Pt-based core–shell nanoparticles
have emerged as a promising
generation of highly active electrocatalysts to accelerate the sluggish
kinetics of oxygen reduction reaction (ORR) in fuel cell systems.
Their electronic and structural properties can be easily tailored
by modifying the Pt shell thickness, core composition, diameter, and
shape; this results in significant improvements of activity and durability
over state-of-the-art pure Pt catalysts. Prompted by the relevance
of efficient and robust ORR catalysts for electrochemical energy conversion,
this Perspective reviews several concepts and selected recent developments
in the exploration of the structure and composition of core–shell
nanoparticles. Addressing current achievements and challenges in the
preparation as well as microscopic and spectroscopic characterization
of core–shell nanocatalysts, a concise account of our understanding
is provided on how the surface and subsurface structure of multimetallic
core–shell nanoparticles affect their reactivity. Finally,
perspectives for the large-scale implementation of core–shell
catalysts in polymer exchange membrane fuel cells are discussed.