Solv Strengthens Core Blockchain with Its Addition as a New Validator

The
Core
Foundation,
the
entity
committed
to
growing
Core’s
leading
BTCfi
ecosystem,
has
announced
the
addition
of Solv to
its
validator
set,
a
significant
step
in
enhancing
the
security
and
decentralization
of
the
Core
blockchain
ecosystem.
The
move
comes
as
the
network
continues
to
expand
its
footprint
in
the
Bitcoin
staking
and
BTCfi
space.

Validators
on
the
Core
blockchain
play
a
crucial
role
in
maintaining
the
integrity
of
the
network.
They
validate
transactions,
produce
new
blocks,
and
ensure
that
the
blockchain
adheres
to
its
rules
and
protocols.
Solv,
the
leading
Bitcoin
Staking
Platform,
will
now
help
safeguard
the
Core
ecosystem.
Their
election
as
validators
underscores
Core’s
commitment
to
building
a
robust
and
secure
network.

This
addition
comes
as
Solv
has
recently
announced
that
it
has successfully
raised
$11
million
at
$200
Valuation, bringing
its
total
funding
to
$25
million.
The
new
capital
will fuel
the
expansion
of
their
Staking
Abstraction
Layer
(SAL),
advocating
to
drive
mass
adoption
of
Bitcoin
Staking.
The
round
included Nomura subsidiary Laser
Digital, Blockchain
Capita, OKX
Ventures,
and
Core
Ventures,
the
strategic
venture
arm
of
the
Core
blockchain.
Solv
Protocol’s
SolvBTC
product
has
more
than
20,000
BTC
staked
($1.3
billion)
deployed
across
10
major
blockchain
networks.
More
recently
in
early
October,
Core
and
Solv
joined
forces
to
launch SolvBTC.CORE,
a
Liquid
Staking
Token
for
Bitcoin,
where
500
SolvBTC
were
staked
to
SolvBTC.CORE
in
under
2
hours.
Contributing
to
this
traction
is Core
Ignition
Drop,
an
incentive
platform
where
participants
can
further
enhance
their
yields
through
DeFi
activities.
 

“At
Solv,
we
are
thrilled
to
join
forces
with
Core
as
a
validator
and
to
contribute
to
securing
the
next
wave
of
Bitcoin
innovation.
With
SolvBTC.CORE,
we
enable
users
to
stake
their
Bitcoin
and
earn
real
yields,
while
keeping
full
liquidity
and
tap
into
DeFi
applications.
Our
Staking
Abstraction
Layer
(SAL)
simplifies
and
standardizes
Bitcoin
staking.
SolvBTC.CORE
is
one
of
the
first
products
introduced
within
the
SAL
framework,
serving
as
a
testament
to
our
mission
of
making
Bitcoin
staking
more
accessible
to
everyone,”
said
Ryan
Chow,
Co-founder
&
CEO
of
Solv
Protocol.

Core’s
unique
approach
to
security
combines
Bitcoin’s
mining
power
with
an
Ethereum-compatible
blockchain
infrastructure.
Around
55%
of
Bitcoin’s
mining
hash
power
contributes
to
securing
Core,
which
operates
using
the
Satoshi
Plus
consensus
mechanism—an
innovative
model
that
merges
Delegated
Proof
of
Work
(DPoW)
with
Delegated
Proof
of
Stake
(DPoS).
This
allows
Core
to
benefit
from
Bitcoin’s
established
security
while
supporting
smart
contract
execution
and
decentralized
applications.

The
validators’
role
goes
beyond
just
security.
Through
an
epoch-based
election
cycle,
validators
like
Solv
are
elected
based
on
the
Bitcoin
and
CORE
tokens
staked
in
their
favor,
as
well
as
the
Bitcoin
hash
power
delegated
to
them.
Validators
are
rewarded
for
their
efforts
and
share
these
rewards
with
delegators
who
stake
CORE
tokens
or
contribute
hash
power.

With
the
addition
of
Solv,
Core
aims
to
further
decentralize
its
network
while
increasing
the
trust
and
stability
of
the
blockchain.
As
Core
continues
to
grow,
these
collaborations
highlight
the
increasing
confidence
in
the
network’s
security
model,
attracting
both
institutional
and
individual
participants.

Core
launched Non
Custodial
Bitcoin
staking in
April
2024,
allowing
users
to
earn
a
risk-free
return
by
locking
their
Bitcoin
in
time-locked
contracts,
without
giving
up
custody.
This
product
has
seen
significant
adoption,
with
nearly
5,000
Bitcoin
staked,
as
it
provides
an
opportunity
for
Bitcoin
holders
to
generate
yield
without
additional
risks.
Furthermore,
the BTCfi
ecosystem on
Core
is
already
growing,
with
over
400
million
dollars
in
TVL
and
more
than
80,000
daily
active
users.
Core’s
ecosystem
supports
DeFi
applications,
staking,
payments,
gaming,
NFTs
and
more,
all
built
on
Bitcoin’s
secure
foundation. 

This
latest
development
marks
an
important
milestone
for
Core
as
it
seeks
to
strengthen
its
position
as
a
Bitcoin-aligned,
secure
blockchain
platform.

About
Core

Core
serves
as
the
Proof
of
Stake
layer
for
Bitcoin
as
the
first
enabler
of
Self-Custodial
Bitcoin
Staking,
which
secures
a
fully
EVM-compatible
BTCfi
ecosystem.
Since
April
2024, over
6,000
BTC valued
at
more
than
$394
million
have
been
staked
with
Core,
enhancing
Bitcoin’s
utility
and
security.

Core
is
the
most
Bitcoin-aligned
EVM
blockchain
with
~55%
of
Bitcoin
mining
hash
power
contributing
to
the
network’s
security.
This
breakthrough
has
amassed
millions
of
Core
adopters
–
over 22.5M
unique
addresses, 292M+
transactions,
and over
444M
TVL since
its
mainnet
launch
in
January
2023.