Avalanche Introduces Core Wallet for Streamlined Web3 Experience
Avalanche has unveiled its new Core wallet alongside Bitcoin bridging functionality, marking a significant upgrade for its DeFi ecosystem. Announced at the Avalanche Summit in Barcelona, these initiatives aim to simplify user interactions and expand asset accessibility on the Avalanche blockchain.
Nick Mussallem, Head of Product at Ava Labs, described Core as a "curated Web3 operating system" combining secure wallet architecture with unique features not found in competitors like MetaMask. The wallet will integrate native bridging, allowing direct interaction with Avalanche-based dapps—eliminating the need for third-party Ethereum-Avalanche bridges.
Key Features of Core Wallet:
- Browser extension (late March release)
- Mobile app (Q2 2023 launch)
- Native Avalanche bridging for seamless asset transfers
👉 Discover how Core compares to MetaMask
Bitcoin Bridging: A Game-Changer for Avalanche DeFi
Avalanche’s existing bridge will support Bitcoin (BTC) by Q2 2023, enabling direct onboarding of the leading cryptocurrency into its ecosystem. Previously, users relied on wrapped tokens (e.g., WBTC), which involve third-party risks. This upgrade positions Avalanche as a hub for multi-chain DeFi, with plans to add more blockchains via bridging infrastructure.
Avalanche Bridge Performance:
- $6B+ Total Value Locked (TVL)
- $43B+ assets moved between Ethereum and Avalanche since July 2021
- Most popular Ethereum-connected bridge by usage
Market Impact and AVAX Performance
AVAX traded at $86 (flat over 24 hours but up 25% weekly) during the announcement. Analysts anticipate increased adoption as Core’s features and Bitcoin support go live.
FAQ Section
Q: How does Core differ from MetaMask?
A: Core offers native Avalanche bridging and a tailored Web3 interface, reducing reliance on external tools.
Q: When can I use Bitcoin on Avalanche?
A: Bitcoin bridging launches in early Q2 2023 via the Avalanche Bridge.
Q: Is Core available on mobile?
A: Yes—the mobile app debuts in Q2 2023, following the browser extension.
Q: Why is Bitcoin bridging important?
A: It allows direct use of BTC in Avalanche DeFi, avoiding wrapped token complexities.
👉 Explore Avalanche’s DeFi potential