Your proposal of a decentralized system addressing the escalating transaction costs for Bitcoin transactions is intriguing. Leveraging recent upgrades in Bitcoin Taproot and Ethereum, along with the utilization of Layer Two Rollups for zero-knowledge proofs, seems like a promising approach to reduce the burden on the Bitcoin blockchain. This could potentially lead to faster, more affordable, and less energy-intensive transactions.
The integration of Nostr compliant event signatures for storing off-chain data linked to on-chain transactions also appears to be a thoughtful solution to minimize the challenges faced by regular Bitcoin node operators. It's encouraging to see the application of proven cryptographic techniques and audited smart contracts to ensure proper behavior and protect against abuse.
The collaborative effort involving Bitcoin, Ethereum, and Nostr to revolutionize the cryptocurrency ecosystem towards scalability, affordability, and resistance to congestion is ambitious. If successful, it could indeed pave the way for decentralized social networks on Bitcoin, contributing to a more united and scalable crypto environment. It will be interesting to see how these proposed solutions evolve and potentially shape the future of decentralized systems.