Coinspeaker
Unveiling Social Network: Bitcoin’s New Eco-Friendly Staking Solution
Following a successful testnet phase, Social Network, a newly introduced Bitcoin staking Layer-2 solution is reportedly launching its mainnet on April 22. The network, created in collaboration with Earth Wallet, aims to help Bitcoin become more scalable by increasing the speed, cost efficiency, and energy efficiency of its transactions.
What Social Network Represents
Notably, Bitcoin and its Proof-of-Work (PoW) consensus has long been a subject of scrutiny for its excessive energy usage by environmentalists. This is where Social Network steps in, attempting to rewrite the narrative with an Ethereum Virtual Machine (EVM) and an NFT-based mobile scavenger hunt linked to its mainnet launch.
It is important to mention that the Social Network is not a social networking platform like Facebook, Instagram, or X, but rather a solution to receive staking rewards. The eBTC token, which is utilized for
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