Ethereum

Cosmos

Near

Solana

Bitcoin

Service

But unfortunately, the world's first cryptocurrency serves as passive storage with very limited functionality. 

The Bitcoin blockchain does not see events happening outside. So in order to have utility outside the network, BTC essentially has to be deposited with a third party. 

What does a standard BTC bridge process look like?

If the user wants to exchange his wBTC back to 

, the process will happen in reverse order: the 

 will be burned and the corresponding amount of 

There is one BUT in this process - the user is forced to hand over his BTCs to a third party for "storage". This is the reason why most of the bitcoins are idle. 

Babylon's innovation provides bitcoin holders with a new way to earn additional PoS chain revenue in a secure and decentralized manner.

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 staking protocol. Thanks to it, users will be able to decentralize their assets in the Bitcoin network, and use them in blockchains based on the 

 consensus mechanism, receiving income for it.

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 in a decentralized manner and choose which 

 blockchain to stack and profit from. The protocol is modular and can protect the BTC liquidity of any PoS chain. It also provides scalable restacking for bitcoin holders. In two funding rounds, the project 

Polychain Capital, Polygon Ventures, OKX Ventures.

 on their Twitter account to invest in this project!

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, you can find a guide to installing a node in the test network of the Babylon project!

## New perspectives on the use of Bitcoin!

The current market capitalization of **Bitcoin** is **$1.33 trillion.**
But unfortunately, the world's first cryptocurrency serves as passive storage with very limited functionality. 

The Bitcoin blockchain does not see events happening outside. So in order to have utility outside the network, BTC essentially has to be deposited with a third party. 

## What does a standard BTC bridge process look like?

1. The user sends a certain amount of BTC to a kind of digital vault (custodial) that allows the creation of wrapped tokens on another blockchain.

2.  After confirming the deposit made, the corresponding amount of wBTC is sent to their user on the destination network. These coins can now be used on the Ethereum network like any other ERC-20 token.

If the user wants to exchange his wBTC back to BTC, the process will happen in reverse order: the wBTC will be burned and the corresponding amount of BTC will be returned to the user.

There is one BUT in this process - the user is forced to hand over his BTCs to a third party for "storage". This is the reason why most of the bitcoins are idle. 


## What solution does the [Babylon](https://babylonchain.io/) project offer?

Babylon's innovation provides bitcoin holders with a new way to earn additional PoS chain revenue in a secure and decentralized manner.

![babylon.jpg](https://api.cryptolayer.io/uploads/babylon_7424e3ffab.jpg)

The project is a BTC staking protocol. Thanks to it, users will be able to decentralize their assets in the Bitcoin network, and use them in blockchains based on the **Proo-of-Stake (POS)** consensus mechanism, receiving income for it.

![Beb.jpg](https://api.cryptolayer.io/uploads/Beb_7b0cf4a32d.jpg)

Bitcoin holders can securely lock their BTC in a decentralized manner and choose which PoS blockchain to stack and profit from. 

The protocol is modular and can protect the BTC liquidity of any PoS chain. It also provides scalable restacking for bitcoin holders.

In two funding rounds, the project [raised](https://cryptorank.io/ico/babylon-chain) **26 million $** from tier 1 funds - **Polychain Capital, Polygon Ventures, OKX Ventures**

Also recently, the **Binance Labs** fund [announced](https://twitter.com/BinanceLabs/status/1762478051500175692) on their Twitter account to invest in this project!

![Binance babylon.jpg](https://api.cryptolayer.io/uploads/Binance_babylon_3b52b03937.jpg)

In our telegram [channel](https://t.me/d5Lab_Airdrops), you can find a guide to installing a node in the test network of the Babylon project!

The current market capitalization of Bitcoin is $1.33 trillion. But unfortunately, the world's first cryptocurrency serves as passive storage with very limited functionality. 

Drag

The Bitcoin blockchain does not see events happening outside. So in order to have utility outside the network, BTC essentially has to be deposited with a third party. 



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babylon_chain

The Babylon project provides bitcoin holders with a new way to earn additional PoS chain revenue in a secure and decentralized manner.

Babylon Protocol - new perspectives on Bitcoin!

 is an extensible blockchain network that enables developers to build modular decentralized applications with advanced smart contracting capabilities. The 

 team has come up with an approach that significantly optimizes complex on-chain operations. This greatly expands the use of blockchain in situations where increased security and control over the execution of on-chain logic is required.

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 architecture consists of three main layers:

 6 millions of dollars from funds such as:

The project is now in the Artela Incentivized Public Testnet phase. You can read more about this testnet phase in 

 on running the validator in the Artela test network. Once the validator is up, be sure to fill out the 

The Artela Network is an extensible blockchain network that enables developers to build modular decentralized applications with advanced smart contracting capabilities. The Artela team has come up with an approach that significantly optimizes complex on-chain operations. This greatly expands the use of blockchain in situations where increased security and control over the execution of on-chain logic is required.

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Artela Network is an extensible blockchain network that allows developers to create modular decentralized applications with advanced smart contracting capabilities.

Artela network

 is a decentralized social protocol based on Optimism.

 $180 million from major funds such as a16zcrypto, Coinbase Ventures, and Multicoin Capital. In addition to top funds, the project has prominent active users, including 

Essentially, it is a social network 3.0 where you won't have your account blocked. Since the protocol is based on blockchain technologies, users have full control over their data, audience, and the content they share. Importantly, data is not stored centrally but through a hub system that provides the appropriate level of information security without overloading the main network.

Before installing the Farcaster node, we need to complete a few actions:

2. Register an account on Warpcast (a client for working with the Farcaster protocol

To install Farcaster Bubble, we rented a server on the 

 platform. You can pay for services on this platform using either Russian rubles or cryptocurrency. For running the node, a server like the one shown in the screenshot below will be suitable:

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To register an account on Warpact, go to the website and complete the standard registration process.

Important: Account activation will cost the user $5.

After creating an account, go to the Profile tab > click on ... > about > copy the FID and save it in a text file.

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Our Farcaster Bubble will interact with the Ethereum and Optimism blockchains, so we need to create API keys for these networks.

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Select the required networks (Ethereum and Optimism) and save the settings.

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After that, go to the Active Endpoints tab, copy the API keys, and save them in a text file.

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Update the information about available packages and then install all available updates for the installed packages.

After installation, check that the cron service is running:

Install the "screen" package (allows you to run multiple terminal sessions in one window and switch between them).

Install the "npm" package (for installing and managing libraries and tools needed for working with JavaScript).

curl -sSL https://download.thehubble.xyz/bootstrap.sh | bash

Important: During the installation, the script will remind you that the node installation will not be rewarded. You need to agree and enter the word "yes."

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Aptos Network also warned that it does not plan to distribute rewards to those who launched nodes in the test network. However, in the end, they still distributed $1,500 to everyone who filled out the validator form.

Wait for the script to complete and then enter the following configuration data in order (which we saved in the text file during the initial steps):

Farcaster is a social network 3.0 where you won’t have your account blocked. The project is built on blockchain technologies, giving users full control over their data, audience, and the content they share.

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Farcaster is a decentralized social protocol based on Optimism. The project has raised $180 million in investments from top investors!