Bitcoin Security with Babylon
Last updated
Last updated
Note: Thanks to your contributions, cycle I of our TestNet Phase 3 journey has officially wrapped up! Now we're one step closer to onboarding the world to Bitcoin. Stay tuned for the next steps!
After our initial integration with Babylon Euphrates, we have further integrated Babylon Euphrates 0.2!
Compared with the first version, Euphrates 0.2 propagates registry information to consumer systems supporting IBC and CosmWasm smart contracts, enabling more secure and trustless integration with PoS-based systems.
Babylon is an independent middleware enhancing the capability and security of general blockchains based on proof of stakes (PoS). As Babylon finality providers, nodes are allowed to securely deposit their Bitcoins to gain revenues by providing service for other PoS chains.
After our integration, our execution nodes also play the role of finality providers in the Babylon network and they have to stake certain bitcoins to become validators. By leveraging the staking mechanism of Babylon, our Nubit chain is further secured up by the registry and penalty subroutines. It involves the following components.
Chain registry and staking: Our chain is registered in the Babylon network and our validator candidates should stake sufficient Bitcoins to become valid validators.
Finality provider: Our validators will also act as finality providers, relaying chain states to Babylon. This allows instant detection of validator misbehaviors and enables penalization.
Penalization: Since our chain is registered in Babylon, validator candidates would deposit in Babylon as collaterals to become an admissible finality provider and validator. Once deposited, they would be thereby penalized for misbehaviors, say, double voting on different blocks of the same height.
