A new layer 1 blockchain protocol, Babylon has gone live today with it focusing on enhancing security in the existing blockchain landscape while inheriting security features of Bitcoin. With the launch, the expanding Bitcoin ecosystem has become wider with it now connecting to Cormos zones.
The recent X post from Babylon reveals that “Babylon Genesis is Live” while stating that it is “Secured by Bitcoin to Unite the Decentralized World.”
What could be considered a newest development in crypto space, Babylon is a blockchain staking protocol developed as a Cosmos zone. It leverages Bitcoin for staking and integrates proof-of-stake (PoS) consensus for enhanced security.
This way, Babylon gives another utility to Bitcoin while using its dominance to upscale blockchain applications. This integration introduces slashing-based accountability – a crypto-native parallel to ancient legal codes like the Code of Hammurabi, aiming to transform Bitcoin into a foundational asset for DeFi liquidity.
As per Babylon’s staking dashboard, the protocol has already reached a total BTC TVL of $4.07 billion (49,675.73 BTC).
“This launch cements the Babylon Bitcoin staking protocol as the foundational infrastructure layer for Bitcoin and the most impactful staking solution in the web3 ecosystem, transforming idle Bitcoin into the backbone of the decentralized economy and unlocking its full utility,” says the official announcement from Babylon team.
What is Babylon?
The team describes Babylon as a suite of security-sharing protocols that bring Bitcoin’s unparalleled security to the decentralized world. Its Bitcoin Staking protocol enables Bitcoin holders to stake their BTC to provide crypto-economic security to PoS (proof-of-stake) systems in a trustless and self-custodial way.
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