Babylon Network Introduces Smart Contracts Functionality as v0.7.1 Goes Live

.babylon_chain activates v0.7.1 testnet upgrade with CosmWasm smart contracts and IBC client BabylonChain

Technically, this makes it possible for developers to"extract" security from Bitcoin and protect the designs of their applications. This is the most anticipated upgrade for the Babylon ecosystem since the launch if its testnet.

David Tse, co-founder of Babylon, is excited by the role of this release for the progress of the Babylon ecosystem and all applications that use its solution: The protocol caters to all types of decentralized applications, including decentralized finance apps , NFT marketplaces, exchanges, wallets and so on.Also, recently, the project announced another amazing milestone. Babylon activated its Bitcoin Staking Protocol, designed to enable BTC to be staked and used to secure proof-of-stake blockchains.

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