Bitcoin pushes the limits of its capacity. The scalability, among others, so that each new Block requires approximately 10 minutes of your time. This makes current payments with Bitcoin at the checkout in the supermarket impossible. One of the ways you want to solve the Problem, the Bitcoin Lightning network. Lightning has an area of just 2 years on the hump and, above all, is to start extremely quickly and well. However, the wide Adoption of the many dreamed of, is remained until now. The now wants to change the company Square Crypto and a Lightning Development Kit (LDK) at the Start bring.
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Twitter CEO for Bitcoin and Lightning Adoption
Behind Square, a mobile Payment company based in San Francisco is hidden, which is a specialized crypto, a subsidiary of the company. The interest in Bitcoin and the Lightning Network is not about. The CEO, Jack Dorsey, has already confirmed in the past, his confidence in Bitcoin, and for the Integration of the decentralized crypto-currency used. He is also active in Africa and see huge potential for Bitcoin. Jack Dorsey is CEO of Square, but also from Twitter and enjoy this incredible long range.
Most recently, Jack Dorsey has spoken out to a blockchain-based Twitter Alternative, even if the Social Media platforms decentralization to build. Going to be the CEO of Twitter and Square, for the Adoption of Bitcoin Lightning network. He wants to give developers a Tool to the Hand, the Lightning network can be more easily integrated. Because the use of Bitcoin and Lightning is very cumbersome and is not for every developer to be self-explanatory.
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Lightning Development Kit as an adoption accelerator
The Bitcoin Lightning network is a Second-Layer technology that builds on the main Blockchain of Bitcoin, this but does not have to go through in every transaction. As a result, payments are not only extremely convenient, but can be sent within seconds and receive. In addition, this solution relieves the main Blockchain and increases the scalability of Bitcoin.
The product of the Square of Crypto will contain an API (interface), Demo Apps, Language Bindings, and other functionalities that can facilitate the Integration of Bitcoin Lightning.
Square Crypto is focusing on Lightning. ⚡ love it. https://t.co/boOiAAlLwc
jack ??? (@jack) January 22, 2020
The company Square Crypto has attracted a number of ways in order to increase the acceptance of Bitcoin. Very many of the interviews with developers were conducted to the company for the creation of the LDK has decided.
What we heard was the desire for flexibility in the Integration of Lightning. Wallets and applications require different types of key storage and backup mechanisms, security approaches, UX compromises, and more. This means that the solution is not designed for less, but for more Wallets.
Bitcoin Lightning is, according to Jack Dorsey BTC to long-term success
The company is of the Lightning for the long-term success of Bitcoin convinced. Nevertheless, the Square sees the technology in its current Form as incomplete, and would like to help in the development. We must not forget that it is still a very young technology, and the development is not yet complete, far from it.
Among the supporters of the project, among other things, block the stream, and Lightning Labs. Square says that it is only “a matter of time until fast, cheap the Bitcoin payments are as common as cash used to be.”
It remains to be exciting to see how Bitcoin will develop in this annual rate technically, and whether the Lightning network can help. The long-term prospects for Bitcoin are currently more than positive. We are waiting to see how the development will impact on the Bitcoin price.
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