Babylon Chain CTO Highlights Bitcoin Network’s Potential in Enhancing Security of PoS Chains

[Alice]

Babylon Chain’s co-founder and CTO, Fisher Yu, claims that their bitcoin staking protocol eliminates the need for bridges and lenders when staking bitcoins. The protocol allows holders of bitcoin to stake their assets without giving them to third parties, providing Security guarantees to proof-of-stake (PoS) chains. Yu believes that by allowing bitcoin holders to stake their idle assets, the overall economic security of PoS chains can be enhanced, helping to solve the Blockchain trilemma of security, scalability, and decentralization. The bitcoin staking protocol also enables tight synchronization between the Bitcoin network and PoS chains, ensuring fast unstaking without compromising security. Additionally, Yu states that Babylon’s protocol strikes a balance between security and the autonomy of PoS chains, as it does not interfere with the chain’s consensus protocol or governance voting. The protocol can also help secure cross-chain transactions and act as a control plane for PoS chains. Overall, Babylon’s bitcoin staking protocol aims to bring Bitcoin-grade security to PoS chains, app chains, and applications while incentivizing BTC holders.
Babylon Chain CTO Highlights Bitcoin Network’s Potential in Enhancing Security of PoS Chains


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