Babylon Bitcoin staking function has been launched

According to PANews on April 12, Babylon tweeted that the Bitcoin staking function has been launched. Bitcoin can be staked for the first time, providing proof of stake (PoS) security to Babylon Genesis and receiving stake rewards in return. To ensure security, only 1000 Bitcoin registrations from Phase 1 Cap-1 are currently allowed. After a 24-hour buffering and testing period, Bitcoin staking was officially activated at 18:04:03 (UTC+8) on April 11 at 27600 in Babylon Genesis block height.

Previous news , the Layer 1 blockchain Babylon Genesis, which is collateralized by Bitcoin, has been officially launched. It is reported that this is the second phase of Babylon's launch of the Bitcoin staking protocol.