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Babylon protocol: BTC stake provides a new security solution for PoS chains
Bitcoin Stake New Plan: How Babylon Provides Security for PoS Chains
The Babylon project aims to allow Bitcoin holders to provide staking services to other blockchains and earn rewards without leaving the Bitcoin network. Its core mechanisms include:
Remote stake: BTC is retained on the Bitcoin mainnet for staking.
Customized staking contracts: Use Bitcoin scripts to create special transaction types to achieve stake locking.
Cross-chain communication: Using the Cosmos IBC protocol to transmit messages between Bitcoin and other chains.
Additional security layer: Record the key data hashes of the PoS chain onto the Bitcoin blockchain to form "checkpoints".
The main advantages of Babylon:
Compared to Eigenlayer:
Overall, Babylon provides new earning opportunities for BTC holders while bringing additional security guarantees to PoS chains. As the protocol matures, it may lead to more innovative applications.