Bitcoin Staking Layer 2 Network Social Network to Settle on Ethereum

According to BlockBeats, on February 21, Arbitrum officials announced on social media that the Bitcoin staking Layer 2 network Social Network will settle on Ethereum, with 8% of sequencer profits going to ArbitrumDAO and 2% to the Arbitrum Developers Association. Social Network is a Bitcoin staking Layer 2 network supported by Arbitrum, allowing users to stake their Bitcoin on the platform. The network's transaction fees will be reduced to approximately 1 satoshi per byte, finality will be improved to less than one minute, and energy consumption per block will be reduced by 99%. A testnet has already been launched, and the Ordinals Freemint for early contributors is also set to launch soon.