Mind Network will leverage Bitcoin LRTs (Liquid Restaking Tokens), issued to represent native bitcoins staked through Babylon, to secure Mind Network’s subnets via FHE validation.

Babylon introduces a novel concept that leverages the immense idle unencumbered Bitcoin capital, which is currently valued at approximately $1.2T. Their newly developed protocol allows Bitcoin holders to “stake” their idle assets to enhance the security of PoS chains while earning yields without the need to bridge these assets directly to the PoS chains. This is achieved through a mechanism that ensures full slashable security guarantees, thereby integrating the liquidity and immense value of Bitcoin with the flexibility and efficiency of PoS systems.

Partnership Highlights:

Mind Network’s integration with Babylon’s restaking solution enhances its establishment in Fully Homomorphic Encryption (FHE), crucial for ‘remote staking,’ enabling secure and transparent participation in PoS validation without compromising private keys.

FHE secures computational processes on encrypted data, maintaining trustlessness and decentralization in the staking process, in alignment with blockchain principles. It removes the limitation of decrypting before computing, heralding a new era in end-to-end cryptography.

This collaboration addresses validation challenges, preventing influence from other nodes and data leakage, particularly benefiting AI, DePin, and Web3 projects. Babylon’s fast stake unbonding and modular design maximize liquidity, scalability, and compatibility across PoS networks, revolutionizing blockchain security and interoperability.

About Mind Network

Mind Network is the first FHE Restaking Layer for PoS and AI Networks. Their framework operates as an FHE validation network, bringing secure computation and consensus to Decentralized AI, DePIN, EigenLayer AVS, Bittensor Subnet, and many critical PoS networks. Mind Network’s solution enables verifiable decentralized computation over encrypted data.

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About Babylon

Babylon project designs security protocols that scale Bitcoin to secure the decentralized world. To this end, Babylon utilizes the three primary facets of Bitcoin: bitcoin the asset, Bitcoin the PoW-secured timestamping server, and Bitcoin the most censorship-resistant blockspace in the world. Through inventing pioneering protocols, Babylon envisions a more secure and Bitcoin-centric decentralized world.

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SOURCE: MIND NETWORK BLOG

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The integration brings an additional layer of Bitcoin security to Injective, providing users with even greater confidence in the safety of their transactions. Additionally, Injective’s decision to become a testnet validator for the Babylon chain demonstrates their commitment to enhancing the security of the broader blockchain ecosystem.

“Babylon is pioneering a new paradigm within Web3 by enabling blockchains such as Injective to integrate Bitcoin’s security parameters. This heightens not only security but also cryptographic mechanism design as a whole,” said Injective Labs co-founder and CEO, Eric Chen.

“We are pleased to announce our integration with Injective, providing users with Bitcoin-grade security and fast stake unbonding. Together, we’re raising the bar for a secure and robust DeFi ecosystem. This integration serves as a starting point for future exploration and collaboration with Injective,” announced David Tse, Babylon’s Co-founder.

A Step Towards a More Robust and Secure DeFi Ecosystem

Babylon’s innovative approach also allows for PoS chains to significantly reduce their secure stake unbonding time from weeks to as little as a few hours. This advanced security measure enables safer high-value asset transfers across bridges between PoS chains. By incorporating Babylon’s capabilities into Injective, tokens and assets traded on the platform are fortified against double-spend attacks and other security threats, promoting an environment of trust and confidence.

Moreover, Babylon’s state-of-the-art architecture can be incredibly advantageous for upcoming DeFi projects on Injective, as it provides a high level of security, even in the face of low token valuations. Additionally, Babylon can serve as a backup solution, ensuring that transactions on Injective are not censored and entered into the ledger.

The integration also expands Babylon’s technology to a cutting edge PoS network. Injective currently is the fastest Cosmos zone, boasting a block time of just 1 second. A number of prominent dApps such as Astroport have also migrated over to Injective in recent weeks, adding further momentum to the network. Babylon can now begin to offer its technologies across a wide swath of dApps building on Injective. As Babylon migrates from testnet, these offerings can begin to be employed by the Injective mainnet as well.

The incorporation of Babylon’s security features provides an added layer of protection and reliability to Injective. Making it a more appealing option for developers and users alike. By strengthening the platform’s security and dependability, Injective becomes a more robust and trusted platform for building exchanges, DeFi, derivatives, and Web3 apps.

About Injective

Injective is a lightning fast interoperable layer one blockchain optimized for building the premier Web3 finance applications. Injective provides developers with powerful plug-and-play modules for creating unmatched dApps. INJ is the native deflationary scarce asset that powers Injective and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by prominent investors such as Jump Crypto, Pantera and Mark Cuban.

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About Babylon

Babylon, a blockchain protocol built on the Cosmos SDK. Aims to leverage the security of Bitcoin to enhance the security of Cosmos zones and also other Proof-of-Stake chains. The project is developed by a team of consensus protocol researchers from Stanford. And also experienced layer 1 developers from around the world.

At its core, Babylon is designed to use Bitcoin as a source of trust and a reliable timestamping service. To benefit other blockchains in the broader ecosystem. By using Bitcoin’s immense hash power and reliable timestamping capabilities. Babylon can significantly enhance the security of smaller blockchains, without compromising their autonomy.

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For this INO, Babylon will be listing 800 Eizper Chain NFTs. Each NFT will be worth approximately $120. Buyers should have their Solana wallet addresses ready, its required for purchase process: buyers should provide their wallet for being able to buy these NFTs.

Please watch the video for all details about Eizper Chain INO and Eizper Chain NFTs: https://www.youtube.com/watch?v=u5bPJTW9FrY

Babylon would like to remind everyone that the BABI Weekly Reward Mechanism is in place — they distribute up to 227,500 BABI at the end of each week to their community members. The amount of BABI a user gets is proportional to their weekly trade volume. Read more about their reward system here.

Make sure to follow all of their socials to be updated always with latest news!

About Babylons

Babylons is the ultimate GameFi destination, pioneer launchpad, blockchain tooling provider and NFT platform with its 100+ gaming partners and a young and active following of gamefi enthusiasts. For its gaming partners, Babylons offers INO hosting, IDO hosting and secondary sales services tailored to their exact needs. Babylons has a vibrant gaming community that is eager to participate in new gaming project private, public token offerings & IDOs; while the platform aims to democratize this process with its innovative mechanisms.

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About Eizper Chain

Eizper Chain gameplay contains synergy between adventure and arena battle. In adventure part players roam the fast world of Eizper guided enticing epic story full of twist and turn. While in arena battle part, players may compete against each other in battle event in hope to get handsome rewards and recognition.

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📰 INFO

https://blog.babylons.io/eizper-chain-ino-on-april-29-8f9896752155

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