The Bitcoin security sharing protocol Babylon launches the MVP of the Bitcoin staking protocol

ChainCatcher News, the Bitcoin security sharing protocol Babylon today showcased its Minimum Viable Product (MVP) for the Bitcoin staking protocol at Cosmoverse in Istanbul, Turkey, aimed at leveraging idle Bitcoin to establish economic security for proof-of-stake chains.

According to data from Glassnode, over 66% of Bitcoin circulation (approximately $329 billion) is idle. Earlier this year, the Babylon team released the Bitcoin timestamp protocol, which proof-of-stake (PoS) networks can use to enhance remote security.