September 17, 2024

Unlocking 21 Million BTC to secure the DeFi Economy

31 minutes

Bitcoin is back. It could be attributed to the increasing prices, Bitcoin ordinals or the development of Layer 2 initiatives on the most secure blockchain ever. In today’s episode, Ian Andrews (CMO, Chainalysis) speaks with Stanford Professor and Co-founder of BabylonChain, Davide Tse, to explore how Bitcoin can be used to secure proof of stake networks without the use of bridges.

The episode kicks off with an introduction to BabylonChain, a protocol designed to leverage Bitcoin for securing proof of stake networks using Bitcoin's native time lock feature and cryptographic methods to ensure both security and incentivization of honest behavior by stakers.

David discusses his early days collaborating with Vitalik Buterin to identify vulnerabilities in Ethereum’s move to proof of stake and highlights the renewed interest in Bitcoin, powered by recent ETF approvals and L2 projects.

Minute-by-minute episode breakdown

2 | Why Bitcoin is the perfect asset to secure Proof of Stake blockchains

4 | David Tse’s past life focused on wireless infrastructure to figuring out how to scale Bitcoin

6 | Collaborating with Vitalik Buterin to transition Ethereum to a Proof of Stake protocol

8 | Integrating Bitcoin with Proof of Stake without bridging

13 | What is Babylon Chain and how does it work

18 | The renewed interest in Bitcoin due to Bitcoin ETF approvals and Bitcoin L2 projects

22 | The collaboration with Nubit, the first Bitcoin-native data availability layer

24 | How Babylon Chain can go from testnet to mainnet

26 | What assets are staking rewards paid in?

28 | Bitcoin is Back and the innovation that will be built on top of it

Related resources

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

Website: BabylonChain: Unlocking 21 Million Bitcoin to Secure the Decentralised Economy

Blog: What is Bitcoin Staking?

Article: Forbes: How Bitcoin Usage Could Skyrocket Thanks To Zero-Knowledge Proofs

Article: Blockworks: Yes, staking actually should be regulated

Blog: Zero-Knowledge Rollups and Optimistic Rollups: An Overview

Report: The 2024 Global Adoption Index: Central & Southern Asia and Oceania (CSAO) Region Leads the World in Terms of Global Cryptocurrency Adoption

YouTube: Chainalysis YouTube page

Twitter: Chainalysis Twitter: Building trust in blockchain

Telegram: Chainalysis on Telegram

Speakers on today’s episode

Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)

David Tse (Co-Founder, BabylonChain)

This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein.

Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.

Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.

Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.

...more