Thread by @Flowslikeosmo

1/ A Match Made in Crypto Heaven: Bitcoin Security meets Appchain Sovereignty.

Leveraging IBC and #Bitcoin Security to solve the blockchain trilemma through @babylon_chain

🧵👇

2/ The current security landscape has placed Bitcoin and Ethereum as the largest sources of security.

#BTC 14+ year track record and a $400M Marketcap and $ETH with their POS network.

3/ This has created additional challenges for $ETH and its ability to scale while remaining interoperable.

Giving birth to the growth we've seen with rollups such as @arbitrum & @optimismFND

Ethereum is exploding with new ideas, however the issue lies with interoperability.

4/ Are there other ecosystems that satisfy scalability and interoperability?

Yes. Cosmos!

5/ Cosmos Appchains automatically scale through the ecosystem architecture and are:

- Interoperable via IBC
- Sovereign

So what is #Cosmos missing? Security!

6/ Along comes @babylon_chain attempting to solve the blockchain trilemma of security, scalability, and decentralization.

- Babylon is essentially "marrying" Cosmos and Bitcoin using a technology called timestamping

But what’s so special about #Bitcoin?

7/ #Bitcoin is Proof of Work, in an ecosystem full of PoS chains offering diversity.

- This means it can protect Proof-of-stake chains like Osmosis from long range attacks.

Additionally, it is the Largest asset in crypto (+400b) with the longest track record of security.

8/ @babylon_chain offers the ability to checkpoint multiple chains at once and submit them as one, creating a small footprint on Bitcoin.

- This alleviates concerns around inefficient clogging down of the network.

Think of this as a "time-stamp as a service" for POS chains.

9/ Currently the @babylon_chain Testnetis live with 8 different chains in the Cosmos and more to come.

- With @osmosiszone as first time-stamped to Babylon, and through Babylon to #Bitcoin

So what are some benefits users can expect from this union of technologies?

10/ Benefits 🔥

- Faster Unbonding times (21 days ➡ 15 hours)⤵
- Increased liquidity
- Lower Native Cost of security ( more on this)

11/ The @osmosiszone spent $50M to secure the chain for which 2.5M went to validators.

@babylon_chain integration introduces Bitcoin security which solves:
-Long-Range attacks
-Double-spending

Invalid Execution attacks can be solved via ZK or Fraud proofs.

12/ This leaves Liveness Attack which #Bitcoin cannot solve, however the vectors of attacks are significantly reduced.

Hence the cost to maintain chain security are significantly lowered.

13/ The road ahead for @babylon_chain

- Aligning economic incentives of $BTC miners with the chain they provide security for example, staking on @osmosiszone
-Adoption of other appchain-type ecosystems beyond Cosmos.

14/ Babylon is leveraging #BTC economic security and the interoperability and scalability IBC bring.

The Cosmos can expect more efficient, secure and censorship resistant chains in the future.