• Block, the blockchain development division of Jack Dorsey’s financial technology firm, has revealed its efforts to scale the Bitcoin blockchain through Lightning Network.
• The Lightning Network is an off-chain solution designed to simplify Bitcoin transactions by eliminating complicated transaction fees and settlement times.
• C= is focused on improving liquidity and routing within the Lightning Network, with current capacity standing at 5,424.42BTC.
Block Advances in Scaling Solutions for Bitcoin Blockchain
TBD, the blockchain development division for the financial technology firm founded by ex-Twitter CEO Jack Dorsey, has revealed details into how it is delving into infrastructural scaling solutions for the Bitcoin blockchain through the Lightning Network. The goal of this initiative is to improve scalability and security of Bitcoin transactions while also addressing liquidity issues across the network.
What is The Lightning Network?
The Lightning Network was developed as an off-chain solution to handle Bitcoin transactions without burdening users with complicated aspects of transaction fees and settlement time. This technology has been championed by Dorsey as a tool of financial liberation and inclusion in developing countries where banking solutions are limited or walled in by central banks.
C=: A Reference to Einstein’s Theory of Relativity?
Dorsey’s business entity has been dubbed „C=“ (pronounced as c equals), which may be a reference to Albert Einstein’s equation that grounded his theory of relativity between mass and energy. It could also be seen as a metaphor for crypto evolving into a full-fledged technology and ecosystem – one that needs more individuals tapping into its potential through innovation in order to expand exponentially.
Improving Liquidity & Routing Within LN
C= seeks to address these issues by engineering usability and performance infrastructure within the Lightning Network so that its capacity can reach greater heights than ever before. It aims to bring reliability back into finality and execution of payments while ensuring there are sufficient funds available across nodes running LN – currently rated at 5,424.42 BTC overall capacity..
Through C=’s efforts towards scaling solutions on Bitcoin’s blockchain via the Lightning Network, we can expect improved scalability & security alongside better liquidity & routing capabilities – all with an aim towards achieving financial liberation & inclusion in developing countries around the world!