Blockchain developer Babylon has announced that its self-governed Bitcoin staking mainnet will officially launch in the next two days, marking a major step forward in its planned rollout roadmap.
With this launch, Babylon will leverage Bitcoin’s economic properties to enhance the security frameworks for blockchains that use the proof-of-stake (PoS) consensus mechanism. Users can stake their Bitcoin through a dedicated smart contract, providing greater security for their assets.
The highlight of this mechanism is the ability to apply the economic power of Bitcoin to strengthen various decentralized systems in a self-governing model, where users always maintain control of their assets without the need for intermediaries. Systems such as sovereign PoS chains, Layer 2, data availability solutions, and oracles will benefit from this mechanism.
In the future, Babylon’s BTC timestamping protocol will allow any data submitted to the platform to be timestamped on the Bitcoin blockchain. According to Babylon’s documentation, one of the key applications of this protocol is to help enhance the security of PoS blockchains, especially in protecting against long-range attacks.
In its latest blog post, Babylon also pointed out that, in the first phase, Bitcoin holders will begin the staking process by submitting staking transactions directly to the Bitcoin blockchain.
Notably, Babylon raised $70 million in a new funding round led by venture capital firm Paradigm in May. Polychain Capital and Hack VC previously led an $18 million Series A funding round in December 2023.
https://tapchibitcoin.io/babylon-se-ra-mat-mainnet-staking-bitcoin-tu-quan-trong-hai-ngay-toi.html
