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Babylon Phase 2 Testnet Launches Tomorrow with Advanced Staking Options
The highly anticipated testnet launch of Babylon Phase 2 is finally here! Starting tomorrow, the network will begin its new phase, which will bring numerous advancements and improvements to the staking process. The testnet will be a crucial step towards the mainnet’s development, as it allows validators and finality providers to start registering, paving the way for a smoother transition into the next phase.
As of 10 AM UTC tomorrow, users will be able to register their Phase 1 stakes into the new Babylon Phase 2 chain through the newly enabled staking web app. The original staking app will remain active until 8:30 AM UTC, providing users with a final opportunity to monitor their previous stakes before making the switch.
Babylon’s testnet is focused on ensuring a seamless integration of existing Signet Bitcoin and Babylon stakes, while also validating the operational stability of the network in an environment where validators, finality providers, and decentralized app (dApp) developers can experiment with new blockchain solutions. This phase will give developers the chance to explore innovative concepts within the network, utilizing CosmWasm for smart contract experimentation.
The testnet’s primary goal is to guarantee a secure and permissionless environment for testing liquid staking and re-staking protocols, significantly enhancing blockchain security by allowing the community to test new technologies.
Babylon invites all participants, including Signet Bitcoin stakers and dApp developers, to join this innovative process. The network will continue evolving and improving its infrastructure to provide a more robust experience.
It is essential to note that the tokens used in this testnet are only test tokens and do not come with any real incentives for participants. This ensures the experiment remains within a controlled environment, free from external factors.
For those interested in exploring new possibilities within the network, be sure to tune into tomorrow’s launch, as it brings a vast array of staking options and innovative blockchain technologies to the table.
Source: crypto-economy.com
