Bitcoin Security is coming to the Juno Smart Contract Network via Babylon
The Babylon integration on Juno is imminent.
Babylon is now live on the Juno test-net.
The collaboration with Babylon, provides the Juno Network with improved transaction security as well as the option of lower un-bonding periods. With Juno’s vision to be the Interchain Incubator for decentralized interoperable applications, Babylon offers Juno Bitcoin-level security that enables it to be one of the most secure interoperable smart contract networks in existence today.
Securing Cross-Chain Smart Contracts
Babylon’s integration enhances Juno’s infrastructure and security, benefiting Juno’s community that uses and creates interoperable applications on the network.
As Juno strives to become a leader in cross-chain smart contracts, it is focused on solving common smart contract L1 bottlenecks such as scalability, security, interoperability and runtime performance. As the Interchain Incubator, Juno is exploring faster block production that increases Transactions Per Second (TPS) that speeds up the development of new application types.
Bitcoin today is the most secure global blockchain. Its mighty PoW mining power provides reliable and irreversible timestamps to Bitcoin transactions. This yields irreversible timestamps and an immutably ordered list of transactions and, thus, an immutable ledger. Babylon brings Bitcoin security to Juno by allowing Juno blocks (and the transactions therein) to be time stamped onto the Bitcoin network.
Furthermore, the Babylon integration preserves Juno’s sovereignty, fast block speed, as well as its high TPS.
Lower Un-bonding Period, Improved Flexibility
Un-bonding periods generally last weeks because they serve as a trust period where users can return to the chain and safely re-synchronize to the chain knowing any attacks that may have occurred while they were away will have already been slashed.
Un-bonding requests on many SDK based networks in the Interchain are set to between 14 and 28 days. Using Bitcoin security via Babylon, users only need to wait until the Bitcoin timestamp of the un-bonding request transaction is confirmed on Bitcoin with sufficient depth (e.g., 100 Bitcoin blocks), which only takes about one day.
The Babylon integration removes the need for a long trust period because once you have Bitcoin timestamps, users can easily discern the normal chain from the attack chain, which will have a later Bitcoin timestamp.
In addition, Babylon makes timekeeping of the unbonding process reliable by using the BTC block time.
Therefore, what the Babylon integration brings to Juno in terms of stake un-bonding is a secure and reliable un-bonding process, regardless of how long or short Juno desires it to be.
Besides secure and reliable un-bonding, the Babylon integration also enables other features for Juno users. For example, Juno users may wait for a BTC confirmation for their high value transactions, the same way you may prefer sending a large sum of capital through wire transfer that takes 3 days despite the option of an instant online transfer. Babylon gives the Juno developers and community the freedom and option to choose the latency-security tradeoff.
Ultimately, Babylon’s integration offers Juno composable and enhanced security, leveraging Bitcoin timestamping to secure transactions that take place on Juno.
About Babylon
Babylon is a blockchain platform that leverages the security of Bitcoin as a source of trust and a reliable timestamping service to enhance the security of Cosmos zones and other Proof-of-Stake chains. Babylon offers a range of protocols, including Bitcoin timestamping protocol, Bitcoin data availability protocols, Bitcoin staking protocols, as well as many use cases, such as fast stake un-bonding, bootstrapping of new zones, protection of transactions, and censorship resistance.
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