Babylon Positions Bitcoin Beyond Store of Value, Unveiling Its Bitcoin Staking Protocol MVP At Cosmoverse 2023
–News Direct–
Babylon, the blockchain project that aims to convert the 21 million bitcoins into a decentralized staking asset for the Proof of Stake economy, unveils its Bitcoin Staking Protocol MVP at the Cosmoverse 2023. Earlier this year, Babylon published a litepaper outlining its pioneering concept of native trustless Bitcoin staking to secure PoS chains. Recent data from Glassnodes reinforces the pressing need for such an innovation. A staggering 66% of Bitcoins circulating supply, equivalent to 12.26 million BTC, remained dormant for a year. This indicates vast untapped potential, positioning idle Bitcoins to boost the economic security of PoS chains and decentralized applications (dApps) that rely on staking.
Babylon positions itself as the first marketplace to connect the $500B...