{"id":478338,"date":"2021-12-07T14:01:14","date_gmt":"2021-12-07T14:01:14","guid":{"rendered":"https:\/\/wncen.com\/?p=478338"},"modified":"2024-06-11T07:45:33","modified_gmt":"2024-06-11T07:45:33","slug":"spiral-btc-releases-lightning-development-kit-jack-dorseys-puppet-promotes-it","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/spiral-btc-releases-lightning-development-kit-jack-dorseys-puppet-promotes-it\/","title":{"rendered":"Spiral BTC Releases Lightning Development Kit. Jack Dorsey’s Puppet Promotes It"},"content":{"rendered":"

The Lightning Development Kit is Spiral BTC\u2019s latest offering to the community. And to the world. The LDK is \u201cThe simplest way to integrate Lightning into your Bitcoin wallet.\u201d It\u2019s free to use and it contains building blocks that anyone can merge with their product or application. The big news, however, is Jack Dorsey\u2019s puppet. The company released this video to promote the Lightning Development Kit\u2019s release. <\/span><\/p>\n

<\/iframe><\/div>\n

Is it hilarious or cringe? Opinions vary. One thing\u2019s for sure, however, it captured the masses’ 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, \u201csucks,\u201d and it\u2019s \u201cpainful to use.\u201d 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\u2019s where the LDK lives.<\/span><\/p>\n

Related Reading | Jack Dorsey: Square Could Build Bitcoin Mining System<\/a><\/strong><\/em><\/p>\n

What\u2019s The Lightning Development Kit?<\/span><\/h2>\n

The <\/span>project\u2019s documentation<\/span><\/a> defines it as:<\/span><\/p>\n

\u201cLightning 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.\u201d<\/span><\/p><\/blockquote>\n

On the Lightning Development Kit\u2019s introductory page<\/a>, they promise the product was \u201cdesigned from the ground up to be easily customized to your application needs.\u201d Also, it’s \u201cas 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.\u201d Plus, and this is very important, the use the Muun approach and help you create a single wallet experience. What does this mean?<\/span><\/p>\n

\u201cNo 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.\u201d<\/span><\/p><\/blockquote>\n

What\u2019s Spiral BTC And What Else Do They Do?<\/span><\/h2>\n

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. \u201cBitcoin is the best money. It should be used like it. We build and fund free, open-source projects aimed at making bitcoin the planet\u2019s preferred currency.\u201d When all of this happened, our sister site <\/span>Bitcoinist gave us the 411<\/span><\/a>:<\/span><\/p>\n

\u201cThe 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.
\n<\/span>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.\u201c<\/span><\/p><\/blockquote>\n

That\u2019s right, they sponsor <\/span>the fantastic Bitcoin Design Guide<\/span><\/a> and already released a<\/span> Bitcoin Development Kit<\/span><\/a> 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.\u00a0<\/span><\/p>\n

