As its brand-new testnet for Bitcoin (BTC) staking is live, Social Network proudly announces the first batch of partners. The cutting-edge Web3 teams will collaborate to combine the benefits of the Proof-of-Work (PoW) and DeFi parts.
Social Network teams up with Arbitrum, Biconomy, AltLayer and more: See full list
Social Network, a one-of-a-kind Bitcoin staking service, has announced its first generation of long-term partners. The list contains Arbitrum, the leading Ethereum L2. While Social Network has collaborated with Arbitrum on its battle-tested layer-2 rollup tech stack, the company has also pledged to donate 10% of their sequencer income to help maintain the Arbitrum stack open source.
After recently launching its testnet for Bitcoin staking, Social Network has now established an early testnet BTC staking incentives programme through its in-house wallet, Earth Wallet.
Following the implementation of Earth Wallet on mainnet, the Social Network team plans to open-source the programme, making it available to everyone. In addition to supporting Social Network, the cross-chain, self-custody wallet supports Bitcoin, the Ethereum mainnet, and Ethereum L2.
Leading blockchain R&D business ChainSafe, provider of open-source Ethereum Consensus client Lodestar, is also active in the L2 space and has been included into Social Network’s partner network. The partners plan to combine their knowledge and use ZK, MPC, and light-client technologies to connect the Bitcoin and Ethereum blockchains.
Aside from that, Social Network plans to use the Ethereum staking infrastructure provider LaunchNodes to provide a one-click deployment of its energy-efficient Bitcoin solution, Earth Nodes.
Building environmental-friendly BTC staking mechanism
Social Network’s Earth Nodes will also use ThreeFold’s autonomous operating system, ZeroOS, to store data close to the end user, reducing reliance on cloud computing providers.
The collaboration between Social Network and blockchain distribution network BloXroute will ensure optimum latency, transforming MEV on Bitcoin into “a powerhouse with the potential to unlock billions of dollars in revenue and ensure the Social Network economy remains fair.”
Biconomy’s Account Abstraction specialists will be in charge of ensuring that the ideals of self-custody and security are respected on social networks.
As a consequence, the teams want to enhance BTC staking in accordance with current decentralisation and cost-efficiency requirements.
