Bitcoin staking L2 Social Network gears up for scaling revolution with industry partners – TechStartups

Bitcoin Layer-2 staking protocol Social Network is making waves in the industry with its recent announcement of a strategic partnerships aimed at advancing its scaling vision. Set to revolutionize Bitcoin staking while prioritizing environmental sustainability, Social Network is collaborating with a roster of esteemed tech partners to bolster its innovative protocol for the Proof-of-Work blockchain.

In a major development, Social Network has unveiled its testnet for Bitcoin Staking, accompanied by an early testnet BTC staking rewards program through its proprietary wallet, Earth Wallet.

Once Earth Wallet transitions to mainnet, the platform plans to release the software as open-source, ensuring accessibility for all users. Moreover, Earth Wallet supports not only Social Network but also Bitcoin, Ethereum mainnet, and Ethereum Layer-2s, demonstrating its versatility and interoperability.

Among the key tech partners collaborating with Social Network is Arbitrum, recognized for its leadership in L2 Rollups and fully open-source core technology. The partnership involves the use of Arbitrum’s battle-tested layer two roll-up tech stack, with Social Network committing to donating 10% of its sequencer revenue to support keeping the Arbitrum stack open source.

ChainSafe, a prominent blockchain R&D firm and creator of the open-source Ethereum Consensus client Lodestar, is another integral part of Social Network’s partner network. Together, they plan to harness ZK, MPC, and light-client technology to establish connectivity between the Bitcoin and Ethereum blockchains.

Additional tech partners contributing to Social Network’s objectives include LaunchNodes, ThreeFold, BloXroute, Biconomy, and AltLayer. LaunchNodes will assist in developing a user-friendly deployment of the energy-efficient Bitcoin solution, Earth Nodes.

ThreeFold’s autonomous operating system, ZeroOS, will be integrated into Earth Nodes for localized data storage, eliminating reliance on cloud computing providers. BloXroute’s blockchain distribution network ensures optimal latency for the Social Network Bitcoin staking protocol. Biconomy’s SDK focuses on maintaining seamless user experience and security, while AltLayer contributes to the stability of the production-grade RPC infrastructure.

Social Network’s mission is to create an environmentally sustainable staking protocol for Bitcoin and support decentralized social media with the collaboration of these tech partners. The platform is actively inviting testnet bitcoin stakers to join its ecosystem, earning points for the upcoming mainnet launch.

Founded by open-source Bitcoin and Ethereum developers, Social Network is a Bitcoin Layer-2 scaling solution designed to enhance user-friendliness, reduce energy consumption, and provide a stable source of wealth creation. The platform’s testnet was launched in 2024.

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• Source: https://techstartups.com/2024/02/21/bitcoin-staking-l2-social-network-gears-up-for-scaling-revolution-with-industry-partners/