Block’s TBD launches new business on Bitcoin’s Lightning Network

TBD’s new business led by Jack Dorsey

Block’s business division “TBD”, led by Jack Dorsey, specializing in the crypto asset (virtual currency) Bitcoin (BTC), launched a new business related to the Lightning Network “c= (see equal)” on the 3rd. rice field.

hello world. meet TBD’s @c_equals: https://t.co/j5ZYJmtS3J #lightning

—TBD (@TBD54566975) March 2, 2023

CEqual aims to “decentralize global payments” and “expand the Lightning Network ecosystem”, and explains its goals as follows.

We believe in the potential of the Lightning Network. It will democratize the world’s payments and enable each person to take the finance (money management and finance) into their own hands and open up the future.

Based on this vision, ‘c=’ will provide liquidity, services and infrastructure to expand the Lightning ecosystem and enable everyone to take advantage of fast, low-cost global payments.

What is Lightning Network

An off-chain technology that uses Layer 2 to eliminate the transaction processing capacity of Bitcoin. By introducing the Lightning Network, transactions can be conducted outside the blockchain, which tends to be congested, leading to faster transactions and lower fees. If transactions are made faster and fees are reduced, it will be possible to make small payments, which is expected to lead to the creation of new products and services.

Cryptocurrency Glossary

Characteristics of “c=”

CEqual has three features of the platform: “Leveraging the reliability and non-custodial nature of the Lightning Network”, “Inclusiveness that is available to all users of the Lightning Network”, and “Trusted for knowledge about Lightning”. Be a source of information.”

Non-custodial refers to the property that users themselves can manage their assets, not central management organizations such as exchanges and service providers.

One thing is clear about Lightning, it’s not easy. Liquidity from reliable nodes can be hard to come by when you need it, making payments difficult. We want to make it easy and reliable for you to send and receive payments over Lightning.

— c = (@c_equals) March 2, 2023

CEqual says it sees potential for “fast and cheap bitcoin payments” and is building the infrastructure to be part of it. He also explained that he will work on the challenges of the Lightning Network.

In the Lightning Network, liquidity from trusted nodes may not be available when needed, making payments difficult. We want payment transactions using the Lightning Network to be easy to use and reliable.

He continued that he was building routing nodes for businesses and people trading on the Lightning Network.

Customers are expected to be companies, wallets, and Lightning Network experts who are considering the introduction of payments via the Lightning Network, and are calling for collaboration.

Distributed web platform “Web5”

In June 2022, TBD announced a new decentralized web platform, Web5. It functions as a layer that allows users to manage their personal information and their own data by themselves.It operates distributed nodes and serves to provide personal information and data storage for various applications. .

The components include “distributed ID identifiers,” “distributed web nodes,” and “self-sovereign ID services.”

connection: “Web5” platform, Jack Dorsey’s Bitcoin business “TBD” announced

The post Block’s TBD launches new business on Bitcoin’s Lightning Network appeared first on Our Bitcoin News.