Bitcoin Staking Platform Babylon to Start Phased Mainnet Launch This Week

Babylon, backed by over 200 finality providers, is set to launch its first main network phase on Aug. 22, enabling BTC staking for users.

The project aims to bring staking capabilities to Bitcoin, a feature typically absent in its ecosystem, to enhance Bitcoin's utility significantly.

This innovative approach by Babylon, led by Stanford's David Tse, represents a significant development in blockchain technology, merging Bitcoin with staking principles.

Babylon's first phase allows BTC holders to lock up to 1,000 BTC for staking, promising rewards and operational support for the network.

Read at Coindesk