GuShiio.com The launch of the Babylon Genesis public chain is the real chapter of Babylon.
Recently, Babylon launched airdrop query and registration, which gave great expectations to the Bitcoin ecosystem and community, and also announced the end of Babylon Ecosystem Phase 1 ‘s vigorous pledge mining campaign. However, if you really understand the technical principles of Babylon, you will know that pledge BTC is just Chapter1 in the main chain, and the launch of the Babylon Genesis public chain is the real chapter of Babylon. Come, let’s follow a simple science:
Babylon’s biggest value innovation is that by constructing complex UTXO script contracts on the Bitcoin main network, BTC can realize asset lockdown in a secure and trusteeship free manner. That is to say, users ‘BTC can be locked in a self-managed form. On the Bitcoin main network, while at the same time having interests in Staking mining proceeds on other Pos chains?
The question arises. It is just that if you lock up a position on the main Bitcoin network, how can it be applied to other Pos chains, become an effective locked asset and provide security consensus guarantee for the POS chain? The answer lies in the chain of Babylon Genesis.
The Babylon Genesis Chain (BSN) is a Pos chain built based on the Cosmos SDK. When Babylon locks BTC on the main network through cryptographic algorithms, it is equivalent to a remote secure pledge system. However, to realize remote dispatch and management of assets, the system also requires a chain with “programmable capabilities” to build consensus. The Genesis Chain is a unified verification layer and interoperable layer that helps the Babylon protocol realize the ability of the main network’s BTC assets to be transformed into security consensus of other Pos chains.
Through the orderly coordination of the Genesis chain (brain center), Babylon can allow Bitcoin’s main online locked BTC (vault) to generate actual use cases on other POS chains and then generate revenue (revenue source). At the same time, it can also follow Eigenlayer’s example to package this security consensus capability into a commodity and provide it to more Bitcoin second-level POS chains to expand the source of revenue and the imagination of business combinations.
Only by sorting out this logic can we understand that the real value of the Babylon protocol is not how many assets are locked on the main network, because most assets are still user-managed, and Babylon’s cryptographic algorithm can only be regarded as a “security steward”. It just shares some asset management rights and requires the cooperation of the Genesis chain to realize its value. However, the step of locking assets does not fully leverage the Babylon protocol’s “security-as-a-service” capabilities.
Therefore, to truly unlock Babylon’s Pow to Pos and help BTC Holder realize its great commercial vision of native revenue, strictly speaking, it depends on the performance of the Genesis chain after it is launched. Babylon ecosystem liquidity pledge service providers such as Solv Protocol, Lombard, PumpBTC, BedRock, etc., if their liquidity supply adopts a 1:1 mapping on the BTC main network, naturally rely on the operation of the Genesis chain to provide them with unified secure accounting management and larger business model expansion.
