by Penny Angeles-Tan | Dec 16, 2024 | Business
Discover the growing popularity of Babylon Chain, a Bitcoin staking platform blending BTC’s robust security with PoS flexibility. With over 124,410 stakers and $3.6B in deposits, Babylon Chain offers high yields, unmatched security, and transparency. Stake BTC now and earn rewards while enhancing blockchain security!
Staking has emerged as a key feature in the blockchain ecosystem, allowing cryptocurrency holders to lock their assets, contribute to network security, and earn rewards. Babylon Chain takes this a step further by integrating the robust security of Bitcoin (BTC) with the flexibility of Proof-of-Stake (PoS) networks.
This innovation transforms Bitcoin from a store of value into an active contributor to blockchain security and decentralization.
What is Babylon Chain?
Babylon Chain is a Bitcoin staking platform designed to enhance the security of PoS-based blockchains. It enables Bitcoin holders to lock their assets and use them to bolster the economic security of PoS networks without involving third parties, such as custodians.
The platform leverages three unique aspects of Bitcoin:
1. Timestamping: Recording events from other blockchains onto the Bitcoin network.
2. Blockspace: Utilizing Bitcoin’s blockchain capacity.
3. Asset Value: Using Bitcoin’s economic value to reinforce PoS networks.
How Babylon Chain Works
Babylon Chain uses several core protocols to create a secure and efficient ecosystem:
1. Bitcoin Staking Protocol
This protocol allows BTC holders to stake their assets directly in PoS chains without wrapping or transferring them to another platform. This ensures asset liquidity and security.
2. Bitcoin Timestamping Protocol
By recording events from other blockchains onto Bitcoin’s network, this protocol leverages Bitcoin’s Proof-of-Work (PoW) security to protect PoS chains against long-range attacks that could compromise their integrity.
3. Bitcoin Data Availability Protocol
Ensures that data from other blockchains remains accessible and secure via Bitcoin’s infrastructure.
Babylon Chain’s Achievements
Babylon Chain has achieved remarkable milestones, with total deposits exceeding 36,100 BTC (equivalent to approximately $3.6 billion). In the past week, Bitcoin deposits surged by 51.4%, with a staggering $1.2 billion deposited in just two days (December 10–11, 2024).
As of this writing on December 16, Babylon’s official account on X posted data on the number of users who have staked Bitcoin. There are over 124,410 users who have staked BTC at the end of phase-1 which will close in less than 24 hours.
This growth was fueled by major platforms like Binance and Bitrue, which began supporting Babylon Chain’s yield-earning program. Nearly 14,000 new users joined within a single day, raising the total number of unique depositors to over 62,000.
Key Advantages of Babylon Chain
There are many benefits offered in Babylon Chain that you can get, such as:
1. High Security
Babylon Chain employs advanced cryptographic technology like Extractable One-Time Signatures (EOTS) to ensure robust protection for users.
2. Flexibility
The platform offers quick and secure unbonding processes, allowing users to access their assets without compromising security.
3. Attractive Yields
Bitcoin holders can earn competitive rewards while contributing to the security of PoS networks.
4. Transparency and Decentralization
Babylon Chain eliminates the need for third-party custodians, enabling Bitcoin holders to retain full control over their assets.
Benefits of Bitcoin Staking with Babylon Chain
There are many advantages you can get when staking Bitcoin on Babylon, such as:
1. Diversified Utility: Expands Bitcoin’s functionality beyond passive investment.
2. Earn Rewards: Offers BTC holders additional income through staking.
3. Enhanced PoS Security: Strengthens blockchain networks by integrating Bitcoin’s security.
Babylon and Bitrue Strategic Partnership
Babylon is collaborating with Bitrue as one of the global crypto exchanges by holding the Babylon BTC Staking campaign which will last until December 17, 2024. BTC staking on Babylon through Bitrue provides rewards of up to 2.3% APR complete with Babylon points. That way, you will get double rewards when staking BTC in this BitrueXBabylon campaign.
The maximum APR is 2.3% with a base rate of 1.3%. You will also get additional income with a base rate of 1.12x for every friend you invite to join this BTC Babylon staking campaign. Here are the details of the rewards:
- Invite 1 friend who registers and makes their first deposit: APR increases to 1.46%.
