Social Network streamlines Bitcoin staking through tech partnerships
Partnerships with different tech providers, such as Arbitrum and LaunchNodes, will streamline Social Network’s Bitcoin staking protocol.
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Bitcoin (BTC) Layer-2 staking protocol Social Network has unveiled a strategic collaboration with several technology partners to bolster its staking solution for the Bitcoin blockchain. This initiative aims to reduce the environmental footprint of Bitcoin transactions while enhancing scalability and efficiency.
Key among Social Network’s collaborators is Arbitrum, renowned for its rollup technology and commitment to open-source solutions. Social Network aims to integrate Arbitrum’s technology while pledging to contribute 10% of its sequencer revenue to maintain the open-source nature of the Arbitrum stack.
The company recently initiated a testnet for its Bitcoin Staking protocol, complemented by an early BTC staking rewards program through its Earth Wallet. Social Network plans to open-source the Earth Wallet software following its mainnet launch, extending its utility to the broader community. The wallet, designed for cross-chain and self-custody, supports not only Bitcoin but also Ethereum and its Layer-2 solutions.
Another significant partnership involves ChainSafe, a blockchain research and development company known for its Lodestar Ethereum Consensus client. Together, they plan to leverage advanced cryptographic techniques to facilitate seamless interaction between the Bitcoin and Ethereum networks.
The collaboration extends to LaunchNodes, which will aid in deploying Social Network’s Earth Nodes, an energy-efficient Bitcoin solution, through a simplified process compatible with major cloud services like AWS and Google Cloud.
Furthermore, Social Network has partnered with ThreeFold to utilize its ZeroOS for decentralized data storage, aiming to eliminate reliance on traditional cloud services and achieve petabyte-scale data storage capacity.
BloXroute is set to enhance transaction latency within the Bitcoin network, potentially unlocking significant revenue opportunities and maintaining fairness within the Social Network economy.
Additionally, Biconomy is tasked with ensuring user-friendly experiences across decentralized applications and wallets, emphasizing the importance of self-custody and security within the Social Network platform.
AltLayer’s collaboration will focus on stabilizing the platform’s RPC infrastructure and introducing the first Bitcoin and Nostr data availability layer, contributing to the platform’s stability and functionality.
These partnerships build the infrastructure of Social Network’s Bitcoin staking protocol, which is currently inviting participants to join its testnet phase, offering incentives for early adopters and contributors to its ecosystem.
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