Babylon Project: Enhance the security of PoS chains with idle BTC

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Providing Additional Security for PoS Chains Using Bitcoin's Security

Bitcoin, as the strongest consensus and the most secure PoW chain, has the potential to provide security services for other blockchains. The Babylon project is dedicated to achieving BTC staking, allowing holders to share over $13 trillion in economic security with other networks and earn rewards without leaving the Bitcoin network.

Will re-staking be introduced to the POW network, is Babylon the sky garden of Bitcoin?

The core mechanism of Babylon includes:

  1. Remote Staking: BTC is held on the Bitcoin mainnet for staking.

  2. Customized Staking Contracts: Create special types of transactions using Bitcoin scripts and restrictions to achieve staking lock-up.

  3. Cross-chain communication: Using the Cosmos IBC protocol to transmit messages and data between Bitcoin and other chains.

  4. Additional Security Layer: Record the key data hash of the PoS chain onto the Bitcoin blockchain, establishing "checkpoints" to provide an immutable timestamp proof for the data.

Will the re-staking be introduced to the POW network, is Babylon the sky garden of Bitcoin?

The architecture of Babylon includes the Bitcoin mainnet, the Babylon aggregation layer, the IBC communication protocol, and the target PoS chain. BTC holders can choose to stake on the Babylon network, locking BTC on Bitcoin, aggregating PoS data on Babylon, and regularly sending it to Bitcoin to establish "checkpoints."

Will re-staking be introduced to the POW network, is Babylon the sky garden of Bitcoin?

In terms of security, Babylon uses Schnorr signatures and EOTS( to implement a penalty mechanism for extractable one-time signatures ). If the staker attempts a double spending attack, their private key will be exposed, and the staked BTC will be burned.

Will the re-staking be introduced into the POW network, is Babylon the sky garden of Bitcoin?

Babylon is expected to address the following issues:

  1. Achieve native staking of BTC on the Bitcoin network, providing higher returns.

  2. Reduce the security budget and token emissions of the PoS chain.

  3. Provide PoW security supplement for PoS chains to mitigate long-range attacks.

  4. Increase the threshold for PoS chains to resist active attacks.

Will re-staking be introduced to the POW network, is Babylon the sky garden of Bitcoin?

Compared to Eigenlayer, Babylon targets the idle BTC market but is limited by IBC support and lacks smart contract functionality. Both provide economic security support for small-scale PoS chains, but they differ in their target audience and specific objectives.

Will re-staking be introduced into the POW network, is Babylon the aerial garden of Bitcoin?

Will re-staking be introduced to the POW network, is Babylon the aerial garden of Bitcoin?

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CoffeeNFTradervip
· 13h ago
Working is for better Cryptocurrency Trading~
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ForkItAllDayvip
· 13h ago
I have some thoughts. When will it go live on the Mainnet?
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