Babylon Bitcoin Staking Mainnet ka Launch: Phase-1

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1. Babylon Bitcoin Staking ka Phased Launch

Babylon Bitcoin staking protocol, bitcoin holders ko un network security ke saath jodta hai jo Proof-of-Stake systems jaise pos chains, L2s, Data Availability layers, oracles, aur doosre systems se hoti hai. Yeh bina kisi vishwasniya madhyak ke kiya jata hai.

Protocol ka launch teen alag charan mein kiya jayega.

1.1 Phase-1: Bitcoin Locking

Is phase ke dauran, bitcoin holders staking process shuru karte hain Bitcoin staking transactions ko Bitcoin blockchain par submit karke.

Har transaction designated bitcoins ko ek surakhshit, self-custodial Bitcoin staking script ke andar lock kar deti hai. Stakers bhi key parameters specify karte hain, including finality provider ka public key jise unhone apna PoS voting power delegate karne ke liye chuna hai. Yeh locked bitcoins ko agle phases mein PoS consensus validation mein actively participate karne ke liye tayaar karta hai.

Yeh dhyaan dene yogya hai ki agar staker associated finality provider ka private key bhi rakhta hai, to yeh delegation self-delegation mana jata hai. Chahe koi bhi case ho, sirf voting power hi delegate kiya jata hai. Staked bitcoins finality provider ko transfer nahi kiye jate.

1.2 Phase-2: Bitcoin Staking Activation

Is phase mein, ek Babylon PoS chain shuru ki jayegi jo Phase-1 mein lock kiye gaye bitcoins se crypto-economic security receive karegi.

Launch ke baad, Phase-1 se adequate delegations wale finality providers Babylon PoS chain ke consensus mein participate karenge aur iske blocks ki finality determine karenge. Babylon PoS chain Bitcoin timestamping protocol ko bhi enable karegi, jo cross-chain time synchronization ke liye zaroori hai Bitcoin staking ki security ke liye.

1.3 Phase-3: Bitcoin Multi-Staking Activation

Is phase mein, Babylon Bitcoin staking protocol ek marketplace mein evolve ho jayega jo shared security ke liye hoga, jismein kisi bhi PoS systems ko Bitcoin staking security ka upyog karne ki suvidha milegi.

Bitcoin holders ko ek hi samay par multiple PoS systems mein wahi bitcoins natively stake karne ki suvidha milegi, jisse unhe multiple staking rewards kamane ka mauka milega. Babylon PoS chain control plane ke roop mein kaam karegi jo sabhi PoS systems ke liye Bitcoin staking ko suvidha pradaan karegi.

2. Phase-1 ki Details

2.1 Maximum Staking samay aur On-Demand Unbonding

Phase-1 ke dauran, har stake ke saath ek maximum staking time set kiya jata hai (i.e., Bitcoin staking script mein time-lock) jo 64,000 Bitcoin blocks hota hai, jo lagbhag 15 months ke barabar hai. Iska matlab hai ki har stake is time period ke baad automatic expire ho jayegi aur withdrawal ke liye available ho jayegi.

Haan, stakers apni stake ko expiration se pehle kisi bhi samay on-demand unbond kar sakte hain. Ek on-chain unbonding period hoga jo 1008 Bitcoin blocks (lagbhag 7 din) ke liye hoga aur yeh unbonding Bitcoin script mein defined hai, iske baad stake expire ho jayegi aur withdrawal ke liye available ho jayegi.

2.2 Transactions Involved

Phase-1 mein sabhi transactions Bitcoin transactions hain, aur inmein shamil hain:

  • Staking: Bitcoin stakers staking ke liye, Bitcoin staking transactions generate karte hain aur unhe Bitcoin blockchain par submit karte hain.

  • Unbonding aur early withdrawal: Expiration se pehle stake ko unbond aur withdraw karne ke liye, staker ek unbonding transaction generate karega aur uske baad ek withdrawal transaction karega.

  • Automatic expiration aur withdrawal: Ek stake 64,000 Bitcoin blocks ke baad automatic expire ho jayegi, jab tak ki staker ne ise pehle unbond na kiya ho. Expired stake ko withdraw karne ke liye, staker ek withdrawal transaction generate karega.

Phase-1 mein stakers ko koi aur transactions ya messages sign karne ki zaroorat nahi hai.

Khaaskar, stakers PoS slashing ke liye consent sign nahi karenge. Is tarah, Phase-1 ke dauran staked bitcoin ka koi slashing nahi hoga.

2.3 Prarambhik Total Staking Cap

Security reasons ke liye, ek initial total staking cap 1,000 bitcoins ki hogi. Yeh cap Phase-1 ke progress ke saath relaxed ki jayegi.

