BOB L2 Taps Babylon To Secure Transactions with Bitcoin As Anchor Chain

Quick Summary:

BOB (Build on Bitcoin), a hybrid layer two (L2) network, has advanced its mission to position Bitcoin at the center of decentralized finance (DeFi) by integrating with Babylon, a Bitcoin staking protocol.

This collaboration enables BOB to secure transactions using Bitcoin as its anchor chain, providing a level of finality and irreversibility unique to the Bitcoin network.

Babylon, recognized as the leading Bitcoin staking protocol, manages a total value locked (TVL) of approximately $6 billion.

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Article Details

Author / Journalist: Kelvin Munene Murithi

Category: Crypto

Markets: India

Topics: 24/7 Cryptocurrency News Bitcoin staking Bitcoin Bitcoin News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-18 @ 22:58:15 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 532 words

Reading Time: 3 minutes read

Sentences: 34 lines

Sentence Length: 16 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 24541531

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

Update Frequency: 46 posts per day

Year Established: 2017

Headquarters: India

News Last Updated: 14 hours ago

Coverage Areas: India

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Publisher ID: #59

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