Babylon Launches First Phase of Non-Custodial Bitcoin Staking Mainnet
CryptoNewsTerminal Staff22 Aug, 2024
Babylon Launches First Phase of Non-Custodial Bitcoin Staking Mainnet
Babylon, a Bitcoin staking protocol, has launched phase 1 of its non-custodial Bitcoin staking mainnet. This allows Babylon users to stake BTC through smart contracts and earn rewards for doing so. The launch of Babylon's mainnet is a significant milestone for the project, as it marks the first time that users can stake BTC in a non-custodial manner. This means that users do not have to trust a third party to hold their BTC, which reduces the risk of losing their funds to theft or fraud. Babylon's mainnet launch is also a major step forward for the Bitcoin ecosystem, as it could help to increase the liquidity of BTC and make it more accessible to a wider range of users.