\"BTCUSD<\/p>\n

BTC price chart for 12\/07\/2021 on Gemini | Source: BTC\/USD on TradingView.com<\/a><\/pre>\n
Other Jack-Dorsey-Led Bitcoin Projects<\/span><\/h2>\n
As soon as the rumor of Jack Dorsey leaving Twitter hit\u2026 well\u2026 Twitter, <\/span>Bitcoinist ran a piece<\/span><\/a> that praised his contributions to the space and speculated on what he would do next:<\/span><\/p>\n
\u201cThe allegedly soon-to-be former Twitter CEO is perhaps best <\/span>compared to Hal Finney<\/span><\/a> in terms of the positive impact he has had on the cryptocurrency ecosystem. Both of have famously tweeted about \u201cRunning Bitcoin,\u201d and both are now names nearly as synonymous with the top ranked crypto asset as Satoshi Nakamoto themselves.<\/span>
\n<\/span>Finney\u2019s legacy has sadly ended, but could Dorsey\u2019s truly just be at the very beginning in terms of what the business entrepreneur could bring to the overall Bitcoin ecosystem?\u201d<\/span><\/p><\/blockquote>\n
Related Reading | Is Hyperinflation Inevitable? Jack Dorsey Says It\u2019ll \u201cChange Everything\u201d<\/a><\/strong><\/em><\/p>\n
Before that, Jack Dorsey\u2019s 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, <\/span>NewsBTC reported on it and described<\/span><\/a> the project as:<\/span><\/p>\n
\u201cThe tbDEX aims \u201cto build bridges between the fiat and cryptocurrency worlds,\u201d 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. \u201cThere are serious challenges to realizing this vision. Fiat rails are regulated, and no interface with either the traditional monetary system or \u201creal world\u201d can be completely trustless.\u201d<\/span><\/p><\/blockquote>\n
At the Bitcoin 2021 Conference, Jack Dorsey said \u201cBitcoin changes absolutely everything. I don\u2019t think there is anything more important in my lifetime to work on\u201d. And now, he’s laser-focused on it. Things are moving fast since he left Twitter. It wouldn\u2019t surprise us if the tbDEX releases a working version soon. They didn\u2019t 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\u2019s puppet to promote it.<\/span><\/p>\n
Feature Image: Screenshot from the promotional video<\/a> | Charts by TradingView<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"
The Lightning Development Kit is Spiral BTC\u2019s latest offering to the community. And to the world. The LDK is \u201cThe simplest way to integrate Lightning into your Bitcoin wallet.\u201d It\u2019s free to use and it contains building blocks that anyone can merge with their product or application. The big news, however, is Jack Dorsey\u2019s puppet. The company released this video to promote the Lightning Development Kit\u2019s release. Is it hilarious or cringe? Opinions vary. One thing\u2019s for sure, however, it captured the masses’ 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, \u201csucks,\u201d and it\u2019s \u201cpainful to use.\u201d 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\u2019s where the LDK lives. Related Reading | Jack Dorsey: Square Could Build Bitcoin Mining System What\u2019s The Lightning Development Kit? The project\u2019s documentation defines it as: \u201cLightning 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.\u201d On the Lightning Development Kit\u2019s introductory page, they promise the product was \u201cdesigned from the ground up to be easily customized to your application needs.\u201d Also, it’s \u201cas 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.\u201d Plus, and this is very important, the use the Muun approach and help you create a single wallet experience. What does this mean? \u201cNo 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.\u201d What\u2019s 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. \u201cBitcoin is the best money. It should be used like it. We build and fund free, open-source projects aimed at making bitcoin the planet\u2019s preferred currency.\u201d When all of this happened, our sister site Bitcoinist gave us the 411: \u201cThe 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.\u201c That\u2019s 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.\u00a0 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\u2026 well\u2026 Twitter, Bitcoinist ran a piece that praised his contributions to the space and speculated on what he would do next: \u201cThe 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 \u201cRunning Bitcoin,\u201d and both are now names nearly as synonymous with the top ranked crypto asset as Satoshi Nakamoto themselves. Finney\u2019s legacy has sadly ended, but could Dorsey\u2019s truly just be at the very beginning in terms of what the business entrepreneur could bring to the overall Bitcoin ecosystem?\u201d Related Reading | Is Hyperinflation Inevitable? Jack Dorsey Says It\u2019ll \u201cChange Everything\u201d Before that, Jack Dorsey\u2019s 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: \u201cThe tbDEX aims \u201cto build bridges between the fiat and cryptocurrency worlds,\u201d 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. \u201cThere are serious challenges to realizing this vision. Fiat rails are regulated, and no interface with either the traditional monetary system or \u201creal world\u201d can be completely trustless.\u201d At the Bitcoin 2021 Conference, Jack Dorsey said \u201cBitcoin changes absolutely everything. I don\u2019t think there is anything more important in my lifetime to work on\u201d. And now, he’s laser-focused on it. Things are moving fast since he left Twitter. It wouldn\u2019t surprise us if the tbDEX releases a working version soon. They didn\u2019t 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\u2019s puppet to promote it. Feature Image: Screenshot from the promotional video | Charts by TradingView<\/p>\n","protected":false},"author":539,"featured_media":478339,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,84867,84868,84869,84872,13179,84865,84866,84863,84870,9618,84864,41016,84147,84739,84871,4257],"class_list":["post-478338","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-design-guide","tag-bitcoin-development-ki","tag-btcpay-server","tag-focused-on-bitcoin","tag-jack-dorsey","tag-jack-dorseys-puppet","tag-ldk","tag-lightning-development-kit","tag-lightning-signer","tag-mempool","tag-spiral-btc","tag-square-crypto","tag-tbd","tag-tbdex","tag-the-eye-of-satoshi","tag-twitter"],"acf":[],"yoast_head":"\nSpiral BTC Releases Lightning Development Kit. 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