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

Policy

Jurors buckle up as Sam Bankman-Fried's criminal trial takes off with riveting jury directions

SBF faces seven charges of financial fraud in connection with FTX's downfall in November.

Opinion

a16z evaluates the regulation of Web3 in the United States The regulatory situation is much more optimistic

This article analyzes and rates cases involving Coinbase, Uniswap, ZeroEx, OPYN, and Deridex, and finds that the regu...

Bitcoin

Restoring the entire process of asset transfer: $6.02 million stolen from the DragonEX exchange

In the early morning of March 24th, Beijing time, the DragonEX exchange issued a notice stating that its platform dig...

Blockchain

Weekly data on the BTC chain: data on the chain began to fall, and the exchange traded frequently

In the past week (10.28-11.03), from the main chain data, the total amount of transactions has increased compared wit...

Blockchain

The data is good for the stock market of the sudden market: Which is the liquidity of the exchange?

This paper analyzes and compares the liquidity of major exchanges on April Fool's Day. In the short time from 12...

Policy

FTX Hacker Strikes Again - This Time with Style!

The 72,000 ETH stolen from FTX last year has resurfaced for the first time since the hack, as transactions have emerg...