With Bitcoin (BTC) staking, proof-of-stake (PoS) blockchains can enhance their security designs and offer more attractive incentives to all participants
Babylon, a blockchain project focused on the advanced security of decentralized protocols, demonstrates how 21 million Bitcoins can be integrated into the staking mechanisms of a plethora of blockchains.unveils its Bitcoin Staking Protocol MVP at Cosmoverse 2023, the largest offline event for the enthusiasts of the ever-growing Cosmos ecosystem. This protocol is designed to allow the usage of formant Bitcoins as staking instruments for various PoS blockchains.
Babylon's protocol doesn't just harness these idle bitcoins, it transforms them into a security backbone for PoS chains. Our approach seamlessly integrates Bitcoin staking with almost any PoS protocols in a modular fashion, allowing any bitcoin holder to earn staking rewards from a wide variety of PoS chains. This not only amplifies economic incentives but paves the way for broader adoption, underscoring Bitcoin's diverse utility beyond its widely-recognized role as a store of value.
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