App logo
Media

Devs Dispatch: Issue #6

6 min read
Devs Dispatch: Issue #6

Devs Dispatch: Bi-weekly roundup of the most impactful and cutting-edge developments in Core Chain and the wider Web3 developer ecosystem

Sign up to receive this directly in your inbox.

Hello Devs! Welcome to the latest edition of Devs Dispatch, your go-to source for all things Web3. In this issue, we're diving into some of the most exciting and impactful developments in the Web3 landscape. Let's get started!

Updates on Core Chain

The Core team has completed the development of a Bitcoin-to-EVM HTLC atomic swapping protocol and is working on a compelling user interface to enable fully decentralised cross-chain swaps between Core EVM and the Bitcoin blockchain.

What’s new on Core Chain

  • Core Ignition, the ongoing incentive program for participants on Core Chain has been updated with the introduction of Sparks. Sparks is a dynamic way to measure users’ on-chain contributions to the growth and vitality of the Core ecosystem while earning rewards for their active involvement in the network.
  • Bitcoin holders have started embracing the native Bitcoin staking feature launched on Core a few weeks ago. The total value of Bitcoin staked on Core has now crossed $20M, showing healthy signs of adoption from this trillion-dollar asset.
  • At the recent Token 2049 conference in Dubai, Initial Core contributor Rich Rines gave a keynote presentation on how Core is working towards unlocking the $1 trillion worth of trapped value in Bitcoin. Watch here.
  • The first Core tech community call was held by Core Contributors, with help from representatives of the NLX Protocol & Colend projects. It featured insights on how Native Bitcoin, Wrapped Bitcoin, and Liquid staking work, and capped off with a live Q&A session from the audience.
  • Cointelegraph covered the comments of a Core contributor on the evolution of Bitcoin-native decentralized finance.

Bitcoin Developer Insight

Bitcoin booms past a billion transactions: The bitcoin blockchain was launched in early January of 2009. Now, 800 weeks (over 15 years) later, it has achieved the significant milestone of processing 1 billion transactions. This development emerges after a lively year on the network, which has seen daily activity steadily creeping up thanks to Ordinals, the arrival of a BTC-focused spot ETF, and similar changes. Though it is the most valuable cryptocurrency, Bitcoin is not the first network to have passed the billion-transaction threshold. Hopefully, with the help of scalable, Bitcoin-aligned projects like Core Chain, 2 billion transactions will be here before we know it!

BlockchAIns: It’s always fun when several different emerging technologies intersect, and according to Arif Khan, the CEO of Alethea AI, blockchain and AI will soon be doing just that. Khan – who has been operating in the crypto + AI space for a while – believes that in as little as five years we could have AI agents autonomously executing on-chain transactions. He thinks this will be part of a broader move toward outsourcing increasing fractions of our lives, such as emails, personal finances, etc., to machines. Exciting times lie ahead!

Address poisoning leads to theft of $68M: A cryptocurrency user mistakenly sent 1,155 wrapped bitcoin, valued at $68 million, to a scammer's wallet after falling victim to an address poisoning exploit. This kind of scam involves deceiving a user into sending funds to a manipulated wallet address that closely resembles the intended one, sometimes differing in as little as a few characters. The exploit was confirmed by blockchain security firms including CertiK and Cyvers, and highlighted by blockchain investigator ZachXBT. This attack is sadly a constant threat in the crypto space, with the larger community facing losses of $2 billion to various hacks and scams in 2023. Stay safe out there coretoshis.

New Dapps & Toolings in the Core Chain Ecosystem

Full Force is a first-of-its-kind, engage-to-invest launchpad introduced on Core. This platform allows users to secure an investment allocation in early-stage Core projects based on their active engagement on the platform.

Xlink is a Bitcoin bridge developed by the ALEX LAB Foundation and launched on Core Chain. XLink is set to redefine the landscape of Bitcoin DeFi, offering users seamless access to a wide range of DeFi services on the Core Chain.

Owlto Finance is an interoperability protocol integrating Core Chain, thereby allowing the bridge of USDT & USDC between 15 other networks and Core.

Looking to Build your next App or Tooling in Web3?

Core Chain is the best ecosystem to deploy on at the moment. It’s EVM compatible and there are lots of resources available to get you started. Check out coredao.org for more information. Stay tuned for more updates and insights into the world of Web3 development.

Happy coding!

By clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.