Pioneering Bitcoin Staking Layer-2 solution Social Network is set to launch its mainnet, introducing a transformative approach to scaling Bitcoin. The launch, scheduled for April 22nd, promises to enhance the speed, cost efficiency, and energy efficiency of BTC transactions, marking a significant milestone in the leading cryptocurrency’s evolution.
In addition to notable technical advancements, Social Network’s eBTC gas token offers native staking rewards derived from Layer-2 transaction fees. The mainnet launch signifies the beginning of a unique new incentive model for a decentralized economy built on Bitcoin, the largest decentralized monetary system on Earth.
The team contributing to the fair launch of Social Network is inviting participants to engage in a gamified experience reminiscent of Pokémon Go, encouraging users to explore the great outdoors and reconnect with the natural world. This innovative approach is intended to not only promote a fair global distribution but also align with the project’s commitment to aligning technology with healthier incentives for the internet.
They recently completed the launch of 369 Regens on Bitcoin block 9, mined by Satoshi Nakamoto himself in 2009 to ensure the Social Network remains a decentralized, leaderless movement, and ensure the protocol stays aligned with new mission and values. The project will open early access to its global fair launch exclusively to 10,000+ testnet contributors and 369 Bitcoin Regen holders on April 1st, before opening it to the public on April 14th.
“Social Network represents a significant leap forward for Bitcoin, making it more accessible, efficient, and beneficial to the environment,” said Sukhveer Sanghera, Founder and CEO of Earth Wallet and Core Contributor to Social Network. “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.”
Conceived to address the major challenges faced by Bitcoin, particularly those related to scalability, affordability, and environmental impact, Social Network helps the network (and, by extension, its currency) become more viable for everyday transactions. Bitcoin’s energy consumption has been a topic of concern for many years, with critics pointing out that the network consumes more electricity than several countries combined.
The Social Network core team features experienced blockchain developers passionate about fostering a more sustainable and positive Bitcoin ecosystem.
“The gamification aspect of Social Network’s fair launch is a unique and engaging way to encourage people to explore the outdoors and reconnect with nature,” said Elizabeth Tan, contributor to Social Network. “It’s a refreshing approach that aligns with our mission of promoting a more sustainable future.”
Bitcoin has been at the center of the current crypto bull run, largely triggered by the SEC’s approval of eleven spot bitcoin ETFs in January.
The Social Network mainnet launch is not just a technological advancement; it’s a movement towards a healthier, more sustainable, and inclusive digital currency ecosystem.
About Social Network
Social Network is a Bitcoin Layer-2 scaling solution that aims to make the network more user-friendly, less energy-intensive, and a stable source of wealth creation. Bootstrapped by open-source Bitcoin developers, the Social Network testnet launched in 2024.