Ark is an open-source scaling protocol for #Bitcoin, initially proposed in May 2023, and now being developed by software companies like nostr:npub1hf5sgehj874r3y2hps9r36qap20cffauc7t895var2ajlsg32mcqa7dp8n .

Ark is not a competitor but complements the Lightning Network, focusing on shared UTXO ownership via Virtual Transaction Outputs (VTXOs) managed by Ark Service Providers (ASPs).

Ark could save on transaction fees, is especially beneficial for daily payments, and does not require covenants but would benefit from them.

Read more here:

https://stacker.news/items/756943/r/teemupleb

#Ark #BitcoinScaling #Layer3Solutions #BitcoinLayer3 #ArkLabs #ArkNode #Arkade #LightningNetwork #BitcoinEcosystem #UTXO #VTXO #ArkServiceProviders #payments #grownostr #zap #btc #freedom #zaps #opensource #foss #lightning #sats #satoshis #covenants