As a seasoned crypto investor with over a decade of experience navigating the volatile and ever-evolving digital asset landscape, I find Core DAO‘s approach to DeFi particularly intriguing. The integration of Bitcoin security with Ethereum compatibility seems like a masterful move that could indeed pave the way for broader blockchain adoption.
On December 9th, a significant gathering took place in Abu Dhabi, bringing together key influencers in the realm of blockchain technology innovation. The focus of this event was exploring the upcoming landscape of Decentralized Finance (DeFi) and blockchain safety matters.
In a special conversation with CryptoMoon, Adam Bendjemil, who leads the ecosystem expansion at Core DAO, offered valuable perspectives on Bitcoin-related Decentralized Finance (BTCFi) and their strategies for ensuring safety.
The Core DAO is a foundational blockchain that combines the security of Bitcoin with the compatibility of the Ethereum Virtual Machine, aiming to enhance the Decentralized Finance (DeFi) environment.
Bendjemil emphasized that Core DAO’s objective is to boost trust within Decentralized Finance (DeFi) platforms by linking its financial tools with Bitcoin’s protective mechanisms, which could pave the way for a wider acceptance and use of blockchain technology.
DeFi on Bitcoin
Bendjemil outlined the unique characteristics of Core DAO compared to other Decentralized Finance (DeFi) platforms like those operating on Ethereum and Binance Smart Chain, as it incorporates Bitcoin within its functionalities.
He highlighted the platform’s reliance on EVM-compatible technologies to enhance accessibility and adoption.
He explained that “Core is boring” but “boring is good” due to its “battle-tested” nature, adding that he disagrees with critics of forking — a process of creating a new blockchain by copying existing code:
“Where we feel comfortable is bringing [users] into a protocol that forked something very successful, something battle-tested, that has audited several times their own protocol with a known coded by security companies […] then add the Bitcoin twist to it.”
Security first, innovation second
According to Bendjemil, the Core DAO emphasizes a “safety-above-all” strategy when tackling security issues within Decentralized Finance (DeFi), choosing technology such as Solidity and conducting thorough audits to reduce potential hazards related to DeFi protocols.
He emphasized that protocol safety is essential to building trust and long-term adoption, explaining that “adoptions goes with security first” and that “holding BTC is a winning strategy.”
Through a reliable methodology, we’re concentrating on these key aspects as Core DAO strives to achieve harmony in technological advancement, safety, and overall consistency. By gradually incorporating novel ideas via BTCFi, this is the approach Bendjemil described.
Could BTC top $110,000 by January 2025?
As a researcher, I’ve come across an intriguing perspective from Raoul Pal, founder and CEO of Global Macro Investor. He posits that the current Bitcoin price of $110,000 might be a temporary peak within the ongoing BTC cycle, as we appear to be entering the “parabolic phase” of the market cycle.
Pal made it clear that many versions of the company’s Bitcoin price trend diagram have been reproduced and emphasized the results derived from the authentic GMI Total Liquidity Index for the Bitcoin chart.
According to the initial prediction, Bitcoin (BTC) is anticipated to reach approximately $110,000 by early 2025. However, a drop is expected to occur in February 2025, pushing the price below $70,000. This decline is seen as just a temporary dip in liquidity, with expectations of another rise in Bitcoin’s value during the third quarter of 2025.
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2024-12-09 17:09