Decentralized Finance (DeFi) platform SushiSwap is set to integrate with the growing blockchain protocol Core, tapping into the protocol’s unique consensus mechanism to provide a broad set of DeFi services to its cross-chain functionality.
The integration is touted to increase the possibilities for developers building within the Core ecosystem, with decentralized applications built on the protocol gaining access to SushiSwap’s liquidity pools, cross-chain swaps and its decentralized exchange (DEX) aggregator.
The liquidity of SushiSwap’s automated market maker platform is also set to benefit the Core ecosystem, with the additional liquidity from the integration expected to improve the functionality of other DeFi protocols operating on Core.
SushiSwap joins ArcherSwap, IceCreamSwap and OpenEx as the main DeFi protocols operating on Core’s network. SushiSwap users are also set to benefit from further cross-chain functionality facilitated by Core’s protocol.
A spokesperson for Core outlined the technical side of the Bitcoin-powered blockchain, which integrates both proof-of-work (PoW) and proof-of-stake (PoS) consensus mechanisms to provide privacy, scalability and security to its protocol.
"This approach leverages the existing Bitcoin infrastructure for security and decentralization through delegated hash power. Currently 40% of Bitcoin’s hash is delegated to Core. Core is EVM-compatible, allowing use cases that otherwise would not be possible on Bitcoin."
Related: Vyper vulnerability exposes DeFi ecosystem to stress tests
According to the Core team, its proprietary Satoshi Plus consensus mechanism combines critical elements of the two different consensus mechanisms. Satoshi Plus uses Bitcoin miners that participate in the election of Core’s validator set by delegating hashing power to specified validators.
Core then “compliments” the decentralized security of Bitcoin’s consensus mechanism by using a form of Ethereum’s PoS:
“Satoshi Plus leverages DPoS to verify transactions by selecting validators that have a combination of staked native tokens and delegated hash power, providing scalability on top of PoW’s significant decentralization and security."
Decentralized Finance (DeFi) platform SushiSwap is set to integrate with growing blockchain protocol Chain, tapping into the protocol’s unique consensus mechanism to provide a broad set of DeFi services to its cross-chain functionality.
As previously reported by Cointelegraph, Sushi 'head chef' Jared Grey addressed concerns following a subpoena from the United States Securities and Exchange Commission. This led to the establishment of a cautionary $3 million Sushi DAO legal defense fund to combat any potential legal issues in the future.
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Title: SushiSwap furthers cross-chain functionality with Core integration
Sourced From: cointelegraph.com/news/sushiswap-furthers-cross-chain-functionality-with-core-integration
Published Date: Tue, 01 Aug 2023 14:00:00 +0100