  • Jo Pehle Aaye, Uska Pehle: Har stake ko first come, first served (FCFS) basis par accept kiya jayega, Bitcoin blockchain par unke order ke aadhaar par, jab tak cap pahunchti hai.
  • Overflow aur no-queuing: Jab cap pahunch jati hai, tab aane wale stakes ko overflow ke roop mein treat kiya jayega, aur unhe unbond aur withdraw karna chahiye. Koi staking queue nahi hai, iska matlab hai ki agar cap phir se khulta hai jab pehle se accepted stakes unbond hote hain, to overflow stakes automatically cap ko fill nahi karenge. Balki, naye staking transactions ko submit karna hoga taaki naye available cap capacity ko refill kiya ja sake. Yeh queue-less design users ko overflow stakes ko system mein rakhne se discourage karne ke liye hai.

2.4 Limits Per Staking Transaction

Initial 1,000 bitcoins ke total staking cap ke saath, staking transaction per bhi kuch limits hain:

  • Minimum stake: 0.005 bitcoins. Yeh ensure karne ke liye hai ki staking amount unbonding transaction fee (0.00064 bitcoins, jo Bitcoin miner ko jayegi) aur withdrawal transaction fee (jo staker ke dwara customizable hai) ko cover kar sake.

  • Maximum stake: 0.05 bitcoins. Yeh intentionally choti maximum limit broad participation ko encourage karne ke liye hai. Yeh ensure karta hai ki puri cap ko bharne ke liye kam se kam kuch Bitcoin blocks ke worth staking transactions ki zaroorat padegi. Yeh ek single entity ko ek Bitcoin block kharid kar poori cap ko lene aur is process mein baaki sabko bahar nikalne se rokhata hai.

Broad aur genuine participation ko aur promote karne ke liye, excessive stake splitting ko discourage kiya jata hai.

2.5 Point System aur Commissions

Phase-1 ke dauran koi direct staking reward nahi diya jayega kyunki abhi tak koi active PoS chain nahi hai. Iske bajaye, ek point system har staker ki activities ko measure karega, jo staker ke public key ke dwara track ki jayegi.

Initial 1,000-bitcoin cap ke dauran, har Bitcoin block ke liye 3,125 Babylon points allocate kiye jayenge. 3,125 points ko us block ke andar sabhi active stakes ke beech proportionally allocate kiya jayega. Alag status wale stakes, jaise overflow, unbonding, unbonded, aur withdrawn, koi points nahi prapt karenge.

Har active stake ke liye, uske staker aur finality provider dono ko points milenge, jismein finality provider apne commission rate ke adhaar par ek hissa lega.

Udaharan: Jab 1,000-bitcoin cap bhar jati hai, ek active stake of 0.05 bitcoins har Bitcoin block par 3,1250.05/1,000 = 0.15625 points kamayegi. Agar finality provider 5% commission charge karta hai, to staker 0.156250.95 = 0.1484375 points har Bitcoin block par kamayega aur finality provider 0.156250.05 = 0.0078125 points har block prapt karega jab stake active hai. 4,000 Bitcoin blocks (lagbhag ek mahina) ke dauran, agar cap full rehta hai, to staker 4,0000.1484375 = 593.75 points aur finality provider 4,000*0.0078125 = 31.25 points is stake se accumulate karega.

3,125 points per Bitcoin block sirf initial 1,000-bitcoin cap ke dauran hi lagu hote hain. Yeh, staking cap ke saath, Phase-1 ke dauran future mein adjustments ke liye subject ho sakta hai.

Legal Note: Points ko kabhi bhi tokens ya kisi aur digital assets mein convert nahi kiya ja sakta, na hi yeh kisi calculation ya accrual ke basis ke roop mein use kiya ja sakta hai. Points virtual items hain jin ki koi monetary value nahi hai. Points kisi bhi currency ya property ka hissa nahi hain aur na hi yeh redeemable, refundable, ya kisi bhi fiat ya virtual currency ya kisi aur cheez ke liye eligible hain. Points transferable nahi hain, aur aap kisi bhi tarah se points ko sell, trade, ya transfer karne ki koshish nahi kar sakte, ya points ka use karke kisi bhi tarah ka credit prapt nahi kar sakte. Points ko sell, trade, ya transfer karne ki koi bhi koshish null and void hogi, jab tak ki hum apne website par in rules ke likhit update mein explicitly kuch aur na kahen. Hum apne points program (including frequency, criteria, calculation ya eligibility earning points ke lye) ko kabhi bhi, notice ke saath ya bina notice ke, cancel, change, discontinue, limit, modify, ya withdraw karne ka hak rakhte hain, chahe points ka koi bhi particular accumulation ho. Points aapke jurisdiction mein available nahi ho sakte.

Aap agree karte hain ki points ya humare ya hamare affiliates ke dwara digital assets ki distribution se sambandhit koi bhi manipulative, fraudulent, dishonest, ya abusive activities mein shamil nahi honge. Isme shamil hai, lekin is tak simit nahi hai, multiple accounts create karna taaki additional points ya digital assets claim kiye ja sakein, bots ya scripts ka use karke claiming ko automate karna, ya kisi bhi schemes mein participate karna jo points ya digital assets ke number ya perceived value ko artificially inflate karti hain. Hum ya hamare affiliates aise activities ke karan aapke kisi bhi ya sabhi points ko terminate kar sakte hain, ya hum dwara grant kiye gaye kisi bhi license ko breach karne par, aur hum privately aur publicly yeh bata sakte hain ki aisa action kyun liya gaya.

