Cosmos ecological project Babylon is now testing online

It is reported that Babylon, a project aimed at bringing the security of Bitcoin to the Cosmos ecosystem, is now testing the network line, and will launch the second test network this summer before launching the main network at the end of the year. The working principle of Babylon is to act as the intermediary between the chain requiring additional security and Bitcoin, obtain block headers from the chain using its services, and write these block headers into the Bitcoin blockchain. The verifier who runs Babylon gets paid by using the native token of Babylon’s chain, and will also get paid by the native token of Babylon.

Interpretation of this information:

Babylon is a project designed to enhance the security of the Cosmos ecosystem by bringing in the security features of Bitcoin. The project is currently testing its network line, with plans to launch its second test network in the summer and its main network by the end of the year. The project operates by acting as an intermediary between chains in need of additional security and Bitcoin. Babylon obtains block headers from the former and writes them into the Bitcoin blockchain. Verifiers can earn payment through Babylon’s native token, as well as through the native token of the chain it is serving.

The message indicates that Babylon is a project aimed at improving the security of the Cosmos ecosystem through the integration of Bitcoin’s security features. Currently, the project is testing its network line, with plans to launch the second test network this summer before launching the main network later in the year. This suggests that Babylon is in its early stages of development and still needs to prove its effectiveness.

The working principle of Babylon is to act as an intermediary between the chain requiring additional security and Bitcoin, obtaining block headers from the chain through its services, and then writing these block headers into the Bitcoin blockchain. The approach suggests that the project is leveraging Bitcoin’s security capabilities to provide greater robustness to chains that may require it. This function may be particularly helpful in addressing security vulnerabilities in chains that work with sensitive data or financial information.

Finally, verifiers running Babylon get paid by both the native token of Babylon’s chain, in addition to getting paid through Babylon’s native token. This payment model provides incentives to individuals who use Babylon, which could lead to increased verification and data integrity in chains that require additional security. The business model, therefore, seems to be designed to encourage participation and provide rewards, which could result in higher adoption rates.