Jamie Crawley is a CoinDesk news reporter based in London.
The project is being supported by over 200"finality providers," who will approve transactions to maintain the network's protocol's operation, similar to the role of validators in proof-of-stake ecosystems.
Staking refers to process of crypto holders offering their tokens to a network in order to finance its ongoing operation with the expectation of getting rewards in return, similar to putting money in a savings account to acquire interest. This system is fundamental to most blockchains, but Bitcoin is not one of them, therefore staking is largely absent from the world's largest cryptocurrency network.
Babylon is attempting to address this difference in the coming months, which will add greater utility to Bitcoin. The project is being supported by over 200"finality providers," who will approve transactions to maintain the network's protocol's operation, similar to the role of validators in proof-of-stake ecosystems.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
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