Babylon Genesis launches as first-ever layer-1 secured by Bitcoin

Babylon Labs officially launched Babylon Genesis, the very first blockchain in layer 1 secured by Bitcoin.

Babylon Labs (Baby) just announcement This layer of Babylon Genesis-1. This launch follows the initial deployment of phase 1 in August 2024, which introduced bitcoin (BTC) Cleaming auto-capard contracts. Since the initial launch, the protocol has attracted 49678.65 BTC ($ 4.06b) marked out in auto-us contracts. According to ParadeBabylon is currently ranking second in total value locked among the replenishment protocols, after Gourmet.

With the launch of today, the project enters phase 2. This step includes the full version of the Genesis blockchain, the activation of basic infrastructure such as validator nodes and finality suppliers, and the beginnings of the baby token, which is now available for transfers and transfers and transfers and transfers and transfers and transfers and transfers and transfers and transfers staking.

Eligible users will receive baby tokens with aerial emission directly to their portfolios, and the two transfer and mark out the token are taken care of from the first day. The final phase, phase 3, will introduce additional Bitcoin networks, allowing other blockchains to access the safety and liquidity of BTC jealizing via Babylon Genesis Layer-1.

Babylon offers a unique way to put Bitcoin In that this allows users to lock their BTC in auto-cascard contracts while maintaining the property. Unlike traditional implementation, where assets are given to an intelligent contract or a goalkeeper, the Babylon method guarantees that total control remains with the user. If a participant, like a validator or a supplier of purpose, acts dishonestly, his marked BTC can be “cut” (partially penalized), similar to Evidence Blockchains.

“Bitcoin Ogs really cares about guard [their] own keys, having control [their] own financial decisions, ”said Spencer Yang, co-founder of Fractal Bitcoin, in a interview.

The blockchain is secured by validators who mark tokens and finality suppliers for assessments of balance sheets who mark the BTC for additional security.

For the future, a major characteristic to seek is a minimized bridge between confidence between Bitcoin and Genesis, called Bitvm2. This will allow BTC to circulate in the Babylon ecosystem without relying on multisig configurations, using strike and cryptographic techniques to apply behavior without confidence.