2.6 Covenant Committee

Phase-1 mein, covenant committee ek multi-signature verification scheme hai jo on-demand unbonding process ko secure karti hai. Committee ka kaam stakers dwara submit kiye gaye unbonding transactions ko co-sign karna hai, taaki committee transaction ki correctness aur security ko verify kar sake.

Yeh note karna zaroori hai ki covenant committee staker ke bitcoins ko chura nahi sakti, aur stake ko expire aur withdrawable hone se nahi rok sakti, chahe committee compromised ho jaye.

Covenant committee ek 6-out-of-9 multi-signature scheme ke roop mein operate karti hai (iska matlab hai ki staker ke unbonding transaction submit karne ke baad 6 out of 9 keys ki zaroorat hoti hai transaction ko sign karne ke liye), jismein har key industry ke alag-alag sectors se reputable entities ke paas hoti hai:

AltLayer (1 key) – Rollup-as-a-Service provider

Babylon Labs (3 keys) – Project ke peeche core development team

CoinSummer Labs (1 key) – Top staking service provider (StakeFish) aur top mining pool (F2Pool) se affiliated

Cubist (1 key) – Secure staking infrastructure provider

Informal Systems (1 key) – Cosmos ecosystem validator

RockX (1 key) – PoS validator aur liquid staking provider

Zellic (1 key) – Security auditor

2.7 Stake ke Tareeke

Stake karne ke kuch Tareeke ye hain:

  • Official web application: Official Bitcoin staking web application (btcstaking.babylonlabs.io) verified finality providers ki list provide karti hai jinke paas stakers apna delegation kar sakte hain. Finality providers kaise register hote hain aur Phase-1 ke liye verify kiye jate hain, iske liye finality provider registration guide ko refer karein.

  • Third-party services: Jaise third-party staking websites, custody solutions, aur APIs.

  • Command-Line Interface (CLI) tools: Technically inclined users ke liye suitable.

Babylon Bitcoin staking mainnet mein participate karne wale LST (liquid staking token) protocols bhi hain. Yeh note karna zaroori hai ki LST protocols mein participate karke, aap directly Babylon Bitcoin staking mainnet mein participate nahi karte, kyunki staking aur points dono LST protocols ke dwara handle kiye jate hain.

Importantly, hum LSTs, LST code, ya ecosystem ke kisi bhi anya participants, including third-party services, ko review ya endorse nahi karte, isliye inka use karne se pehle caution bartein aur apne investigations aur research khud karein. Ek general rule ke roop mein, stakers ko Bitcoin blockchain ya Bitcoin staking mein participate karne se pehle apne investigations aur research khud karni chahiye.

Kisi bhi web application btcstaking.babylonlabs.io ka upyog, ya Babylon Labs website ka upyog, ya wahan par maujood kisi bhi content ya material ka upyog, us samay wahan posted Terms of Use ke anusaar hi niyantrit hoga.

2.8 Eligibility

Staking mana hai, aur agar aap in mein se kisi bhi shreni mein aate hain, to aapko points ya staking awards nahi milenge:

(a) Aap kisi bhi aise country ke resident, agent, ya entity nahi honi chahiye jahan United States, United Kingdom, European Union ya uske kisi bhi member states, ya United Nations ya uske kisi bhi member states (milakar “Major Jurisdictions”) goods embargo ya sanctions impose karte hain; ya agar aap, ya agar aap directly ya indirectly kisi bhi person ya entity ko own ya control karte hain jo Major Jurisdictions ke kisi bhi sanctions list ya equivalent mein listed hai; ya

(b) a U.S. 17 CFR § 230.902 mein vyaktitv ki vyakhya ke mutabiq, agar aap abhi ya aam taur par United States of America, Canada, Australia, ya Mainland China mein sthit hain, ya vahaan ke nivasi hain (ya yadi aap in deshon mein se kisi mein sammilit ya sangathit hain), to aap staking nahi kar sakte.

Yeh list bina notice ke samay-samay par update ki ja sakti hai.

3. Security Audits

Phase-1 codebase ko nimnlikhit entities dwara audit kiya gaya hai:

Coinspect: Audit Report

Zellic: Audit Report

Cantina: Ek public security campaign ke zariye, researchers aur engineers ne code ka review kiya aur bugs aur issues ko report kiya jo bounties ke liye eligible the. Campaign Report

Kripya samjhein ki plans ko aksar mainnet launch ke baad update, revise, modify, ya improve karne ki zaroorat hoti hai. Kripya yahan aksar wapas aakar updates, clarifications, ya modifications check karte rahen.