Square Crypto Announces Lightning Network LDK Plan, Will Bitcoin Become Stronger?

On January 22, Babbitt, Square Crypto, a cryptocurrency project sponsored by payment company Square, announced today its first product plan: a "Lightning Network Development Kit" (LDK), designed to help developers integrate Lightning Network Integrated into their Bitcoin wallet app.

ldk

In a blog post, Square Crypto mentioned:

"To make Bitcoin a widely used global currency, a currency that cannot be blocked, tampered with, or manipulated, it is necessary to improve Bitcoin's user experience, security, privacy, and scalability."

It is reported that the new product includes an API (based on the Rust-Lightning project), language bindings, demo applications, and other projects that will make Lightning Network integration "simple, secure, and configurable."

Square Crypto noted that the toolkit is still under construction and no release schedule is currently provided, but added:

"Without these features, today's Lightning Network infrastructure is incomplete."

Square Crypto explained that the company considered several projects and finally decided to launch a project focusing on the integration of Lightning Web Wallet based on the needs of developers:

"We talked to dozens of wallet developers and what we heard was their desire for the flexibility of integrating the Lightning Network. Wallets and applications require different key storage and backup mechanisms, security methods, user experience trade-offs, and more . This means that the solution is to build more wallets, not fewer. "

4

In response, Jack Dorsey, the boss of Square and Twitter, commented:

"Square Crypto is focusing on the Lightning Network!"

In fact, this is not the first time that Square has shown the Lightning Network. As early as last September, two of the three team members hired by the company had development experience related to Lightning Network.

In December last year, Square Crypto said he would also provide funding for a part-time Lightning Web developer to support his work.

What do you think?

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

On the line in March, the daily trading volume broke through 100 million, and the FTX exchange that turned out to be so hot is so hot?

The huge potential of the derivatives market is beyond doubt. Mark Lamb, CEO of CoinFLEX, recently predicted that by ...

Blockchain

Sun Yuchen used capital hegemony to control Steem, causing controversy, the integrity of stolen users' voting rights was questioned

Recently, in order to prevent capital power on the chain, Steem witness nodes jointly launched a soft fork. God V des...

Blockchain

What are the chances of decentralized exchanges completely replacing Binance and Coinbase?

This article will compare three common centralized trading features and contrast them with their decentralized coun...

Blockchain

A picture proves that there are a large number of cleaning transactions on the exchange

In order to more accurately depict trading activity, the "Real 10" indicator only considers the volume of t...

Blockchain

The first in the industry! US cryptocurrency exchange INX seeks IPO listing

The cryptocurrency exchange attempted to raise funds through IPOs rather than ICOs, and INX was the first. On August ...

Blockchain

Look at IEO, the dilemma of markets, exchanges, project parties and investors

"IEO's projects are flying, do you want to follow?" Wei Dong entered the currency circle for more than...