Thu, April 25

Bitcoin L2 Staking Platform, Social Network, Reveals Strategic Partners for Scaling Initiatives

Io.Net and Allora Collaborate to Boost and Secure AI Development Blockchain News

The first-ever Bitcoin Layer-2 staking protocol, Social Network, has unveiled a list of technology partners and highlighted their respective contributions as it develops an eco-friendly staking protocol for the Proof-of-Work blockchain.

Social Network has started an early testnet Bitcoin staking incentives program using its in-house wallet, Earth Wallet, in addition to its recent testnet launch for Bitcoin staking. The Social Network team plans to release Earth Wallet as open-source software so that everyone may use it when it goes live on the mainnet. The cross-chain, self-custody wallet supports Ethereum Layer-2s, the Ethereum mainnet, and Bitcoin in addition to Social Network.

One of Social Network’s technological partners is Arbitrum, a pioneer in L2 Rollups and well-known for its completely open-source core technology. In addition to partnering with Arbitrum to use its robust layer two rollup tech stack, Social Network has pledged to contribute 10% of their sequencer revenue toward maintaining the open source nature of the Arbitrum stack.

Leading blockchain R&D company ChainSafe, the developer 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 want to combine their knowledge to use ZK, MPC, and light-client technologies to link the Ethereum and Bitcoin blockchains.

Other technology partners that have been verified as aiding Social Network in accomplishing its objectives are:

LaunchNodes:

Earth Nodes, Social Network’s energy-efficient Bitcoin solution, will be able to be deployed with only one click thanks to the Ethereum staking infrastructure provider. Additionally, LaunchNodes will ensure simple node deployment throughout the globe using all major cloud services, such as AWS, Google Cloud, and other Bare Metal service providers.

ThreeFold:

Additionally, ThreeFold’s autonomous operating system, ZeroOS, will be integrated into Social Network’s Earth Nodes to store data locally for users, doing away with the need for cloud computing providers. Earth Nodes will be able to achieve petabyte-level data storage on a worldwide scale with the help of ThreeFold.

BloXroute:

MEV on Bitcoin will become “a powerhouse with the potential to unlock billions of dollars in revenue and ensure the Social Network economy remains fair” thanks to the collaboration between Social Network and blockchain distribution network BloXroute, which will guarantee optimum latency. Social Network refers to bloXroute as the central component of their Bitcoin staking protocol.

Biconomy:

Seamless UX on dApps, wallets, and appchains is made possible by Biconomy’s SDK. The transaction infrastructure platform, experts in account abstraction, has been entrusted with guaranteeing that security and self-custody norms are adhered to on Social Network.

AltLayer:

AltLayer, a decentralized protocol, will assist Social Network in making sure that its production-grade RPC infrastructure is robust and that it can provide the first Bitcoin/Nostr data availability layer on Earth. It supports the introduction of native and restaked rollups using both optimistic and ZK rollup stacks.

Social Network is working to enable decentralized social media and develop an ecologically friendly Bitcoin staking protocol with the help of the above listed tech partners. In order to participate in the ecosystem and accrue points for the mainnet, the platform is now welcoming testnet bitcoin stakers.

A devoted content writer having 3 years of crypto trading experience. Loves cooking and swimming. Stays up to date with the latest developments on blockchain technology.