🔗 Blockchain Focus 🔗
BabylonChain: Two Birds with One Stone
- Currently, Bitcoin holders and PoS chains have their own concerns. Bitcoin holders struggle to utilize their assets efficiently (i.e., generating yields), while PoS chains face security-related issues like bootstrapping, low liveness resilience, and long stake unbonding periods.
- As a two-sided marketplace, Babylon works as a bridge by putting bitcoins to work by staking them to help secure PoS chains. Babylon’s remote staking protocol provides strong security guarantee to both the consumer chain (PoS chain) and the provider Bitcoin holders by its novel implementation with Timestamping Protocol, Finality Gadgets, and Bond Contracts.
- Babylon’s Bitcoin Staking Protocol can be utilized in a wide variety of consensus protocols used by consumer chains, thanks to its modular design. Any blockchain network that wants to leverage Bitcoin’s security and liquidity on top of their protocol can benefit from Babylon. Some promising use cases include DeFi, forkless Layer 2 rollups and oracles.
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