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Bass Strings

It is a silk wrapping (or at least at one time they were silk). I'm not sure what purpose they really serve. Actually, I notice that steels usually have them, nickels sometimes don't, so maybe it is to keep the strings from scratching up your tuners or something.
 
I think they are there to protect the hardware (scratching the tuning posts).

I doubt it has anything to do to prevent the core from separating, as the silk wrapping are merely on the outside of the string, not in between the core and the outter wrapping.