I have been looking into @BabylonLabs_io after last live on Binance Square and this is what is worth to know now...
How to get my BTC to work for me, BUT not losing what I find the most important part, my keys.
This is what they call self custodial Bitcoin staking.
Staking $BTC without moving anywhere.
How?
You lock it on Bitcoin itself, in a transaction you sign, and that transaction carries the rules for how it can ever be opened again.
There are only three ways it opens.
- The time you picked runs out, and you unlock it with your own key.
- You decide to leave early, and you wait out a short window, around a week, before you can take it.
- The validator you backed gets caught signing two contradicting blocks, and part of your stake gets burned.
That is it. No company sitting there with a master key, because there is no master key to have.
are you staking your BTC or are you happy enouth holding it?
How to get my BTC to work for me, BUT not losing what I find the most important part, my keys.
This is what they call self custodial Bitcoin staking.
Staking $BTC without moving anywhere.
How?
You lock it on Bitcoin itself, in a transaction you sign, and that transaction carries the rules for how it can ever be opened again.
There are only three ways it opens.
- The time you picked runs out, and you unlock it with your own key.
- You decide to leave early, and you wait out a short window, around a week, before you can take it.
- The validator you backed gets caught signing two contradicting blocks, and part of your stake gets burned.
That is it. No company sitting there with a master key, because there is no master key to have.
are you staking your BTC or are you happy enouth holding it?