As its brand new testnet for Bitcoin (BTC) staking is live, Social Network proudly shares the list of the first cohort of partners. The cutting-edge Web3 teams will work together merging the benefits of the proof-of-work (PoW) and DeFi segments.
Social Network teams up with Arbitrum, Biconomy, AltLayer and more: See full list
Social Network, a one-of-a-kind BTC staking provider, announced the first generation of its long-term partners. The list includes Arbitrum, a dominant Ethereum L2. While Social Network has joined forces with Arbitrum for its battle-tested layer-2 rollup tech stack, it has also committed to donating 10% of its sequencer revenue to help keep the Arbitrum stack open source.
Having recently launched its testnet for Bitcoin staking, Social Network has also launched an early testnet BTC staking rewards program via its in-house wallet, Earth Wallet.
Following the deployment of Earth Wallet on mainnet, the Social Network team intends to open-source the software, making it available to all. In addition to supporting Social Network, the cross-chain, self-custody wallet supports Bitcoin, the Ethereum mainnet and Ethereum L2s
Also operating in the L2 field and integrated into Social Network’s partner network is leading blockchain R&D firm ChainSafe, creator of open-source Ethereum Consensus client Lodestar. The collaborators intend to pool their expertise to employ ZK, MPC and light-client technology to connect the Bitcoin and Ethereum blockchains.
Besides that, Social Network is set to leverage the Ethereum staking infrastructure provider LaunchNodes to develop 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 integrate ThreeFold’s autonomous operating system, ZeroOS, to store data localized to the end user – eliminating dependence on cloud computing providers.
The partnership between Social Network and blockchain distribution network BloXroute will ensure optimal latency, making MEV on Bitcoin “a powerhouse with the potential to unlock billions of dollars in revenue and ensure the Social Network economy remains fair.”
Biconomy’s specialists in Account Abstraction will be tasked with ensuring principles of self-custody and security are upheld on Social Network.
As a result, the teams are going to advance the sphere of BTC staking following modern decentralization and cost-efficiency standards.