- Invite 2 friends: APR increases to 1.63%.
- Invite 3 friends: APR increases to 1.83%.
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Invite 4 friends: APR increases to 2.05%.
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Invite 5 or more friends: Maximum APR of 2.3%.
Risks and Considerations
While Babylon Chain offers significant benefits, it’s essential to weigh the associated risks:
1. Market Volatility: The value of staked BTC can fluctuate, potentially impacting overall returns.
2. Platform Risks: Technical or operational failures could put staked assets at risk.
3. Lock-Up Periods: Some staking mechanisms may require assets to be locked for a fixed duration, limiting liquidity.
Conclusion
Babylon Chain introduces a groundbreaking approach to Bitcoin staking by integrating PoW security with PoS flexibility. By allowing BTC holders to stake without wrapping or transferring assets, the platform provides a transparent and secure solution for earning yields while enhancing blockchain security.
For those seeking a safe and innovative way to grow their Bitcoin holdings while supporting decentralized ecosystems, Babylon Chain is a compelling choice.
So, what are you waiting for? You can directly stake Bitcoin on Babylon chain via Bitrue to get maximum profit.
This Press Release has also been published on VRITIMES
by Penny Angeles-Tan | Dec 16, 2024 | Business
Discover how Babylon and Bitrue revolutionize Bitcoin staking through Babylon BTC Staking campaign with innovative Proof-of-Stake (PoS) technology backed by Bitcoin’s blockchain. Learn about secure self-custodial staking, competitive rewards, and how Babylon unlocks Bitcoin’s potential in DeFi.
The cryptocurrency landscape has always been marked by innovation, and Babylon has emerged as a game-changer in this dynamic ecosystem. Led by visionaries David Tse and Mingchao (Fisher) Yu, Babylon redefines Bitcoin staking through a novel proof-of-stake (PoS) framework secured by Bitcoin’s blockchain.
This article delves into their groundbreaking contributions, Babylon’s purpose, and how platforms like Bitrue make Bitcoin staking accessible. You will also get an explanation about maximizing rewards through the Babylon BTC staking campaign hosted by Bitrue. So, let’s read this article until the end.
Get to Know about Babylon and Its Founders
Babylon is a blockchain project enabling staking for Bitcoin through a hybrid framework. Unlike traditional PoS systems, Babylon leverages Bitcoin’s blockchain for security while maintaining its PoW fundamentals. Key features include:
1. Self-Custodial Staking: Users stake BTC without relinquishing control of their assets.
2. Blockchain-Backed Security: Robust security underpinned by Bitcoin’s immutable blockchain.
3. Babylon Points: Additional rewards alongside staking returns, incentivizing participation.
Babylon’s Cap-3 initiative exemplifies its innovation. This staking program, lasting approximately 1,000 Bitcoin blocks (one week), simplifies staking through platforms like Bitrue, attracting both novice and seasoned investors.
Babylon has 2 founders whose personalities you can learn about by reading the following explanation.
1. David Tse, a globally renowned professor of electrical engineering at Stanford University, is a pioneer in distributed systems, network coding, and blockchain technology. His academic rigor provides the foundation for Babylon’s cutting-edge approach to integrating Bitcoin into the staking ecosystem.
2. Mingchao (Fisher) Yu, an experienced blockchain entrepreneur, complements Tse’s theoretical expertise with practical insights. Together, they aim to unlock Babylon Bitcoin staking potential while maintaining decentralization and accessibility.
Their collaboration bridges the gap between Bitcoin’s proof-of-work (PoW) limitations and the innovative possibilities of PoS, ensuring a secure, scalable, and inclusive staking model.
Babylon and Bitrue: Simplifying Bitcoin Staking
While Babylon’s technology revolutionizes Bitcoin staking, its partnership with Bitrue ensures accessibility. Bitrue, a user-friendly crypto exchange, eliminates the complexities of on-chain transaction management. Key benefits include:
1. Seamless Staking Experience: Accessible for users regardless of technical expertise.
2. User-Friendly Interface: Accessible for beginners and experts alike.
3. Competitive Rewards: Earn up to 2.3% annual returns by staking BTC.
4. Integrated Babylon Points: Additional incentives for participants.
By combining Babylon’s self-custodial system with Bitrue’s intuitive platform, Bitcoin staking becomes secure and straightforward, encouraging broader adoption.
