Web3 publishing infrastructure LikeCoin can now add Bitcoin timestamps to its PoS chain with Babylon integration
Web3’s principles around ownership have spoken to creators who are empowered by the ability to directly publish and monetize their digital work in a decentralized environment, although so far the focus of NFTs have mostly revolved around visual art.
Babylon is proud to announce its testnet integration with LikeCoin, an application-specific blockchain built on Cosmos SDK to democratize publishing by allowing anyone to publish their writing. LikeCoin’s mission is to provide everyone with affordable, transparent and efficient censorship-resistant publishing service through its suite of open tools, thus enabling writers to own and monetize their content. LikeCoin also offers a Web3 bookstore for writers to sell their articles and blogs as Writing NFTs. Turning stories into collectibles.
Securing Decentralized Registry
This collaboration allows Babylon to apply Bitcoin timestamping technology to LikeCoin’s PoS chain, further securing its decentralized registry and storage of published content.
In traditional publishing, writers often work with a publisher who serves as a middleman that prints, publishes and sells the content physically and digitally. With LikeCoin, anyone’s work can be registered through a decentralized registry powered by the International Standard Content Number (ISCN), a specification borrowed from the concept of ISBN for books that serves as a unique digital identifier for content.
Authorship in web3 may not always be tied to the writer’s public identity or verified by a central publisher. Because of this, security is crucial for the democratization of publishing. The digital ID not only helps to identify a specific digital content, but also records the content’s metadata, license terms, the intellectual property rights, and the author’s footprint of the creation.
The ISCN data on-chain directly records the relationships between the content and creator, serving as the property right layer of LikeCoin. Babylon’s added security ensures that the ISCN stored on LikeCoin will be immutable, thus guaranteeing accuracy of ownership as well.
Leveraging Bitcoin Timestamps on PoS Chain
LikeCoin enables writers to publish their work by minting them as NFTs and also sell their work in a marketplace. Babylon secures activities that take place on the LikeCoin chain by using Bitcoin as a timestamping service to record important transactions. As Bitcoin’s block time is longer than a PoS chain, LikeCoin users may want to reserve this for more high value or significant transactions.
Babylon is able to leverage Bitcoin’s timestamping technology and make it a scalable solution because it aggregates checkpoints sent by multiple PoS chains as transaction data to accommodate the limited space on each Bitcoin block, and posts them as a single checkpoint stream to Bitcoin on their behalf.
LikeCoin stores all natively-created content in two layers, property right layer (ISCN) and NFT layer, which provides proof of ownership and the mechanism of transfer between purchasers and creators. Babylon’s technology secures both layers as it provides the Likecoin chain with added protection against long range attacks and guarantees slashing of the adversarial stake in the event of short-range safety attacks.
Babylon’s integration with LikeCoin provides creators, and specifically writers, with additional layers of trust and security in the decentralization of publishing and ownership over their content.
