Stanford Univesity professor David Tse explains how Bitcoin can be used to improve security of proof-of-stake blockchain protocols.
smart contract blockchain protocols thanks to efforts from a Stanford University professor.
In an interview with Cointelegraph, Tse outlined how Babylon uses the Bitcoin scripting language to connect a PoS-based slashing mechanism to the Bitcoin network. This allows for the creation of smart contracts that are able to set specific spending conditions: Tse said that Babylon’s BTC staking protocol enables BTC to be used to secure its network without having to alter or fork the Bitcoin protocol. This also allows BTC holders the ability to earn rewards for contributing to the security of PoS network’s by staking their BTC.
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