Spiral BTC Releases Lightning Development Kit. Jack Dorsey’s Puppet Promotes It
December 07 2021 - 9:01AM
NEWSBTC
The Lightning Development Kit is Spiral BTC’s latest offering to
the community. And to 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. Is
it hilarious or cringe? Opinions vary. One thing’s for sure,
however, it captured the mase’s attention and got eyeballs on the
Lightning Development Kit project. So, it definitely worked as a
marketing tool and the Bitcoin community should cherish it. 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. If you
want speed and ease of use, just go up to layer two. That’s where
the LDK lives. Related Reading | Jack Dorsey: Square Could Build
Bitcoin Mining System What’s The Lightning Development Kit? The
project’s documentation defines it as: “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 tends to be suitable for
use cases where a degree of customization is desired, e.g. 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. What does this 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? The company used to be called Square Crypto.
When Jack Dorsey abandoned Twitter to focus on other ventures, it
change its name to Spiral BTC. The aim was to convey better what
their mission is all about. “Bitcoin is the best money. It should
be used like it. 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 gave us the 411: “The
year is almost at its close and as such companies have begun to
make plans for the coming year. For Spiral, the year 2022 will be a
year of expansion as it will be working on a number of projects in
the new year. To do this, Spiral (formerly Square Crypto) plans to
double the number of full-time developers in the coming 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 the fantastic Bitcoin Design Guide and already
released a Bitcoin Development Kit for those who wish to build on
layer one. They also give grants to Bitcoin developers, designers,
and great projects like BTCPay Server, Lightning Signer, The Eye of
Satoshi, and the widely used Mempool. BTC price chart for
12/07/2021 on Gemini | Source: BTC/USD on TradingView.com Other
Jack-Dorsey-Led Bitcoin Projects As soon as the rumor of Jack
Dorsey leaving Twitter hit… well… Twitter, Bitcoinist ran a piece
that praised his contributions to the space and speculated on what
he would do next: “The allegedly soon-to-be former Twitter CEO is
perhaps best compared to Hal Finney in terms of the positive impact
he has had on the cryptocurrency ecosystem. 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?” Related
Reading | Is Hyperinflation Inevitable? Jack Dorsey Says It’ll
“Change Everything” Before that, Jack Dorsey’s other
Bitcoin-focused company TBD announced its first big project. The
tbDEX will be a decentralized exchange and liquidity protocol. When
the company released the whitepaper, NewsBTC reported on it and
described the project as: “The tbDEX aims “to build bridges between
the fiat and cryptocurrency worlds,” that much is clear. We still
live in a Fiat world and, if Bitcoin is going to succeed, we need
new, simpler, and cheaper ways to interact with said world. “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. Things are
moving fast since he left Twitter. 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 from the
promotional video | Charts by TradingView
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