What is Babylon? A comprehensive introduction to the Bitcoin staking protocol Babylon

Babylon is the leading project of Bitcoin and the mining center of Bitcoin. It will unlock the income value of 21 million Bitcoins and extend the security of Bitcoin to protect more POS decentralized world, thereby creating a more powerful and Unified ecosystem. Previously, the project activated the Testnet-4 test network on May 28, 2024. Participants can view the information on the staking panel and go to Galxe to complete the task. The above content introduces what is Babylon? Some people may not understand. Simply put, Babylon is a Bitcoin proof-of-stake protocol. Next, the editor will help you understand the Bitcoin staking protocol Babylon in one article.

What is Babylon?

Babylon is a Bitcoin proof-of-stake protocol. Babylon builds an infrastructure that allows proof-of-stake (PoS) systems to obtain pledged capital from Bitcoin. The platform’s modular design and penalty capabilities enable staking-based systems such as blockchains, layer 2, decentralized application layers, and oracles to incorporate Bitcoin as a pledged and secondary pledged asset.

Babylon co-founder David Zee said: “This funding will accelerate our mission to make Bitcoin the security backbone of PoS systems. Our team is committed to promoting Bitcoin’s utility beyond its traditional role and enhancing the entire blockchain ecosystem. Security. ”

Babylon’s Bitcoin security protocol uses secure encrypted links, overcomes the shortcomings of smart contracts through cryptography, consensus protocol innovation and optimized use of the Bitcoin script language. Babylon’s Bitcoin Security Protocol allows Bitcoin users to connect to trusted geosecurity protocols without the need for password protection, taking into account the protocol’s complete crime-proof security guarantees. Babylon's innovative protocol eliminates the need for secure encrypted links, encapsulation, and escrow.

A key aspect of Babylon is its BTC infrastructure protocol. The protocol is designed to help blockchain technology developers and developers create and maintain the security of blockchains. The protocol is designed as a variety of PoS protocols and can build consensus protocols.

What is the prospect of Babylon?

Babylon has a good future. Babylon’s first and second advanced cryptography, consensus protocol innovation and optimized Bitcoin script language, as well as a system architecture based on a three-layer structure, realize Staking and Slash technology that does not involve third parties. mechanism.

Babylon places the security of Bitcoin in the Bitcoin Data Availability Layer (Data Availability) and Bitcoin’s Layer 2. Babylon is developing a Bitcoin DA protocol that utilizes the critical tasks of defining the block space of the protocol and provides verification and verification for the block to verify its validity. The release of the protocol brings the world's most difficult-to-measure block space into its governance and forces countries around the world to stop illegal activities that abuse Bitcoin.

Babylon can be used as an intermediate layer between bitcoinrollup and bitcoin. As one of the intermediate layers to temporarily store data before bitcoin inscription, this layer 2 can greatly empower the entire ecosystem. Using Babylon to protect the security of layer 2 can also generate a large number of Bitcoin applications.

The above is the detailed content of What is Babylon? A comprehensive introduction to the Bitcoin staking protocol Babylon. For more information, please follow other related articles on the PHP Chinese website!