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.

Read More: Babylon Review: Leading Bitcoin Staking Solution

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.