Babylon BTC Staking: A Game-Changer in DeFi
Bitcoin, traditionally a store of value, lacked functionality in decentralized finance (DeFi). Babylon addresses this limitation with Babylon Staking BTC , enhancing Bitcoin’s utility and securing its position in DeFi.
Unique Features of Babylon BTC Staking:
1. Trustless Staking: Users maintain control of their assets, avoiding reliance on third-party custodians.
2. Full Slashability: Protocol violations result in penalties, ensuring security.
3. Fast Unbonding: Quick withdrawal of staked assets enhances liquidity.
By unlocking Bitcoin’s idle capital, Babylon boosts its Total Value Locked (TVL), currently leading Bitcoin DeFi with $3.533 billion.
Challenges Addressed by Babylon’s Innovation
Babylon tackles two primary challenges in Bitcoin staking:
1. Bridging Risks: Traditional methods of bridging Bitcoin to PoS chains rely on centralized custodians, introducing vulnerabilities. Babylon’s protocol avoids bridges, keeping Bitcoin assets secure on-chain.
2. Remote Staking Complexity: Without smart contracts, implementing staking on Bitcoin requires innovative solutions. Babylon employs cryptographic techniques and consensus gadgets to ensure security and slashability.
These innovations make Babylon a secure and decentralized solution for integrating Bitcoin into the PoS ecosystem.
The Role of Proof-of-Stake in Babylon’s Vision
Babylon’s proof-of-stake (PoS) offers energy efficiency, scalability, and accessibility compared to Bitcoin’s PoW. Babylon’s unique PoS layer leverages Bitcoin’s blockchain, enabling staking without altering its core architecture. This hybrid model introduces:
1. Bitcoin-Backed Security: Ensuring decentralization and reliability.
2. Self-Custodial Staking: Allowing users to retain control over their assets.
3. Enhanced Utility: Bridging Bitcoin with DeFi ecosystems.
Driving Bitcoin’s Growth in DeFi
Bitcoin’s current TVL in DeFi stands at $4.876 billion, with Babylon contributing over $3.533 billion. This dominance reflects Babylon’s ability to attract capital and enhance blockchain security. Key growth drivers include:
1. Increased Adoption: Trustless staking models encourage participation.
2. Scalable Integration: Babylon’s modular design supports multiple PoS chains.
3. Expanded Utility: Unlocking new use cases for Bitcoin’s $600 billion market cap.
Conclusion
BTC Babylon Staking represents a pivotal advancement in Bitcoin’s ecosystem. By addressing the limitations of PoW and introducing a Bitcoin-backed PoS framework, Babylon unlocks new possibilities for staking, utility, and DeFi integration.
Together with platforms like Bitrue, Babylon ensures that Bitcoin holders can actively participate in this evolving landscape, securing their assets while earning competitive rewards. As Babylon continues to innovate, it solidifies Bitcoin’s position as a dominant force in decentralized finance.
This Press Release has also been published on VRITIMES
by Penny Angeles-Tan | Dec 13, 2024 | Business
Ripple Labs achieves a milestone with NYDFS approval for its RLUSD stablecoin, boosting XRP’s price by over 23%. Explore how RLUSD is reshaping the stablecoin market with full transparency, regulatory compliance, and global accessibility.
Ripple Labs has achieved a breakthrough with its stablecoin, RLUSD, receiving approval from the New York Department of Financial Services (NYDFS). This regulatory milestone solidifies Ripple’s position as a key player in the cryptocurrency sector and has significantly impacted the value of its native token, XRP.
RLUSD: A New Challenger to Tether and Circle
Introduced in April, RLUSD is designed to rival popular stablecoins such as Tether’s USDT and Circle’s USDC. Backed by NYDFS approval, RLUSD enters the market with the distinct advantage of full compliance with U.S. financial regulations.
Key features of RLUSD include:
1. Full Collateralization: Backed entirely by U.S. Treasury bonds.
2. Regulatory Compliance: Adheres to GAAP, Basel III, and Dodd-Frank regulations.
3. Transparency: Ripple offers real-time audits to maintain investor confidence.
RLUSD is structured for financial stability, with its underlying assets stored in regulated institutions, ensuring safety and trust for users.
