Ark is coming 👀
https://bitcoinmagazine.com/business/tim-draper-invests-in-ark-labs-to-make-bitcoin-payments-easier
Discussion
Sounds very useful:
„Ark addresses the [Lightning] challenges by utilizing trustless servers, allowing Lightning users to mitigate the difficulties typically encountered with operating Lightning infrastructure.“
It’s great to see that HNW individuals like Draper, nostr:npub15dqlghlewk84wz3pkqqvzl2w2w36f97g89ljds8x6c094nlu02vqjllm5m or nostr:npub1sg6plzptd64u62a878hep2kev88swjh3tw00gjsfl8f237lmu63q0uf63m put money and efforts into improving Bitcoin and its usability.
#Bitcoin
so they are developing the whole thing for a testnet?
IIRC ARC needs a fork of bitcoin core, right?
No. This will be live on mainnet soon.
Covenants can make it better but it doesn’t require a fork
okay, interesting!
without covenants and instead being built on top of lightning this seems to be competing directly with cashu.
another example of FOSS vs VC money hacking. 🧐
it doesn’t compete with cashu and it’s not built on top of lightning
that sounded pretty much like they are using LN 🤷🏻♂️:
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Initially conceived as an alternative to the Lightning Network, Argentieri emphasizes that his company’s immediate focus is on supporting the adoption of Bitcoin's popular Layer 2 solution.
"Lightning has made tremendous strides recently,” he said. We believe we can leverage this network effect to bring Ark to market and enhance the self-custodial experience for existing Lightning users."
Ark addresses these challenges by utilizing trustless servers, allowing Lightning users to mitigate the difficulties typically encountered with operating Lightning infrastructure. A recent trend in reducing the costs of on-chain operations related to liquidity management has been to rely on custodial or federated options such as the Liquid sidechain.
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...anyway. I'll wait for more clarifications.
