Website

Babylon

Last updated: Feb 25, 2023

Babylon is a VC-backed blockchain project founded by Shannon Award and Hamming Medal recipient, Professor David Tse from Stanford University. The project’s mission is to bring Bitcoin’s unparalleled security to all PoS blockchains without any extra energy cost.

Seed Round: $1.5 Million

First Round of Funding: $6.2 Million

IMPORTANT: By investing in this business you agree to ourDisclaimer. All information including our rating, is provided merely for informational purposes. CryptoTotem does not provide investment advice.

Overview

Project industry	Blockchain Infrastructure
Product type	Technology
Whitepaper	Open

What is Babylon

Babylon: Bringing Bitcoin security to Cosmos and beyond.

The goal of Babylon is to checkpoint Cosmos consumer zones into Bitcoin, which functions as a secure timestamping service. At a high level, this checkpointing is performed in three steps:

Consumer zones send checkpoints to Babylon
Babylon sends checkpoints to Bitcoin
Consumer zones read checkpoints from Bitcoin

Babylon reduces the unbonding period of PoS chains from weeks to a few hours by enabling these chains to use Bitcoin as a timestamping service, akin to the role of social consensus. As checkpointing PoS blocks on Bitcoin directly is unfeasible due to lack of space within Bitcoin blocks, Babylon as a separate PoS chain aggregates the checkpoints sent by the PoS chains and posts them to Bitcoin on their behalf. Babylon architecture prevents long range attacks through its k-deep withdrawal rule for unbonding validators, and guarantees slashing of the adversarial stake in the event of short-range safety attacks.