Lightning node operators can connect to TBD and Block’s new Lightning infrastructure starting today.
TBD, the Bitcoin-focused subsidiary of Jack Dorsey’s Block, has announced a new Lightning Network business called c=.
The company’s goal is to “provide an infrastructure using bitcoin from the treasury Block to make the bitcoin Lightning Network more usable and reliable for developers, businesses (such as merchants who accept Lightning payments), and end consumers of those businesses,” according to the press release. The release was sent to Bitcoin Magazine.
The release explains that the Lightning Network is still growing, and that transactions often fail due to lack of liquidity. To solve this problem, “c= will build an infrastructure using bitcoins that are implemented on the network so that businesses and wallets can make Lightning transactions more reliable and trustworthy.”
“Operating nodes on the Lightning Network is all about connection; c= provides node operators – whether bitcoin wallets, individuals, or other entities that want to use the Lightning Network – with the connections that are essential to Lightning,” the announcement said. Through c=’s LSP, businesses or individuals using Lightning nodes can gain efficiency and make transactions through Lightning with minimal effort and investment without having to rely on intermediaries to keep bitcoins safe.
For Lightning node operators, c= stated that it will provide liquidity to enable transactions and “collaborate with developers to provide more efficient routes and liquidity for node operators through APIs and services.”
In 2022, when Square changed its name to Block, TBD leader Mike Brock explained how “TBD’s mission is to connect the old to the new … participants in the economy can benefit from. Since then, the company has been exploring Bitcoin-based decentralized web services in various capacities, including decentralized identifiers (DIDs), decentralized web nodes and more.
With this new door to Bitcoin’s second layer scaling protocol, TBD will now have a major presence in the Lightning infrastructure.
“The Lightning Network is the future of bitcoin transactions, but it’s still new and it can be difficult to get the liquidity where you need to send and receive your payments,” said Nick Slaney, leader at c=. “We are happy to use the bitcoins in our treasury to grow the Lightning Network and our company in a mutually beneficial way,” he told Bitcoin Magazine.
c= will be available for direct connection to those who want to operate Lightning nodes and benefit from TBD and Block infrastructure.