A new layer-2 staking network called Social Network is set to revolutionize the landscape of cryptocurrency.
Developed in partnership with Earth Wallet, a platform for Bitcoin and Ethereum self-custody, Social Network aims to utilize an Ethereum Virtual Machine (EVM) and an NFT-based mobile scavenger hunt to transform Bitcoin transactions, reduce costs, and enhance energy efficiency.
Scheduled for launch on April 22, Social Network represents a departure from traditional social networks like Facebook or Twitter, focusing instead on creating a decentralized social network incentive system.
What did the CEO of Earth Wallet say?
According to Sukhveer Sanghera, CEO of Earth Wallet and Core Contributor to Social Network, the project seeks to make social networks a public good again, prioritizing societal benefits over corporate profits.
Social Network represents a significant leap forward for Bitcoin, making it more accessible, efficient, and beneficial to the environment. We are excited to invite early adopters to join us on this journey to unlock Bitcoin as a utility for Earth scale regeneration, and experience the benefits firsthand.
While Bitcoin enthusiasts may be enticed by the opportunity to own digital collectibles through Social Network’s NFT-based scavenger hunt, the project’s primary goal remains to promote social and environmental well-being.
By incentivizing users to participate in outdoor activities, such as the scavenger hunt, Social Network aims to foster a deeper connection with nature while enhancing the efficiency and sustainability of Bitcoin transactions.
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