Babylon is a VC-backed blockchain project founded by Shannon Award and Hamming Medal recipient, Professor David Tse from Stanford University. Our team consists of world-class researchers and developers, as well as seasonsed business advisors. The project’s mission is to bring Bitcoin’s unparalleled security to all PoS blockchains without any extra energy cost. Babylon is a new public PoW blockchain which merge-mines with Bitcoin and thus does not demand any extra engery. It secures the PoS world by providing a reliable data-available timestamping service.
The blockchain universe is bifurcated into Bitcoin and many newer and emerging chains based on Proof-of-Stake. Bitcoin is the most secure blockchain in the world, supported by the immense hash power of its Proof-of-Work miners, but consumes immense energy. Proof-ofStake chains are energy-efficient, but face several fundamental security issues: bootstrapping new PoS chains from low token valuation, susceptibility to long-range attacks, and unslashable transaction censorship and stalling attacks. Babylon is a blockchain platform which at net-zero energy reuses the immense Bitcoin hash power to simultaneously enhance the security of many PoS chains. Babylon provides a data-available timestamping service, securing PoS chains by allowing them to timestamp data-available checkpoints, fraud proofs, censored transactions and stalling evidence on the Babylon chain. We illustrate how Babylon can be implemented on top of Cosmos SDK to provide Bitcoin security to autonomous application-specific Cosmos zones. Because Babylon is secured by Bitcoin miners, the timestamps Babylon provides are reliable.