Earth Wallet is excited to share the completion of a fundamental scalability solution to the Bitcoin network!
At Earth Wallet, our mission has always been to bring crypto back to Earth. For over a decade, this industry has been about going to the moon and beyond, which has led to more of the same type of systems that led to the creation of Bitcoin in the first place. We wanted to change that.
What if we created a new system, for planet Earth. One that used the power of decentralized technologies to create systems of peace, prosperity, and progress, in a way that made our home the best place in the Universe.
For most people in the world, Bitcoin remains a complicated, scary, volatile, and energy wasting piece of technology that has no value beyond casino games and ponzi schemes. So for the past year, we helped bootstrap a new initiative and Bitcoin Layer 2 scalling solution, Social Network. This new scaling solution, aims to make Bitcoin more user friendly, a stable source of wealth creation, 99% less energy intensive, and positive for the environment. You can read the full whitepaper here: https://bitcointalk.org/index.php?topic=5482476.
In this new release of Earth Wallet, we've added support for the Social Network Testnet. With it, you can try out for yourself the future of clean, fast, and cheap Bitcoin transactions, by staking your testnet Bitcoin (BTC) for testnet Social Network Bitcoin (HEART). We're beyond excited to share more about this in the future, but the first phase is battle testing some of the new infrastructure which powers this innovation. Behind the scenes, quite a bit went into making this work, and it would have been irresponsible to try and capture the bullish narrative before hardening the security. No matter how normalized rushing new crypto protocols to market has become, Earth Wallet made a push for the fundamentals, and ensured the release of Social Network was done with security as the first priority.
We have tremendous respect for the Ordinals ecosystem, so much so that top contributors to the Social Network testnet will recieve an exclusive Ordinal, called the Taproot Farmers as a freemint. However, after a year of being one of the first wallets and only independently audited wallet to support Bitcoin Ordinals, we remain concerned with some risks the Ordinals ecosystem poses to the Bitcoin network in general. New protocols are being created quite recklessly, increasing load on Bitcoin nodes and skyrocketing transaction fees are disregarded as a non-issue, while marketing teams and 'Bitcoin KOL/influencers' tout poorly written specs which do not help end user adoption or create simpler, more secure Bitcoin protocols for end users.
The Bitcoin Social Network solves this by moving media off Bitcoin network, into the Nostr protocol, and seamlessly integrating the two through Bitcoin Staking. This has the potential to enable orders of magnitude more people to actually experience the ethos of what Ordinals represents. Expanding the use case of Bitcoin to large scale decentralized media and information systems. This is no easy understaking, but luckily Nostr provides a simple and functional solution for how this can be achieved, and is already seeing widespread adoption.
As such, Earth Wallet Social Network accounts will also include an integrated Nostr key which is used for all blockchain RPC connections, decentralized apps connection requests, and more features to be rolled out with the Social Network. Unlike Etheruem, which relies on centralized RPC nodes, this new Nostr connect feature will facilitate the growth and adoption of truly decentralized social networks, satisfying the demand for unique digital assets while maintaining the Bitcoin network’s performance and cost-effectiveness.
Don't miss the chance to help us battle test the Social Network Testnet, top contributors will be eligible for an exclusive Taproot Farmer freemint, which gains them extra points for the Earth airdrop at Social Network Mainnet. We look forward to breaking barriers preventing the Bitcoin ecosystem from seeing the same level of innovation as Ethereum and other blockchains, and unlock the potential of Decentralized Social Networks on Bitcoin.
Be sure to follow @SocialNetworkL2 for all updates on how to get involved!