Impact on XRP and Ripple’s Ecosystem
The NYDFS approval fueled a sharp rise in XRP’s value, surging 23% from $2.03 to $2.40 within hours. This increase reflects the market’s optimistic sentiment toward Ripple’s innovation.
At the time of writing this article on December 13, 2024, the price of XRP has decreased by 4.89% to trade at $2.3242. This price is certainly not much different from the highest price of XRP in 24 hours of $2.45.
Ripple CEO Brad Garlinghouse announced plans to make RLUSD accessible on global platforms such as Bitstamp, Uphold, and MoonPay. This accessibility is expected to drive decentralized finance (DeFi) adoption, utilizing RLUSD in liquidity pools and automated market makers (AMMs) on the XRP Ledger.
RLUSD and the Future of Global Stablecoins
RLUSD is projected to reach a $2 trillion market capitalization by 2028, with its growth supported by extensive cross-network testing on Ethereum and XRP Ledger since August.
Crypto analyst Vincent Van Code highlights RLUSD as one of the most transparent and secure stablecoins available. This sets it apart from USDT and USDC, which have faced scrutiny over regulatory gaps.
The Road Ahead: Challenges and Opportunities
While RLUSD has immense potential, it also faces challenges:
1. Competition with Established Players
Competing with USDT and USDC requires Ripple to continually innovate and differentiate RLUSD through unique use cases and partnerships.
2. Market Volatility
As stablecoins are increasingly scrutinized, maintaining transparency and adherence to regulatory standards will be critical for RLUSD’s credibility and growth.
3. Regulatory Landscape
Despite gaining NYDFS approval, Ripple must navigate varying regulations in other jurisdictions to ensure RLUSD’s seamless global adoption.
Political Shifts and Market Support
Recent political developments in the United States are further bolstering Ripple’s momentum. Donald Trump’s re-election and the appointment of crypto-friendly Paul Atkins as SEC Chair signal a more supportive regulatory environment for cryptocurrencies.
At the Bitcoin MENA 2024 conference, Eric Trump announced tax exemptions for U.S.-based cryptocurrencies, including XRP. This initiative aims to position the U.S. as a global cryptocurrency hub, enhancing Ripple’s growth prospects.
Conclusion
With NYDFS approval and a robust framework, RLUSD is poised to become a formidable competitor in the stablecoin market. Its regulatory compliance, transparency, and financial stability give Ripple a significant edge in building a decentralized and inclusive financial ecosystem.
This achievement not only instills renewed hope in the XRP community but also sets a precedent for stablecoins, proving that innovation aligned with regulatory standards is the key to long-term success in the rapidly evolving crypto landscape.
If you think XRP is worth considering as a token that is worthy of being your investment instrument, don’t forget to do in-depth research before buying the token. Take advantage of Bitrue’s various features to find out today’s XRP price and its conversion price from XRP to USD.
Bitrue also has an event that will give you maximum rewards when buying XRP tokens. Take advantage of this event opportunity to get rewards of up to 66,666 USDT. This event can be followed by anyone by logging in to the Bitrue website and application. Don’t miss it because you can get the maximum benefit from XRP on December 24, 2024.
This Press Release has also been published on VRITIMES
by Penny Angeles-Tan | Dec 11, 2024 | Business
Discover how to maximize your earnings with the Babylon BTC Staking campaign on Bitrue. Learn about the benefits of secure Bitcoin staking, competitive interest rates, flexible participation, transparent asset management, and proportional profit sharing. Find out how to stake BTC effortlessly and unlock new opportunities in the crypto ecosystem with Babylon and Bitrue.
When switching from traditional investment instruments to modern investments such as crypto, there is nothing wrong with looking at Bitcoin, instead of other tokens with cheaper prices. Many crypto exchanges are collaborating, such as Bitrue’s collaboration with Babylon Labs to hold an event about the Babylon BTC Staking campaign so that you can get maximum income from investing in the crypto ecosystem.
In this article, we will specifically discuss the Babylon BTC Staking campaign that Bitrue is carrying out, starting with the benefits and how to stake BTC with Babylon and then going into the details of the benefits you can get. So, read this article until the end.
