Now that the brand new Bitcoin (BTC) staking testnet is live, Social Network is proud to share the list of its first cohort of partners. The advanced Web3 teams will work together to merge the benefits of the proof-of-work (PoW) and DeFi segments.
Social Network partners with Arbitrum, Biconomy, AltLayer and more: See the full list
Social Network, a unique BTC staking provider, has 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 proven layer-2 rollup tech stack, it has also committed to donating 10% of its sequencer revenue to keep the Arbitrum stack open source.
After recently launching its Bitcoin staking testnet, Social Network has also launched an early testnet BTC staking rewards program through its internal wallet, Earth Wallet.
After deploying Earth Wallet on Mainnet, the Social Network team plans to open source the software, making it available to everyone. In addition to social network support, the cross-chain, self-custodial wallet supports Bitcoin, the Ethereum mainnet and Ethereum L2s
Also active in the L2 field and integrated into Social Network’s partner network is the leading blockchain R&D company ChainSafe, creator of open-source Ethereum Consensus client Lodestar. The collaboration partners plan to combine their expertise to use ZK, MPC and light-client technology to connect the Bitcoin and Ethereum blockchains.
In addition, Social Network will use Ethereum deployment infrastructure provider LaunchNodes to develop a one-click deployment of its energy-efficient Bitcoin solution, Earth Nodes.
Building an eco-friendly BTC staking mechanism
Social Network’s Earth Nodes will also integrate ThreeFold’s ZeroOS autonomous operating system to store data in a localized manner for 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 the field of Account Abstraction will have to ensure that the principles of self-control and security are adhered to on Social Network.
As a result, the teams are going to promote the atmosphere of BTC staking according to modern decentralization and cost efficiency standards.