosystem continues to grow, boasting over $400 million in total value locked (TVL) and more than 80,000 active daily users. Core’s ecosystem encompasses various decentralized applications, including DeFi, staking, payments, gaming, and NFTs, all of which are built on Bitcoin’s security foundation.
This latest integration marks a milestone for Core, highlighting its commitment to strengthening its position as a secure, Bitcoin-aligned blockchain platform. The foundation’s strategic partnerships, expanding validator set, and innovative solutions like the Staking Abstraction Layer reflect Core’s ambition to lead in the BTCfi and Bitcoin staking domains, paving the way for broader adoption and confidence in its network’s decentralized architecture.