Main Benefit of Babylon BTC Staking on Bitrue
As the king of crypto, Bitcoin is targeted by many investors. However, Bitcoin staking not accompanied by a smart contract makes many investors hesitate to invest because they want to avoid taking higher risks. A safer BTC staking solution is offered by Babylon Labs.
Babylon provides a sense of security by assuring that BTC staking occurs entirely on the Bitcoin network. That way, the security of user investments is fully protected. Through this collaboration with Bitrue, Babylon BTC staking, in addition to providing a high sense of security, will also offer maximum benefits to users.
Some of the benefits of Babylon BTC staking are:
1. Proven High Security
Babylon provides an innovative protocol on Bitcoin security so that it will protect assets carefully. Investors are guaranteed to always have full control over their assets independently so that the profits obtained are protected by playing from the security and stability of Bitcoin’s decentralized infrastructure.
2. Latest Interest Rates in the Market with Flexible Nature
Babylon BTC Staking campaign currently held by Bitrue will provide maximum income benefits for users. The reason is, the APR that can be obtained by users can reach 2.3% and the user’s APY can also increase by 1.12x. That way, the benefits obtained by staking BTC with Babylon on Bitrue can make you more money.
3. Flexible User Participation
Participating in the Bitcoin staking campaign in Bitrue’s collaboration with Babylon is not at all binding with coercion because you can easily join or even leave at any time. Because the distribution of income is done every day so you can easily monitor the profits you get.
4. Proportional Profit Sharing
Profit sharing is also done proportionally according to the amount of staking you do. You can easily check in the Babylon Points section in My Ownership.
5. Transparent Asset Management
The assets you stake will be managed safely and transparently as you can view them for monitoring at any time in the “My Assets – Spot Assets – Locked Assets” section during your staking period on Bitrue.
How to Stake BTC with Babylon on Bitrue
Bitrue’s Babylon BTC staking campaign has started since December 10th with a system where users who make transactions first will get first-served. Later, when you have successfully staked, on-chain staking will be done on T+1 and point distribution will be done on T+2.
In more detail, here is an explanation of how to stake BTC on Babylon via Bitrue.
- You must connect a Bitcoin wallet that supports the Babylon staking platform.
- Transfer BTC to an available staking contract by initiating an on-chain transaction to lock Bitcoin.
- You can monitor rewards because Babylon will immediately provide you with tools that can be used to track staking rewards according to mining activity updates.
Conclusion: Babylon BTC Staking on Bitrue is an Ideal Choice
It can be seen in the Bitcoin price chart snippet today above. Although the price of BTC has fallen from the throne of $ 100,000, the price of BTC still promises to be a strong investment choice in the future.
If you are still confused about how BTC staking works on Babylon, you can directly access the Bitrue blog and learn various information there. However, you need to know that Babylon BTC staking through Bitrue has advantages that you can consider, including:
- You can directly stake on Bitrue without having to go through on-chain transactions that often provide obstacles.
- Bitrue will immediately provide returns that you can predict quickly so that the risk you get is very minimal.
- The Bitrue interface is very user-friendly so it is easy for you to access, especially for staking, even if you are still a beginner in investing in the crypto ecosystem.
However, don’t forget to keep doing in-depth research in every step of your crypto investment. Take advantage of Bitrue’s various features that can make it easier for you to do research.
This Press Release has also been published on VRITIMES
by Penny Angeles-Tan | Dec 10, 2024 | Business
Discover Babylon Bitcoin Staking: a secure, decentralized way to stake BTC, earn rewards, and enhance PoS blockchain security without third-party custody. Join Bitrue’s Babylon BTC Staking Campaign starting December 10, 2024!
Babylon Bitcoin Staking has emerged as an innovative approach in the crypto ecosystem, providing a transformative solution for Bitcoin holders to participate in the security of Proof-of-Stake (PoS) blockchain networks without transferring their assets to third parties.
This groundbreaking protocol empowers Bitcoin to transition from a passive asset to an active player in decentralized finance (DeFi). Here’s an in-depth look at Babylon Bitcoin Staking and the key features that make it a game-changer.
What is Babylon Bitcoin Staking?
Babylon Bitcoin Staking is a protocol designed to integrate Bitcoin into the PoS ecosystem by allowing holders to stake their BTC directly.
