Top Highlights

• The Bitcoin staking protocol Babylon pulled in roughly 23,000 BTC on Tuesday during its second staking round—a much larger sum than the first wave, and a much smoother experience for network users since Bitcoin fees did not surge this time around.
• Babylon co-founder and Stanford University professor David Tse, who helped launch the staking startup’s mainnet six weeks ago, told Decrypt that the round dubbed Cap-2 went “pretty well.”
• Babylon has been constructing a two-sided marketplace rooted in Bitcoin’s reserves. On one side, users will be able to lock up their Bitcoin in exchange for rewards one day, while proof-of-stake networks can leverage that capital to provide security on the other.
• Limiting the amount of Bitcoin staked to 1,000 BTC, the median cost per Bitcoin transaction costs skyrocketed to $132 during the first staking round. This time around, the median cost per Bitcoin transaction only rose as high as $2.37, skirting a network-wide headache for Bitcoin users.
• During Tuesday’s 10-block window beginning at 864790, users could stake an unlimited amount of Bitcoin, while being limited to 500 BTC per transaction.

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