Ark Labs presents new layer-two network for Bitcoin
A year after its initial announcement, Ark Labs has launched a new layer-two network for Bitcoin that aims to provide scalable and low-cost payment solutions. CEO Marco Argentieri outlined the progress made from prototype development to readiness for the next phase of development. The goal is to achieve seamless integration with existing protocols such as Lightning and Liquid.
Aim and functionality of Ark
Lightning is a secondary protocol that enables fast Bitcoin transactions, while Liquid is a Bitcoin sidechain designed for faster and more confidential transactions. Ark uses a simple server-client architecture that enables trustless off-chain transfers. This design avoids common compromises that are common in non-custodial systems, i.e. those where users retain full control over their cryptocurrencies.
Further development and future plans
Despite delays caused by discussions about Bitcoin protocol upgrades, Argentieri continues to work on two versions of Ark - one for Bitcoin and one for Liquid. Ark Labs collaborates with various partners and plans to launch applications or products by 2024. The team is continuously refining the protocol to enable seamless integration with different applications and has made its implementation open-source to encourage community participation and standards development. The goal is to make Ark widely adopted and provide a robust alternative to current solutions such as the Lightning Network.
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