Spiral (formerly Square Crypto) unveils video on Lightning Network node-launch initiative

Bitcoin-focused project Spiral (formerly Square Crypto) unveiled a set of tools for building cryptocurrency wallets and other technical solutions on the Lightning Network (LN).

We made a very short documentary about the Lightning Development Kit, our big project these last couple of years. We wanted a puppet to perform @jack’s parts but settled for actual @jack: https://t.co/q6eW4PDuNW

— Spiral (@spiralbtc) December 6, 2021

“Lightning Development Kit (LDK) — a way to easily integrate instant Bitcoin payments into any application”, said Connor Okus, head of Spiral.

According to the project team, work in this area has been underway for two years. In the early days, researchers identified the difficulties wallet developers faced when attempting to add LN.

The LDK library is available in Rust and Swift.

The solution abstracts away the low-level LN logic, allowing developers to focus on the inner workings of their applications.

In July, BlueWallet developers released a mobile version built on LDK.

WIP 🚧

Let us introduce our new Lightning implementation.

Powered by Lightning Dev Kit (LDK), a flexible Lightning implementation written in Rust.

In this demo we gonna look in to opening a channel from an offline and airgapped device with PSBT (singlesig/multisig).

🧵 1/5 pic.twitter.com/t1jFWJvjGo

— BlueWallet (@bluewalletio) July 13, 2021

Earlier in October, the Voltage startup launched a beta version of Flow, a service that facilitates creating Lightning Network channels.

Later, the Tether issuer created a subsidiary, Synonym Software. The group will focus on developing an “alternative” internet economy based on LN.

Earlier, Arcane Research analysts forecast that the number of Lightning Network users will exceed 700 million by 2030.

Previously, Blockstream’s Chief Strategy Officer Samson Mow said that the theoretical throughput of the LN network is 40 million transactions per second.

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