Unlike traditional PoS systems that require validators to lock substantial capital, Babylon leverages Bitcoin’s vast market capitalization—over $1 trillion—without requiring asset transfer or bridging.
This approach transforms Bitcoin into a dynamic instrument for securing PoS networks while rewarding participants with staking incentives.
Key Features of Babylon Bitcoin Staking
1. Independent Custody for Full Asset Control
Participants maintain full control over their Bitcoin throughout the staking process, eliminating the need to entrust assets to a third party. This independent custody system reduces risks of asset loss due to errors or external failures, enhancing trust and security.
2. No Bridging or Wrapping
Unlike other cross-chain staking methods, Babylon does not require bridging or wrapping of Bitcoin. By eliminating these steps, the protocol mitigates technical and security vulnerabilities often associated with such processes.
3. Phased Implementation
The protocol adopts a step-by-step approach to ensure smooth integration: (1) Early Stage: Users lock Bitcoin in a self-service vault; and (2) Advanced Level: Participants can engage in PoS consensus across multiple networks, diversifying opportunities and rewards.
4. Layered Security with Penalties
Babylon employs a slashing mechanism to ensure PoS network security. Misbehaving participants face penalties, reinforcing compliance and trust within the ecosystem.
5. Flexible Withdrawals
Participants can withdraw their staked Bitcoin after a standard seven-day period, providing liquidity and maintaining the integrity of the staking process.
6. Timestamping for Enhanced Security
Babylon binds PoS chain data to the Bitcoin blockchain using a timestamping mechanism. This integration ensures data integrity, leveraging Bitcoin’s immutability for added security.
7. Decentralized Governance
The protocol is managed by a treaty committee responsible for oversight, ensuring compliance, transparency, and trust.
8. Reward System with Babylon Points
In its initial phase, Babylon rewards participants through a points-based system rather than direct token payouts. These points, accrued based on the amount and duration of staking, may later convert into native tokens, incentivizing early adopters.
9. Regulatory Compliance
To navigate legal landscapes, Babylon limits access to certain regions, including the United States, Canada, Australia, and Mainland China.
Babylon Points: A Revolutionary Reward Mechanism
Babylon Points represent the cornerstone of the Babylon staking reward system. These points are allocated proportionally based on the Bitcoin staked and the duration of staking, laying the groundwork for a future token-based incentive structure.
Key Benefits of Babylon Points
1. Future Token Rewards: Points may convert into native tokens, offering potential monetary benefits as the protocol matures.
2. Incentives for Early Participation: Early participants receive higher rewards, maximizing their long-term benefits.
3. Fair Distribution: Rewards are allocated proportionally, encouraging long-term engagement and fairness.
Distribution Details
In initial phases, capped Bitcoin volumes ensure equitable distribution. For example, Cap-1 allowed staking of 1,000 BTC with 3,125 points distributed per block, while Cap-2 increased both the staking cap and reward points.
How the Babylon Protocol Works
Babylon employs a three-layer structure to optimize Bitcoin’s security and decentralization for PoS networks:
1. Bitcoin Network Layer: Utilizes the Bitcoin blockchain for timestamping and transaction integrity.
2. Control Layer: Acts as middleware between the Bitcoin network and PoS chains, managing data, staking rights, and transaction finality.
- Data Layer: Facilitates communication and security integration across multiple PoS chains.
Conclusion: Babylon BTC Staking Campaign
Babylon Bitcoin Staking represents a pivotal moment in the evolution of Bitcoin as a more versatile asset within the blockchain ecosystem.
By enabling secure, efficient, and decentralized staking, Babylon redefines the role of Bitcoin, transforming it from a passive store of value into an active instrument for securing PoS networks.
With its innovative Babylon Points system and user-centric approach, the protocol offers a promising pathway for Bitcoin holders to actively engage and reap benefits in the expanding world of decentralized finance.
For those of you who are interested in Babylon, Bitrue as a global crypto exchange, is holding a “Babylon BTC Staking Campaign” with various rewards. You can stake Bitcoin and get Babylon points as well as up to 2.3% APR on your BTC staking. Check out the details of the event on the Bitrue website because the event starts on December 10, 2024.
This Press Release has also been published on VRITIMES
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