Securing PoS Systems with the World’s Most Decentralized Asset
PALO ALTO, Calif.–(BUSINESS WIRE)–Babylon, the project that aims to build a Bitcoin-secured decentralized economy, today announced the launch of the world’s first trustless Bitcoin staking testnet.
Today’s testnet launch significantly advances Babylon’s mission to enable a Bitcoin-secured Proof-of-Stake economy. Babylon’s Bitcoin Staking protocol allows Proof-of-Stake (“PoS”) systems such as PoS chains, L2s, Data Availability (DA) layers, oracles etc to acquire staking capital from bitcoin, the largest, decentralized crypto asset in the world. Through its modular design and slashing functionality, Babylon’s Bitcoin Staking Protocol will enable PoS systems to introduce bitcoin as a staking asset and enjoy higher crypto-economic security than what native tokens can provide. As a result, PoS systems will be able to utilize Babylon’s scalable staking and restaking features to unlock value from th
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