Greening Bitcoin with Social Network

Bitcoin’s energy consumption has been a contentious issue, drawing criticism for its significant environmental impact. Enter Social Network, a novel layer-2 staking network designed to revolutionize Bitcoin’s footprint through an Ethereum Virtual Machine (EVM) integration and an innovative NFT-based mobile scavenger hunt. This initiative not only aims to reduce energy usage but also to engage users in environmentally friendly activities.

Social Network, developed in collaboration with Earth Wallet, is set to enhance Bitcoin transactions by making them more cost-effective and energy-efficient. Launching on April 22, the project seeks to reconnect crypto enthusiasts with nature, encouraging them to explore their local parks through a gamified experience reminiscent of Pokémon Go.

The initiative is driven by a desire to transform social networks into a public good, moving away from the profit-centric models of today’s social media giants. According to Earth Wallet CEO Sukhveer Sanghera, the essence of Social Network is about contributing to a decentralized social network incentive system, aiming to make social interactions more beneficial to society.

At the core of Social Network’s functionality is the “touch grass” feature, which leverages augmented reality (AR) to immerse users in a digital treasure hunt for unique NFT characters, dubbed Regens. These characters are distributed based on local population density and energy consumption, fostering a fair and environmentally conscious approach to digital collectible acquisition.

Fueling this innovative platform is the eBTC token, which rewards users for their engagement and participation in the network’s layer-2 transactions. This mechanism not only incentivizes the adoption of greener crypto practices but also ensures that the benefits of blockchain technology are accessible to a wider audience.

The project has garnered attention for its alignment with Bitcoin’s original ethos, as evidenced by the launch of 369 Regens on the historically significant Bitcoin block 9, mined by Satoshi Nakamoto. This deliberate choice underscores Social Network’s commitment to maintaining a decentralized, leaderless structure that stays true to its mission and values.

Despite potential resistance from Bitcoin maximalists, especially regarding the use of an Ethereum-based solution, Sanghera remains optimistic. He believes that a broad-minded approach to solving societal issues with blockchain technology can unite the community around a common goal: making Bitcoin an inclusive and environmentally friendly global monetary system.

Social Network represents a pioneering effort to address the environmental concerns associated with Bitcoin while fostering a more inclusive and socially beneficial use of blockchain technology. By marrying the principles of cryptocurrency with environmental stewardship, the initiative aims to pave the way for a more sustainable future in digital finance, demonstrating that innovation and ecological responsibility can go hand in hand.