CandleFocus Bitcoin Protocol Babylon Hours Away From Opening 'Duration-Based' Staking Round
2024-10-08
Author: Content Editor
The Babylon Bitcoin protocol is completing its second staking round, known as "Cap-2," which allows users to stake up to 500 BTC per transaction over 10 Bitcoin blocks. This staking round is duration-based and is expected to last around one hour and 40 minutes. Babylon aims to allow proof-of-stake chains to acquire capital from Bitcoin reserves and is one of many initiatives aimed at introducing utility to Bitcoin. The first staking round in August reached its cap of 1,000 BTC within six blocks, demonstrating the demand for bitcoin staking.
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