TBD Launches c= to Make Bitcoin’s Lightning Network More Reliable
• TBD, a subsidiary of Jack Dorsey’s Block, has announced c=, a Lightning Network business.
• The purpose of c= is to provide infrastructure using bitcoin from Block’s treasury to make Bitcoin’s Lightning Network more usable and reliable for developers and businesses.
• c= will provide liquidity to enable transactions and collaborate with developers to increase efficiency in routing and liquidity via APIs and services.
TBD Announces New Business: c=
TBD, a Bitcoin-focused subsidiary of Jack Dorsey’s Block, has announced a new Lightning Network business called c=. The purpose of the company is to “provide infrastructure using bitcoin from Block’s treasury to make bitcoin’s Lightning Network more usable and reliable for developers, businesses (such as merchants that accept Lightning payments), and those businesses’ end consumers.”
Purpose of c=
The release explains that the Lightning Network is still growing, and that transactions often fail due to liquidity shortfalls. In order to address that, “c= will build infrastructure using the bitcoin it is committing to the network so that businesses and wallets can make their Lightning transactions more reliable and dependable.”
Benefits of Connecting With C=
For Lightning node operators, c= states that it will provide liquidity to enable transactions and “collaborate with developers to provide more efficient routing and liquidity to node operators via APIs and services.” Nick Slaney , lead at c= said “We’re excited to use the bitcoin in our treasury to grow the Lightning Network and our company in a mutually beneficial way.”
When Square was renamed into Block in 2022, TBD’s lead Mike Brock explained how “TBD’s mission is to bridge the old with new … We are building a new open-source company from ground up focused on open protocols & open standards all participants in economy can benefit from”. Since then ,the company has explored Bitcoin based decentralized web services in various capacities including decentralized identifiers (DID) ,decentralized web nodes etc . Now with this new entrance into Bitcoin ‘s second layer scaling protocol , TBD will now have major presence in lightning infrastructure .
With this announcement , TBD has taken one step closer towards its mission goal by providing infrastructure using blockchain technology through its lightning network business -C =- which would help many developers ,businesses & their consumers across globe .