P2P.org Unveils Babylon Staking API for Users to Stake Bitcoin

Bitcoin

Author

Sujha Sundararajan

Author

Sujha Sundararajan

About Author

Sujha has been recognised as 🟣 Women In Crypto 2024 🟣 by BeInCrypto for her leadership in crypto journalism.

Author Profile

Share

Copied

Last updated: 

October 2, 2024

Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

P2P.org, a staking services firm and validator for Ethereum, has unveiled the launch of Babylon Staking API for Bitcoin staking. The Babylon staking API allows exchanges, custodians, and wallet users to securely earn rewards on their Bitcoin holdings.

Per the official release sent to Cryptonews.com, the initiative aims to attract both individual stakers and institutional investors.

Babylon’s Bitcoin staking allows BTC holders to participate in the security of Proof-of-Stake (PoS) blockchains while earning yields. The announcement read that the API prevents redirection to a third-party interface, thus enhancing the user experience.

“We are thrilled to introduce the Babylon Staking API, which represents a significant milestone in the world of cryptocurrency staking,” said Alessandro Maci, Senior Product Manager of P2P.org.

“This launch will provide our users with unparalleled opportunities to stake Bitcoin and earn rewards. We believe this will transform the way people engage with Bitcoin staking.”

P2P.org’s Babylon API to Ease Operations on Bitcoin Network

Traditionally, crafting, signing, and broadcasting transactions are more time-consuming on the Bitcoin network than on other blockchains, P2P.org noted. However, it added that the Babylon Staking API would simplify these operations for developers.

Additionally, P2P has created a “public repository for signing Bitcoin transactions.” This will allow developers to manage their BTC transactions securely.

P2P plans to add more features like claiming rewards and a new tool that allows BTC holders to generate multiple BTC staking transactions from a single address.