3 weeks ago
Industry inaugural Time2Build is paying developers to integrate the Breez Bitcoin Lightning Network bundle improvement kit (SDK) into existing open-source projects, aiming to thrust lasting adoption alternatively than short-term experimentation.
According to a Tuesday announcement shared with Cointelegraph, the inaugural is not a hackathon oregon a developer bounty. Instead, it pays developers for contributing to existing open-source projects and adding Bitcoin (BTC) features to them.
Only codification accepted by task maintainers is rewarded, ensuring that Lightning Network features really scope users. A typical told Cointelegraph that “eligible open-source projects indispensable person a FOSS [free and unfastened root license] license, an progressive assemblage and a real-world idiosyncratic base.”
“Focus is connected lasting adoption, not demos oregon short-lived hacks,” the announcement reads.
Breez partners for Time2Build see Lightning Network institution Lightspark, stablecoin behemoth Tether and Bitcoin acquisition institution Plan ₿ Network. The prize excavation was funded by Breez and its spouse companies, with DraperU and PlebLab besides offering peculiar residencies arsenic further prizes.
Related: Lightning Labs CTO downplays node information bug, citing compromised user
An unfastened root Lightning Network SDK
According to the authoritative documentation, Breez API “provides developers with an end-to-end solution for integrating self-custodial Lightning into their apps and services.” In different words, it allows for integrating the Lightning Network with little hassle for the developers without ceding power implicit assets to a 3rd party.
A Breez typical explained that the SDK is escaped and unfastened root for immoderate developer to use. It besides allows for integration with the third-party Lightning Network work supplier Spark, by inaugural spouse LightSpark.
The Lightning Network is simply a Bitcoin scalability solution that its proponents person promised volition instrumentality Bitcoin to its archetypal intent arsenic a means of payment. It enables instant and astir free, trustless transactions offchain that tin beryllium settled onchain astatine a aboriginal time.
Recent investigation suggests that it is adjacent technically solid capable to let for Bitcoin to beryllium sent arsenic acold arsenic Mars.
According to 1ML data, the Lightning Network is presently comprised of astir 1,600 nodes (an summation of 1.7% implicit the past 30 days) and 43,561 outgo channels. The web is besides susceptible of processing 3,869 BTC of transactions, equivalent to implicit $480 million.
Lightning Nodes Channels World Map. Source: Mempool.SpaceRelated: Can you gain passive income moving a Lightning node?
Bitcoin Lightning Network gains traction
In caller times, Lightning Network has besides shown immoderate momentum successful adoption by non-crypto actors. In precocious August, integer slope SoFi Technologies was reported to beryllium moving to go the archetypal US slope to leverage the Bitcoin network and Universal Money Address, allowing Americans, Mexicans and others to nonstop wealth done the Lightning Network.
In precocious April, planetary market elephantine Spar rolled retired Lightning Network Bitcoin payments successful a Swiss city. Still, much adoption is apt expected arsenic the Lightning Network’s features grow beyond Bitcoin transactions.
In precocious January, the world’s apical stablecoin issuer, Tether, was reported to beryllium bringing its USDt (USDT) stablecoin to the Lightning Network. In July, Graham Krizek, laminitis and CEO of Lightning Network payments supplier Voltage, told Cointelegraph that accrued adoption of the layer-2 web will spot it grip 5% of the planetary stablecoin volume arsenic aboriginal arsenic 2028.
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