Bittime - CryptoSlate invited Babylon Chain CEO and founder, David Tse, to the latest episode of SlateCast to talk about the incredible concept of Bitcoin staking and the possibilities of securing Web3. David is joined by Nate Whitehill, CEO of CryptoSlate, as well as Liam "Akiba" Wright, senior editor, to thoroughly discuss this innovative protocol.
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Overlooked Properties of Bitcoin
The conversation began with David highlighting an often overlooked feature of Bitcoin, specifically its role as a global time stamping server. He said, “Bitcoin is a global time stamping server,” as this feature is critical to Babylon Chain's mission. As reported by cryptorank.
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Introducing Babylon Chain and Bitcoin Staking
Akiba then asked about Babylon Chain's special method, which allows Bitcoin holders to securely earn returns by staking their assets without any interference from other parties. David explains the security model that builds the protocol:
“We're starting to think that these proof-of-stake chains all have genuine use cases. So, it doesn't matter whether the chain is useful, the economics are useful, or the application is useful. Have at least one kind of genuine use case. Because Bitcoin is proof of work.Then we started to think that even though the staking market is new and growing, Bitcoin remains the biggest asset. Wouldn't it be great if we could also help with staking?"
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Cosmos Ecosystem and Others
When he talked about Tendermint technology and the Cosmos SDK, as well as the Thesis Chain App, David emphasized that Babylon Chain is focused on the Cosmos ecosystem. The purpose of using Bitcoin staking is to secure multiple chains.
David pointed out an interesting change, saying that the understanding of the proof-of-stake system has led to the emergence of a new ecosystem around Bitcoin. "There's a new ecosystem emerging, one that revolves around Bitcoin itself."
After that, he stated, “We didn't anticipate this two years in advance. We took Bitcoin security because we believe that this proof of stake ecosystem truly improves Bitcoin. However, there is something that is now enabling others to study this ecosystem.”
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The Future of Blockchain Education and Research
Akiba then asked David about current blockchain education and research methods in universities to end the discourse. Additionally, he questions whether it is enough to educate the next generation of entrepreneurs and innovators.
Although he acknowledged that student interest was increasing, especially undergraduate students, David noted little teacher involvement. This shows the conservative nature of academia, as well as the reputation of crypto that has been damaged by certain events.
Conclusion
Babylon Chain talks about its grand goal of enabling Bitcoin staking and leveraging the world's largest cryptocurrency to secure Web3 in an episode of SlateCast with David Tse. Creative companies like Babylon Chain show how important blockchain education and research is for academic institutions.
How To Buy Bitcoin (BTC) With Bittime
You can buy and sell Bitcoin (BTC) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Bitcoin (BTC) is available on Bittime with BTC IDR pairing.
To be able to buy BTC tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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