Welcome to the official Babylon Discourse!
Babylon: Unlocking 21M Bitcoins to Secure the Proof-of-Stake Economy
Proof-of-Stake chains together with Proof-of-Work Bitcoin each occupies half of the crypto economy but are economically isolated. We propose the concept of Bitcoin staking to integrate the two economies by allowing idle bitcoins to be staked on PoS chains to increase their economic security while getting PoS yield. Our Bitcoin staking protocol allows bitcoin holders to securely stake their bitcoins without bridging to the PoS chain, while providing first-of-class security to the chain. The protocol supports fast stake unbonding to maximize liquidity for the bitcoin holders.
Technology & Use Cases:
Babylon’s technology supports several use cases, such as Bitcoin staking, fast stake unbonding, bootstrapping new zones, protecting important transactions, and censorship resistance. Babylon can reduce unbonding periods from 21 days to 5 hours, bootstrap new zones with low token valuation, provide much-needed protection for high-value asset transfers across bridges between PoS chains, and allow transactions that are censored to be backed up in the ledger. Babylon offers core primitives and protocols that use timestamp information to realize these use cases, ensuring maximum security for the blockchain ecosystem.
The Babylon architecture consists of three components with two levels of checkpointing, including Bitcoin as the timestamping service, the Babylon chain as the middle layer, and other consumers of security. The Babylon chain aggregates the checkpoint streams of many consumer zones and receives checkpoints from the consumer zones via Inter Blockchain Communication (IBC). It checks for the availability of the data behind the checkpoints of the consumer zones to prevent an attacker from timestamping unavailable data.
Don Cryptonium interview with David Tse: Babylon Chain - Interview with David Tse - YouTube
Bitcoin Security for the Cosmos with David Tse: Babylon Chain: Bitcoin Security for Cosmos - with David Tse - YouTube
Interchain FM: How Babylon Will Turn Bitcoin into the Cosmos Settlement Layer - YouTube
Cryptocito chats with David and Zaki Everything about Babylon - Cryptocito chats with David and Zaki - Babylon
Blog: Checking pointing Babylon to BTC : Checkpointing Babylon to BTC - Babylon
Blog: Bitcoin Security for the Cosmos and Beyond: Babylon: Bitcoin Security for Cosmos and Beyond - Babylon
Babylon Developer Docs: https://docs.babylonchain.io/
Tse Labs: Blockchains & Decentralized Systems | Tse Lab at Stanford University
David Tse Website: http://www.davidtse.io/
Logos: Babylon Brand Assets - Google Drive
Medium: BabylonChain.io - Medium
Instagram: Babylon (@babylonlabs) • Instagram photos and videos