Summary
TLDR: Social Network, a new Bitcoin layer-2 staking network, aims to reduce energy consumption and make Bitcoin transactions more efficient. Users can earn staking rewards through a mobile scavenger hunt tied to the mainnet launch. The project focuses on creating a new decentralized social network incentive system and promoting a fair global distribution. Despite some pushback from Bitcoin maximalists, the project aims to align technology with healthier incentives for the internet and create a more socially beneficial network.
Key Points
1. Social Network is a new Bitcoin layer-2 staking network that aims to enhance Bitcoin transactions, lower costs, make the network more energy efficient, and get crypto users out of the house and into nature.
2. The project involves a mobile scavenger hunt tied to its mainnet launch, where users can participate by going to a park, touching grass, and catching region-specific NFT characters using the Earth Wallet app.
3. Social Network utilizes the eBTC token for staking rewards, with a focus on creating a socially beneficial decentralized social network incentive system to make social networks a public good and less about making private companies a lot of money.