{"id":36273,"date":"2024-08-19T19:22:31","date_gmt":"2024-08-19T19:22:31","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/self-custodial-bitcoin-staking-protocol-babylon-announces-mainnet\/"},"modified":"2024-08-19T19:22:31","modified_gmt":"2024-08-19T19:22:31","slug":"self-custodial-bitcoin-staking-protocol-babylon-announces-mainnet","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/self-custodial-bitcoin-staking-protocol-babylon-announces-mainnet\/","title":{"rendered":"Self-custodial Bitcoin staking protocol Babylon announces mainnet"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/08-BTC-Bridge-4-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/08-BTC-Bridge-4-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/08-BTC-Bridge-4-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/08-BTC-Bridge-4-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">Babylon, the self-custodial Bitcoin staking protocol, will launch its mainnet on August 22, 2024.<\/span><\/li>\n<li><span style=\"font-weight: 400\">The launch brings a \u201cthird native use-case of Bitcoin\u201d to users, adding staking to its store of value and payment, Fisher Yu, co-founder of Babylon, said.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Babylon, a self-custodial Bitcoin staking protocol, has announced the launch of its phase-1 mainnet as it eyes the growing decentralised finance market on the leading blockchain network.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Babylon announces Bitcoin staking mainnet<\/span><\/h2>\n<p><span style=\"font-weight: 400\">In an announcement on Monday, the protocol <a href=\"https:\/\/babylonlabs.io\/blog\/babylon-bitcoin-staking-mainnet-launch-phase-1\" target=\"_blank\" rel=\"noopener\">revealed<\/a> its mainnet launch will go live on August 22, 2024. The first phase of the mainnet will allow BTC holders to <a href=\"https:\/\/coinjournal.net\/cryptocurrencies\/staking\/\">stake their coins<\/a> with the self-custodial protocol.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udd36\ud83d\udd12 Countdown to Babylon Bitcoin Staking Mainnet launch has begun!<\/p>\n<p>\ud83d\udd11 Self-custodial Bitcoin Staking<br \/>\ud83d\udee1\ufe0f Bitcoin security for PoS Systems<br \/>\u26a1 On-demand Unbonding <br \/>\ud83d\udc8e Leverages $1T+ idle Bitcoin Capital<\/p>\n<p>\ud83d\udcd6 Read the announcement: <a href=\"https:\/\/t.co\/awTMV1c5Q6\">https:\/\/t.co\/awTMV1c5Q6<\/a><\/p>\n<p>\ud83d\udd12 Staking Dashboard:\u2026 <a href=\"https:\/\/t.co\/TItPoUbLv2\">pic.twitter.com\/TItPoUbLv2<\/a><\/p>\n<p>\u2014 Babylon (@babylonlabs_io) <a href=\"https:\/\/twitter.com\/babylonlabs_io\/status\/1825503220778578097?ref_src=twsrc%5Etfw\">August 19, 2024<\/a><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">Meanwhile, upcoming phases will see the Bitcoin protocol allow proof-of-stake networks to tap into the $1 trillion bitcoin network security. Projects that can gain access to and utilise this ecosystem include layer-2 chains, data availability layers and oracles.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cThis launch leads to the third native use-case of Bitcoin, the asset beside value storage and simple payment: stake to secure networks and earn,\u201d Fisher Yu, co-founder of the Babylon project, said. \u201cWe expect this to enhance the crypto-economic security of PoS chains and other decentralised applications, offering them a more secure and reliable infrastructure, while at the same time unlocking the value from the idle, unencumbered $1 trillion Bitcoin ecosystem.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">Babylon\u2019s announcement comes after the platform raised $70 million in a funding round led by crypto venture capital firm Paradigm. Mainnet is supported by more than 200 finality providers, including Allnodes, Galaxy Digital, P2P, Figment, Luganodes, and Stakefish.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The project has also received support from top wallets such as Binance Web3 Wallet, OKX Web3 Wallet, <a href=\"https:\/\/coinjournal.net\/news\/bitget-wallet-integrates-babylon-testnet-to-simplify-bitcoin-staking\/\">Bitget Wallet<\/a>, Keystone and TomoWallet.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/self-custodial-bitcoin-staking-protocol-babylon-announces-mainnet\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Babylon, the self-custodial Bitcoin staking protocol, will launch its mainnet on August 22, 2024. The launch brings a \u201cthird native use-case of Bitcoin\u201d to users, adding staking to its store of value and payment, Fisher Yu, co-founder of Babylon, said. Babylon, [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":36274,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/36273"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=36273"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/36273\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/36274"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=36273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=36273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=36273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}