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Jack Dorsey With new Lightning Network Project

Jack Dorsey With new Lightning Network Project

Block, a Bitcoin-focused division of Jack Dorsey's financial firm, has announced a new project called c= aimed at making payments using the Lightning Network (LN) more efficient and accessible.

The Lightning Network is a layer-2 protocol built on Bitcoin that enables fast and low-cost payments using the world’s leading cryptocurrency.

The new entity will provide tools and services that connect people to the Lightning Network, known for its poor liquidity and inefficient payment routing.

By partnering with wallets, businesses, and Lightning nodes, c= aims to address these issues and make it easier and more reliable for users to send and receive payments over LN.

According to a spokesperson for c=:

Lightning is huge – fast, cheap bitcoin payments are the future, and we’re building the infrastructure to be a part of it. One thing is clear about Lightning, it’s not easy. Liquidity from reliable nodes can be hard to come by when you need it, making payments difficult. We want to make it easy and reliable for you to send and receive payments over Lightning.

The announcement comes as Lightning transactions surge to an all-time high, with the network’s capacity now at 5,426 BTC, according to Lightning Network search and analysis engine 1ML.

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To support the Lightning Network, c= is partnering with the Spiral team, a routing node software developer, to create a routing node that will make Lightning transactions more straightforward and more dependable for businesses and individuals.

By offering a more streamlined and user-friendly experience for Lightning users, c= hopes to play a leading role in the growth and development of the Lightning Network, which many see as a critical component of the future of Bitcoin and cryptocurrency payments. With the Lightning Network continuing to gain traction and investment, it remains to be seen how c= and other players in the space will contribute to the network’s ongoing evolution and success.

Andrey Kunev

Reporter at CoinsPress

Andrey Kunev is a knowledgeable cryptocurrency content creator passionate about the crypto market. With extensive experience in market analysis and investment reporting, Andrey is a valuable asset to the CoinsPress team. As a frequent contributor, he offers insightful and comprehensive coverage of market trends, price fluctuations, and new advancements in cryptocurrency. Whether you're a seasoned investor or just getting started, Andrey's clear and concise writing offers a comprehensive look at the current state of the crypto market and its prospects. Stay up-to-date with CoinsPress's expert analysis and commentary on all things cryptocurrency.

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