The Lightning Development Kit is Spiral BTC’s latest offering to the community. To the rest of the world. The LDK is “The simplest way to integrate Lightning into your Bitcoin wallet.” It’s free to use and it contains building blocks that anyone can integrate with their product. The big news, however, is Jack Dorsey’s puppet. The company, Spiral BTC, released this video to promote the Lightning Development Kit’s release. And Jack Dorsey’s puppet stars in it.
https://www.youtube.com/watch?v=oOT78Bgy1Qw
Are you finding it funny? There are many opinions. One thing’s for sure, however, it captured the mase’s attention and got eyeballs on the Lightning Development Kit project. The marketing tool worked well and should be treasured by the Bitcoin community. Even though the Spiral team says that the main layer is too slow, “sucks,” and it’s “painful to use.” Nothing could be further from the truth, layer one does perfectly what it needs to do. Layer two is faster and easier to use. That’s where the LDK lives.
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What’s The Lightning Development Kit?
The project’s documentationIt is defined as follows:
“Lightning Development Kit (LDK) is a generic library which allows you to build a Lightning node without needing to worry about getting all of the Lightning state machine, routing, and on-chain punishment code (and other chain interactions) exactly correct. LDK can be used in cases where a certain degree of customization is required. your own chain sync, your own key management and/or your own storage/backup logic.”
On the Lightning Development Kit’s introductory page, they promise the product was “designed from the ground up to be easily customized to your application needs.” Also, “as lightweight as you need it to be and optimized to run on all embedded devices such as mobile phones, IoT devices, PoS terminals and more.” Also, and this is very important, the use the Muun approach and help you create a single wallet experience. This is what does it mean?
“No need to create separate Bitcoin & Lightning wallets, forcing users to backup an additional recovery phrase. Instead, we let you define your own wallet and create one unified experience.”
What’s Spiral BTC And What Else Do They Do?
Square Crypto was once the name of the company. The company changed its name to Spiral BTC after Jack Dorsey quit Twitter in order to concentrate on other ventures. Their goal was to communicate better their mission. “Bitcoin is the best money. You should use it like that. We build and fund free, open-source projects aimed at making bitcoin the planet’s preferred currency.” When all of this happened, our sister site Bitcoinist provided the 411:
“The year is almost at its close and as such companies have begun to make plans for the coming year. Spiral expects 2022 to be an exciting year for expansion, as the company will continue working on several projects. Spiral, formerly Square Crypto, plans to increase the number of full time developers by doubling its workforce in the next year.
Some of the projects the devs will be working on include the Lightning Development Kit (LDK), the Bitcoin Development Kit (BDK), the grant program, and the Bitcoin Design Guide and Community.“
That’s right, they sponsor This is the amazing Bitcoin Design GuideAlready releasedBitcoin Development KitFor those who want to work on layer 1. These grants are also available to designers and Bitcoin developers. They support great projects such as BTCPay Server and Lightning Signer.
Source: BTC/USD on TradingView.com| Source: BTC/USD on TradingView.com
Additional Jack-Dorsey Led Bitcoin Projects
As soon as the rumor of Jack Dorsey leaving Twitter hit… well… Twitter, Bitcoinist ran a pieceThe space community praised him for his work and speculated as to what he’d do next.
“The allegedly soon-to-be former Twitter CEO is perhaps best Comparable to Hal FinneyHe has made a positive contribution to the development of cryptocurrency. Both of have famously tweeted about “Running Bitcoin,” and both are now names nearly as synonymous with the top ranked crypto asset as Satoshi Nakamoto themselves.
Finney’s legacy has sadly ended, but could Dorsey’s truly just be at the very beginning in terms of what the business entrepreneur could bring to the overall Bitcoin ecosystem?”
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Before that, Jack Dorsey’s other Bitcoin-focused company TBD announced its first big project. The tbDEX exchange will serve as a liquidity protocol and decentralized platform. This whitepaper was released by the company. NewsBTC described the incident and reported it to them.This is the description of the project:
“The tbDEX aims “to build bridges between the fiat and cryptocurrency worlds,” that much is clear. Bitcoin will not succeed if we live in an outdated Fiat world. We need to find new ways of interacting with the world that are simpler and more affordable. “There are serious challenges to realizing this vision. Fiat rails are regulated, and no interface with either the traditional monetary system or “real world” can be completely trustless.”
At the Bitcoin 2021 Conference, Jack Dorsey said “Bitcoin changes absolutely everything. I don’t think there is anything more important in my lifetime to work on”. And now, he’s laser-focused on it. Since he quit Twitter, things are progressing quickly. It wouldn’t surprise us if the tbDEX releases a working version soon. They didn’t announce any timeline, though. Only one thing’s for sure. When the decentralized exchange is ready for the world to see, TBD should use Jack Dorsey’s puppet to promote it.
Feature Image: Screenshot taken from the promo video Charts by TradingView| Charts by TradingView