A new star in the world of blockchain-based systems, CoreDAO, the bridge between Ethereum and Bitcoin, increased the number of active users by 64% within a month. By October 21, 2024, CoreDAO had over 308,000 active users, which shows that more people are beginning to see some value in the platform. Also, the level of activity of platform transactions has increased by 21%, equal to 868000.
Growing User Base and Transaction Volume
This growing engagement and the rise in the number of transactions only mean more users are participating in Core DAO in the blockchain industry. Maybe people are attracted by its utility of bridging two of the biggest smart contract platforms, Ethereum and Bitcoin, thus increasing the integration of two decentralized worlds. This clearly indicates that more and more people are putting their confidence in CoreDAO technical solutions and the ability to deliver quality value to those in the cross-chain business.
Explosive Growth in dApp Volume
Besides receiving growth in users and transactions, CoreDAO has experienced a great boost in the activity of dApps. Over the last week, the level of usage of dApps increased by 43%, with total volume of value transacted reaching $119M. It uncovers that people are not simply using the platform but experimenting with decentralized finance (DeFi), gaming, and significantly more across the blockchain offerings provided by Core DAO.
CoreDAO’s Expanding Ecosystem
These exponential numbers position CoreDAO at the forefront of the blockchain platforms for a multi-chain ecosystem where Ethereum smart contracts and Bitcoin security coexist. They appear to be developing an ecosystem, and developers, projects, and users now understand the benefits of CoreDAO’s bridging technology. The increased activity again points to increased usage and possibly demand for the utility token $CORE, which is popular in the decentralised finance market.
Regarding the further development of the CoreDAO ecosystem, these milestones represent the project’s further prospects in terms of the creation of a modern system of blockchain interoperability. As more value is created across dApps, users, and transactions, the platform shapes the decentralized web ecosystem in the contemporary world.
Source: https://blockchainreporter.net/coredao-bridges-ethereum-bitcoin-with-64-user-surge-and-record-dapp-volumes/