On January 8, 2025, at 9 AM UTC, Babylon will commence its Phase-2 test network, referred to as bbn-test-5. This phase introduces thrilling advancements, such as a revamped staking application for the web, which is being used to trial fresh features within the Babylon Proof-of-Stake blockchain.
The purpose of the testnet is to enhance cooperation and unity among crucial network contributors, while also boosting interoperability. In the Babylon Phase-2 testnet, we’ve combined both Proof-of-Stake (PoS) stakes from Bitcoin and Signet Bitcoin stakes, with a primary focus on assisting developers, stakeholders, and participants alike.
Users can sign up for their Phase-1 shares and discover enhanced features through our updated staking application, set to launch at 10 AM UTC on January 8. This testnet additionally enables the deployment of smart contracts without permission, offering a valuable chance for stakeholders, programmers, and wallets to work together.
Keeping this in mind, these tokens utilized for testing lack real-world worth and are only simulations. Furthermore, it’s worth mentioning that Babylon collaborates with BOB to boost Bitcoin’s liquidity within DeFi, all while preserving the integrity of Bitcoin’s blockchain.
To take part in this process, users are provided with access to testnet dispensers that hand out Signet Bitcoins and tBABY tokens. These dispensers will empower users to establish fresh stakes and transfer Phase-1 stakes over to Phase-2. The staking application additionally offers swift unbonding options, typically within a timeframe of 16 to 17 hours.
In a fresh update, Binance is set to launch On-platform BTC Staking through Babylon, allowing users to deposit their BTC for staking and receive returns directly within the platform.
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2025-01-07 10:28