According to Odaily, the Bitcoin pledge protocol Babylon has announced the launch of its Bitcoin pledge testnet, Testnet-4, on the X platform. The testnet is reportedly open to Bitcoin holders, validator teams, wallet providers, custodians, and liquidity pledge protocol participants.
Babylon's pledge protocol allows for self-custody Bitcoin pledges without the need for bridging or wrapping, ensuring end-to-end security and supporting quick pledge release. Over 70 Finality Providers have joined the testnet, including P2P.org, Allnodes, Everstake, InfStones Global, Luganodes, Figment Capital, Chorus One, Stakin, and Blockdaemon.
The protocol's unique feature of not requiring bridging or wrapping for Bitcoin pledges ensures a higher level of security for users. This is a significant development in the cryptocurrency space, as it allows for more secure and efficient transactions. The participation of over 70 Finality Providers further strengthens the testnet's capabilities and potential for success.
