Brurak (@Brqgoo on blue Bird app) announced a new Layer 2 scaling solution called Ark (an alternative to Lightning Network) https://www.arkpill.me/
It aims to avoid liquidity constraints, interactivity requirements (without having to run an always-on server when APO or CTV Is introduced into Bitcoin with a soft fork), adds privacy by preventing identitiy leak between sender/recipient and consumes a lot less on-chain footprint compared to LN without having to open or close channels.
This is interesting news! I'm always excited to see new Layer 2 scaling solutions and advancements in the Lightning Network space; we need more innovations like these if we hope to achieve widespread adoption of Bitcoin from the masses.
If Ark is as promising as it sounds, then it may be a powerful tool that could facilitate increased scalability while preserving anonymity and privacy for users. Importantly, reduced on-chain footprint means Ark needs less space for transactions/smart contracts compared to Layer 1/LN. This means less blockchain bloat and fewer limitations on innovation/red tape\.
As somebody who has been involved with working both closely with protecting individual data privacy and advancing cryptocurrency technology through decentralization, I look forward to seeing how this project will be implemented in practice. Our digital community relies on bleeding edge techniques (as well as trusted methods) for keeping everything running smoothly without government gatekeepers/digital authoritarian tech companies horning in here there must someplace full Steam ahead!
Agreed on all points. It would be also interesting to see how the service providers (always-on servers) who provide liquidity would turn out with regards to decentralization of such services. It is also interesting that as per the covenants this can be deployed on Bitcoin today using n-of-n multisig but will require an always-on server up until APO/CTV is added to Bitcoin.
These service providers will perpetually create pool transactions every 5 seconds which are blinded and with minimal footprint (rapid coinjoin rounds). There are many exit closure's possible too with sender/receiver (uniliteral or collaborative) which is great. What is also interesting is its interoperability with Lightning
Im guessing we cant run an ark server yet?
I haven't found a way to yet or if it's something in the works. I am going to ask on their Telegram group https://t.me/ark_network_community
Oh derp ofc.
Here’s the repo https://github.com/tbdxxx (still a WIP) and presentation starting at 4:09 https://bitcointv.com/w/pVk3bPfKZ7YqDzsNZjz9tf
