- Bitcoin protocol Babylon will complete is second staking round at around 18:30 UTC (2:30 p.m. ET) on Tuesday.
- The staking round is “duration-based,” meaning it will be last for 10 Bitcoin blocks, lasting around one hour and 40 minutes, assuming an average block time of 10 minutes.
As a seasoned analyst with a penchant for following the evolution of Bitcoin and its associated ecosystem, I find myself intrigued by the upcoming staking round of Babylon. Having observed the rapid growth and maturity of this protocol since its inception, it’s fascinating to see it venture into new territory yet again.In August, the Bitcoin protocol known as Babylon concluded a staking phase limited to 1,000 BTC (equivalent to approximately $62.4 million), and it is set to reopen for operations starting Tuesday with a fresh “time-based” round.
The round, known as “Cap-2,” will kick off at some time around 18:30 UTC (2:30 p.m. ET).
As a crypto investor, I can look forward to staking up to 500 BTC per transaction over the course of 10 Bitcoin blocks, starting from block 864,790 and ending at block 864,799. This feature will become available approximately one hour and 40 minutes after the network reaches that point, assuming an average block time of 10 minutes.
In my analysis, I observed an impressive response during the initial Bitcoin staking round in August. It swiftly reached its maximum limit of 1,000 BTC within merely six blocks, indicating a strong demand for Bitcoin staking, and potentially attracting significant attention from Cap-2 participants.
Babylon intends to facilitate proof-of-stake blockchains in borrowing capital from the substantial Bitcoins reserves.
Among numerous strategies, there’s one focused on integrating practical use for Bitcoin – a feature typically prevalent in networks like Ethereum, but traditionally less present in the original blockchain.
In May of this year, the project made quite an impression as it successfully closed a $70 million investment round, which was preceded by a $18 million round in December of the previous year.
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2024-10-08 19:42