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Bitcoin Staking Takes Off Enabling BTC Holders to Earn Across Multiple Blockchains

Bitcoin Staking Takes Off Enabling BTC Holders to Earn Across Multiple Blockchains

BTC holders can now stake their coins on-chain with the release of Babylon. The Babylon Mainnet allows investors to leverage other Proof-of-Stake networks while using their native BTC. Users can delegate their vote to a "finality provider", or operate their own node. The introduction of Bitcoin staking adds yet another layer of functionality to the blockchain once renowned for its lack of flexibility. Ten years ago, if you told someone that staking would be coming to Bitcoin, they'd probably look at you strangely and ask "What's Bitcoin?" But those days are gone – every person and their dog knows what BTC is, and the blockchain has expanded from a rigid network into a flexible ecosystem with decentralised applications, earning opportunities and even NFTs. Now, "native" staking is coming to Bitcoin, allowing holders to lock up their BTC on-chain and yield passive income. Related: Market Reset: Jason Pizzino Predicts Potential Bitcoin Bounce Amid Extreme Fear Self-Custodial Bitcoin Staking Has Arrived As most know, Bitcoin utilises a consensus mechanism called "Proof-of-Work" aka mining. And typically, to "stake" tokens and earn profits, the blockchain must use an alternative consensus method called "Proof-of-Stake". However, the innovative project Babylon, founded by David Tse and Fisher Yu, has a unique workaround to allow BTC holders to stake their coins.

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