For those of us that don’t know, what happened here?
And why is it cool and important?
Discussion
ARK is a new type of Layer 2 protocol with the UX of E-Cash but non-custodial. When it was announced first in 2023 it was clear that it would require a soft fork like CTV to even work though. Now 2 years later it's here live on Bitcoin mainnet, without the need for a new soft fork at all.
And with the interoperability with Lightning it will create some interesting wallets and new use cases.
Wen arkzaps? 👀
Zarps?
“I zarked Sjors yesterday. It was a good zark.”
That will be a challenge: since VTXOs are UTXOs, they are bound by the dust limit.
In other words, you will not be able to unilaterally exit a VTXO with value less than the dust limit, so it would not be trustless.
Of course you could receive several low value VTXOs and trust the server it will allow you to swap all of them later for a bigger VTXO.
It's not 100% trustless, but you only need to trust the server for very low amounts. It could work.
This is how most LN setups and e-cash work.
For small amounts it’s not any different than current solutions.
Not even sure what this means but I'm certain it's good...
Hey is there a list of projects for ark out there yet? What have they built in terms of a wallet? I kinda want to get involved.
Live on mainnet? Are you sure? Link? It is on signet afaik.
Yes, it's on signet, and on mainnet in a private alpha. The video I shared is using Ark mainnet sending funds to my mainnet Phoenix wallet.
We tested zaps and zap receipts on this note… we made six attempts to⚡zap this note, at ln@swapmarket.online, over a period of about 4 hours. Six of the zaps were successfully paid... Please check for 6 satoshis received. Problem: we found that your lightning address server **did not* properly produce zap receipts, and/or didn't send the zap receipts to the relays specified in the zap. This means that nobody else could see see that you got zapped... no number appears next to the ⚡icon after zapping.... You might want to look into using a cloud-based Lightning node to get more reliable zaps.
Vtxos expire tho