The world’s largest crypto exchange platform by trading volume is adding support for a new Bitcoin (BTC) staking protocol.
In a new announcement, Binance says it will be adding the BTC staking project Babylon (BABY) to its massive suite of digital asset products.
Babylon, which launched Babylon Genesis today, rose in value after gaining support from Binance.
BABY went from a daily low of $0.084 to a peak of $0.099 just a few hours later. It has since retraced and is trading for $0.087 at time of writing, a 4.6% gain during the last 24 hours.
According to the project’s official litepaper, the protocol is designed to fix latency, security and programmability issues associated with BTC, something layer-2 projects have struggled with in the past.
“Bitcoin is the first and still the top blockchain in terms of market capitalization. However, beyond a store of value, its utility has been limited by its small blockspace,…
