Bitcoin Secured Networks – Leveraging Bitcoin Security for New Chains

Brady

Protocol Marketing Manager

Published

December 6, 2024

Introduction

Bitcoin’s economic security and decentralization have long been confined to its native blockchain. Now, through Babylon’s innovative Bitcoin staking protocol, this security can be extended to other networks through Bitcoin Secured Networks (BSNs), creating new opportunities for both Bitcoin holders and proof-of-stake chains.

What are Bitcoin Secured Networks (BSNs)?

BSNs are protocols that utilize Babylon’s Bitcoin staking protocol to secure their operations using Bitcoin’s robust economic security. This approach allows networks to leverage Bitcoin’s security without requiring users to wrap or bridge their BTC, maintaining true self-custody while participating in network security.

Benefits and Opportunities of BSNs

BSNs offer several key advantages for new chains:

• Enhanced security through Bitcoin’s established consensus
• Access to Bitcoin’s extensive holder base and liquidity
• Reduced reliance on native token inflation for security
• Direct connection to the Bitcoin ecosystem without wrapped assets
• Support for multiple blockchain frameworks including Cosmos SDK and popular rollup stacks

Corn: The First BSN

Through Corn’s partnership with Babylon, Corn is becoming one of the first Bitcoin Secured Networks (BSNs), allowing users to earn Babylon points by committing Bitcoin-based LSTs on the platform.

With over $500 million in committed LSTs, Corn aims to make Bitcoin more capital-efficient by tapping into unused Bitcoin liquidity while leveraging Bitcoin’s security through the Babylon protocol. Their new Baby Corn Program offers users enhanced earning opportunities through various liquidity options, with up to 3x multipliers for participating in different staking strategies.

Stake Bitcoin with Figment

Figment brings unmatched expertise as a Day 1 Babylon mainnet validator and experienced finality provider, offering institutional-grade security with non-custodial options. Our comprehensive staking infrastructure, built specifically for asset managers, exchanges, and large token holders, provides seamless access to Bitcoin scaling solutions including Babylon, Stacks, and CoreDAO.

Babylon’s Future Plans for BSNs

Babylon is actively expanding the BSN ecosystem through strategic investments in projects utilizing Cosmos SDK or popular rollup stacks. Their commitment to fostering BSN adoption includes support for early-stage projects and continuous protocol development to enhance the Bitcoin staking experience.

Conclusion

BSNs represent a significant evolution in blockchain security models, bridging Bitcoin’s established security with innovative proof-of-stake networks. For institutions looking to participate in this emerging ecosystem, Figment offers the infrastructure and expertise needed to stake Bitcoin securely and efficiently.

Ready to explore Bitcoin staking on Babylon? Contact Figment today to connect with one of our staking specialists.