Core Dao and Element Wallet collaborate to extend the usefulness of Bitcoin for holders, offering new interaction ways beyond simple storage. This partnership emphasizes user confidentiality while aimed at maximizing the safety of decentralized financing mechanisms (DEFI) as the stimulation of bitcoin.
Beincrypto discussed with representatives of the two platforms to explore how user confidentiality and improved features in the markup can create new opportunities for Bitcoin DEFI participation.
Expanding Bitcoin use case
For 2025, the basic team aims to develop new use cases for Bitcoin holders who wish to use their BTC rather than keep it perpetually. Core succeeds by allowing Bitcoin users to interact easily with DEFI.
“Many people have organized bitcoin over the years and are completely satisfied with it. I understand, including me, but there are also a lot of people who really want to do something with their BTC and not just hold it. They really want to put it to work, put it in deffi, contract a loan on it, lend it and win a return. Core essentially allows everything you want to do with your Bitcoin, ”said Dylan Dennis, a contributor to Core Dao.
Designed to improve the usefulness of Bitcoin while preserving its decentralization and safety, Core is a layer 1 blockchain that integrates with Bitcoin and offers EVM compatibility. Launched in January 2023, he reached a market capitalization of more than $ 497 million.
The Core Dao, a decentralized autonomous organization, supports and develops basic blockchain, continuing security, scalability and decentralization by community -based collaboration.
Core DAO members used the term BTCFI to describe financial services and decentralized applications built on a Bitcoin -based blockchain. This initiative combines the safety and reliability of Bitcoin with innovative financial services found in the DEFI platforms.
BTCFI improves Bitcoin value by widening protection and increasing usefulness via chain yield and a complete DAPP ecosystem.
Meanwhile, Core EVM compatibility allows developers to use familiar Ethereum tools for interoperable DAPPs. These DAPPs increase the versatility of Bitcoin and meet various user needs, from the simple implementation of the BTC to complex DEFI activities.
“Basically, Core was created by Bitcoins. The interest of the nucleus is to put on a bitcoin scale and to unlock new use cases for all types of bitcoiner, that you are someone who does not want to take again risk, and simply keep your BTC in your wallet. Then, on the other side, there is all this Bitcoin Defi ecosystem, with more than 100 DAPPs, all based on BTC. Whatever you want to do with your BTC, you can do it with Core, “said Dennis.
While exposing basic users to Defi, Core also uses a three -in -one strategy to secure its broadband blockchain.
Satoshi consensus more for assured decentralization
To remain faithful to the main principles of decentralization and security of Bitcoin, Core uses a mechanism defined as the Satoshi more consensus. This method involves active collaboration of Bitcoin Miners, Core Stakers and Bitcoin Stakers.
Bitcoin minors contribute to blockchain safety by delegating their work proof mechanisms (POW) to a basic validator. This non -destructive POW delegation allows minors to take advantage of their existing work without choosing between the security of bitcoin and nucleus.
Core security is also improved thanks to a mechanism for proof of delegated proof (DPO), which allows holders of native core tokens to participate in network security by delegating their tokens to validators.
Finally, the Satoshi consensus mechanism more core incorporates non -guardian Bitcoin.
“With non -guardian stimulus, you can put the bitcoin in your own wallet by putting time locking. This is called a Time locking contract and it is a native feature of Bitcoin. You lock it in this transaction, you include the validator you want to delegate, and to help decentralize and secure the central network, you are paid in basic tokens to do this without any new confidence hypothesis. Thus, something that helps to secure Core also helps the whole mission, which consists in unlocking new use cases, “added Dennis.
Although Core emphasizes Bitcoin functionality for its carriers, the element portfolio is in charge of user confidentiality and secure management of digital assets.
Approach user confidentiality and asset safety
Although the nature of the core blockchain remains decentralized and transparent, the same does not apply to the user’s details.
Confidentiality is a crucial aspect for Bitcoin users and the crypto ecosystem in general, explained Bruna Brambatti, marketing manager at Element Wallet.
“You will see many people who have random handles. They do not use their profile photo. They use an NFT. People like to be private and want to keep their money private. Even if we have this open space with the blockchain, we will never know who is the owner of this money in this wallet, “she said.
Element Wallet is a multi-chain cryptographic portfolio for transparent asset management and DEFI access. Although it is compatible with different cryptographic assets such as Bitcoin and Tron, it was initially designed for the main participants and acts as the first and main interface for the main blockchain.
To respond to user privacy problems, Element Wallet uses various mechanisms to protect identity and financial information. The element messaging uses end -to -end encryption for user confidentiality. Only the recipient can decipher messages, protecting the content of third parties.
Although the element does not store the content of these messages, it maintains a communication recording between users, excluding the content of the real message. The messages themselves are stored locally on user devices.
The element also incorporates transfers between peers and peer-peer (P2P). Users can send payments or payment requests to these cats, improving security and clarity by communicating directly with the recipient. This feature provides additional security and convenience, allowing direct exchange in the application.
“We have never, never access to anyone who or his seed phrases. We believe that the owners should have power in their hands, so that they can do what they think is best with their assets and their confidence that they are theirs, ”added Brambatti.
To ensure that users can easily navigate the basic blockchain, Element Wallet incorporates user -friendly design strategies to simplify interaction.
Break the complexities of web3
Basic representatives and elements stressed that the community was at the heart of the success of the blockchain. To further cultivate user commitments, Core Dao focuses on the decomposition of integration barriers and the facilitation of the user experience.
“We really focus on simplifying the type of web3 complexities that are often in space today. While we are working in close collaboration with the Core Dao and the basic team, and as space evolves, we just find more opportunities to really simplify it and to make UX at the front -Gardly, “said Sean Scchireson, product manager at Element Wallet.
The element portfolio simplifies the basic chain -related activities by providing a unique and complete portfolio that meets all user needs.
“The element portfolio really improves the user experience on the basic chain, as it was designed for the central ecosystem. If you want to buy crypto, exchange your Bitcoin without caretaker, you can do everything. If you want to chat with people, you can do it there. So, simply trying to get the whole community on board, so that we can all be on this portfolio of an element and all transacte together and make the experience better for everyone, “said Dennis.
The basic team has created Sparks, a dynamic system to measure contributions to the growth of the main community to encourage user participation. The sparks follow user activity and commitment to the basic chain ecosystem. Based on their interactions and their involvement, they are awarded to users and their teams.
Daily sparks allowances are distributed according to the activity level, with more active users receiving larger amounts. Users can also receive sparks by engaging with the Element portfolio.
“What we want to do is make this entry point like a consumption application that you have used and loved before. And it’s really our gold element. We do not try to necessarily reinvent the wheel, but we definitely try to have a new turn on a UX market otherwise saturated. And that’s where we really focus there, ”concluded Schireson.
This development on user experience and community commitment aims to facilitate wider adoption and participation in the BTCFI development sector.
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