New Bridge to Cosmos Chains Launched by Babylon Labs to Enhance Bitcoin's ZK Tech
Babylon Labs partners with Bitcoin developers to create a trust-minimized bridge that enhances Bitcoin interoperability with Cosmos.
Overview
Babylon Labs is enhancing the interoperability of Bitcoin, the world’s oldest blockchain, through a trust-minimized bridge to the Cosmos network. In collaboration with Bitcoin developers Fiamma, they are employing the BitVM2 computing paradigm to facilitate Ethereum-style smart contracts on Bitcoin, thereby utilizing zero-knowledge technology.
Key Details:
- Babylon Labs' initiative aims to improve cross-chain functionality by allowing faster and more efficient transactions.
- This project targets unlocking substantial value stored within Bitcoin to fuel other blockchain ecosystems.
Barnylon's BTC staking protocol, renowned for securing decentralized applications, is linked to a total value locked (TVL) approximating $5.5 billion.
The innovative BitVM2 enhances Bitcoin's programmability and enables secure, rapid transactions whilst maintaining security integrity. This new technology prepares the groundwork for transferring Bitcoin across various networks. Digital asset bridging, supported by tools like zero-knowledge rollups, is fast gaining traction, laying the foundation for more versatile and efficient blockchain ecosystems.
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