Square Crypto is a Bitcoin-focused division of Square, a payment company created by Twitter founder Jack Dorsey, and Lightning Network is a way to improve Bitcoin payments.
At the Advancing Bitcoin conference in London today, Wallace emphasized that LDK-a set of lightning network tools for developers-addresses three key issues and has two major advantages.
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(Lightning web developer Valentine Wallace)
Large-scale compatibility and privacy, three major problems solved by LDK
Compatible with wallet
"This is a wallet-compatible deployment," Wallace said, adding that LDK does not come with a wallet but can connect to a wallet that users are already using.
She said that in general, companies using Bitcoin will have their own wallet configuration.
"If the Lightning Network is introduced, you may need to change the configuration."
But by using the company's existing wallet, the problems should be reduced.
2. Compatible with blockchain
Wallace also said that companies adopting this LDK can continue to use existing infrastructure, including their own blockchain. Therefore, there should be less annoyance when introducing a new Lightning Network layer. "This is your own chain," Wallace said. "It works as you expected."
3. Make your own backup
"This is your own backup," Wallace said. LDK does nothing for developers. Instead, they need to create their own backups. Wallace said that LDK offers developers the opportunity to create backups, but does not do backups for them.
The benefit of this is that developers can ensure their backups are secure and configure backups to their needs.
"If you use Lightning Network to restore old backups, you run the risk of losing your money. Usually, this is a sensitive area. It is difficult to manage. You have to make sure you get it right."
Personal customization and deep control, two advantages of Lightning Network Toolkit
Wallace emphasized two advantages of using LDK. First, developers can create custom routes on the Lightning Network. This is the path where payments are transferred from the computer that made the transaction to the computer that received the transaction.
Although most people may be willing to use arbitrary routing, developers may want to choose a specific, more private route.
"You may want a privacy-optimized routing algorithm. This path may cost you more, but you will choose a more private path."
Secondly, she pointed out that developers can exercise more detailed control over the Lightning Network through LDK. For example, when you open a Lightning Network channel (a way to make payments through the Lightning Network) on your mobile device, you no longer need to wait until the Bitcoin network confirms the transaction.
Instead, "you have the option to confirm a transaction before confirming it on-chain," Wallace said. "You have more control over the Lightning Network."
Taking the computer as an example, Wallace said that with Lightning Network, it is equivalent to buying an off-the-shelf personal computer. But using Square Crypto's SDK is like having a custom computer.
"You can make all decisions inside the machine."
Wallace also mentioned Square Crypto's future development plans in the Bitcoin space. She said the team wanted to encourage more interaction between more programming languages and LDK.
"No matter what code you run, you can interact with LDK-no matter what your existing infrastructure is. I think this will be a very important feature."