"Bitcoin Meets DeFi: Core DAO & Element Wallet Team Up for Privacy-Focused Innovation"
1min read Core DAO and Element Wallet are collaborating to enhance Bitcoin's functionality and utility within the decentralized finance (DeFi) ecosystem. This partnership aims to provide Bitcoin users with greater access to DeFi services while prioritizing privacy and security.
Bruna Brambatti from Element Wallet noted, "Our goal is to ensure that Bitcoin users can fully engage with DeFi without compromising their privacy." By uniting, Core DAO and Element Wallet are paving the way for innovative DeFi participation while maintaining user privacy.
Core DAO's roadmap for 2025 includes diversifying Bitcoin's utility by streamlining access to decentralized finance. Dylan Dennis, a contributor at Core DAO, explained, "Core allows for whatever you want to do with your Bitcoin, from taking out a loan to lending it out and earning yield." Core functions as a layer-1 blockchain that integrates seamlessly with Bitcoin while offering Ethereum Virtual Machine (EVM) compatibility.
The Core DAO supports and develops the Core blockchain, focusing on community-driven collaboration, security, and scalability. Their initiative, BTCfi, aims to create decentralized financial services built on a Bitcoin-based blockchain, marrying Bitcoin's robust security with innovative DeFi solutions. This collaboration not only enhances Bitcoin's overall value by broadening its transactional capabilities but also offers new opportunities for users to engage with decentralized applications.
Core's EVM compatibility permits developers to utilize established Ethereum tools to create interoperable decentralized applications (dApps), catering to a wide array of user needs, from basic BTC staking to complex DeFi integrations. Dennis noted, "Core was created by Bitcoiners to scale Bitcoin and unlock new use cases for every kind of Bitcoiner."
In alignment with Bitcoin's foundational values of decentralization and security, Core utilizes the Satoshi Plus Consensus. This approach integrates contributions from Bitcoin miners, CORE stakers, and Bitcoin stakers, creating a robust security framework. This innovative approach leverages a delegated Proof-of-Stake (dPoS) mechanism, allowing CORE token holders to bolster network security by delegating their tokens. Moreover, it incorporates non-custodial Bitcoin staking, providing users with an additional layer of operational security.
Element Wallet focuses on protecting user privacy and the secure management of digital assets. Bruna Brambatti, Marketing Manager at Element Wallet, emphasizes the 
