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Babylon Mainnet Set to Transform BTC Staking with Self-Custody Features

Key points:

Babylon is set to roll out its self-custodial Bitcoin staking mainnet in two days, marking the beginning of its phased rollout.

Babylon mainnet will launch soon. It will enable Bitcoin self-custody to enhance PoS blockchain security through smart contracts, Bitcoin privacy, and timestamping.

Babylon Mainnet Launches Self-Custodial Bitcoin Staking

Babylon’s upcoming mainnet launch will introduce self-custody Bitcoin staking, leveraging Bitcoin’s economic security to enhance the security framework of the proof-of-stake (PoS) blockchain.

This innovative system will allow users to stake their Bitcoin via smart contracts while retaining complete control of their assets without intermediaries. The self-custody model will be deployed on decentralized systems such as sovereign PoS chains, Layer 2 networks, data availability solutions, and oracles.

Bitcoin Timestamping on Babylon Mainnet

Babylon’s BTC Timestamping Protocol will allow users to timestamp data sent to its platform using the Bitcoin blockchain. According to its documentation, this timestamping feature is designed to enhance the security of PoS blockchains, making them resistant to long-range attacks.

During the phased rollout, Bitcoin holders can stake their tokens by sending Bitcoin staking transactions directly to the blockchain. The project has received significant backing, having raised $70 million in a recent funding round led by Paradigm, following a previous $18 million round led by Polychain Capital and Hack VC.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

William

In the fast-paced world of day trading, I've honed my skills for over six years using technical analysis tools and crafting short-term strategies. My expertise isn't from textbooks but from the trenches of online trading communities. I excel at reading chart patterns, applying technical analysis, and mastering risk management. "The market is about probabilities," I declare. As Editor at Coincu, I empower readers with the insights and strategies to conquer the dynamic world of day trading.