A new addition to the cryptocurrency landscape, Social Network, has announced the launch of its testnet. The team describes it as “the first decentralized Bitcoin layer 2 staking protocol with native yield.”
The protocol is designed to tackle issues of scalability, cost, and environmental impact associated with the Bitcoin network. Particularly, it focuses on facilitating decentralized social networks built atop Bitcoin (BTC), as communicated to Finbold.
Interestingly, the company has introduced a promotion for early contributors to its testnet. Named ‘Taproot Farmers,’ this incentive offers top participants free minting of Bitcoin Ordinals. Moreover, the Social Network’s platform aims to address the congestion and high fee issues plaguing the Bitcoin network due to the increased demand for storing additional data.
It connects with the Nostr decentralized social networking protocol, claiming to offer a scalable solution for storing large volumes of linked data in a decentrali
We współpracy z: https://finbold.com/social-network-unveils-bitcoin-l2-with-staking-and-yield/
