Babylon project designs security protocols that scale Bitcoin to secure the decentralized world. To this end, Babylon utilizes the three primary facets of Bitcoin: Bitcoin the asset, Bitcoin the reliable timestamping server, and Bitcoin the blockchain that contains the most censorship-resistant blockspace in the world. Through inventing pioneering protocols, Babylon envisions a more secure and decentralized future.
We build the Babylon blockchain to realize the vision. It is a proof-of-stake (PoS) blockchain that consists of two innovative security-sharing protocols between Bitcoin and other PoS blockchains:
- Bitcoin timestamping: This protocol sends succinct and verifiable timestamps of PoS blockchains to Bitcoin; and
- Bitcoin staking: Using Bitcoin timestamping as a building block, this protocol allows Bitcoin holders to stake their Bitcoin to PoS blockchains.
The following figure provides the high-level architecture of the Babylon system. The two protocols enable enormous security-related use cases for the decentralized world. One primary use case is to bring BTC security to PoS chains.