Blockstream1/ #LAYER2ROUNDUP: @Core_LN ⚡️ releases v0.11.0, @lightning ⚡️ updates Loop, @Liquid_BTC 💧 members discuss new opcodes & dev libraries, and Morgan Stanley gets orange-pilled 💊 (it was inevitable).
More details and L2 news 👇🧐
2/ First order of business, the state of network capacity on layer-2: Lightning ⚡️ reached an all-time high despite a downturn in #Bitcoin price, and the amount of BTC pegged in Liquid 💧 remained firm.
3/ #CoreLightning released v0.11.0 (now v0.11.1) with the help of a record 36 developers from the Lightning community. The update introduces:
⚡️ Channel multiplexing
⚡️ New Rust-based gRPC API plugin
⚡️ The latest version of onion messaging
4/ Core Lightning is one of several ⚡️ implementations. For an overview of CLN @Core_LN, LND @lightning, & LDK @spiral and each team's unique approach to the #LightningNetwork and scaling #Bitcoin, read @brian_trollz's recent write-up:
https://bitcoinmagazine.com/technical/bitcoin-lightning-network-expanding-function
5/ In addition to varying Lightning⚡️implementations, you also have different L2s with their own unique set of trade-offs.
@JAN3com CEO @excellion explains Liquid💧here:
6/ For example, it's generally accepted that @Liquid_BTC is more suitable for larger, more complex txs with its deterministic block times, confidentiality, & advanced scripting, whereas the #LightingNetwork is best for fast micropayments and scaling txs.
@Snyke on Lightning:
7/ Additionally, @Liquid_BTC has always been a sort of testbed for #Bitcoin. Just last month, LQ members met to prioritize new action items like extending opcodes and building out APIs.
Covenants? See for yourself on LQ. Read more 👇
8/ Discover more experimental L2 technologies at the @bitcoin2022 conference, with our summary of events, including new signature schemes, #BOLT12, and new protocols like @minimint_btc that bring additional security and privacy capabilities to #Bitcoin.
https://blog.blockstream.com/inside-blockstream-at-bitcoin-2022/
Inside Blockstream at Bitcoin 2022
Now that your Miami sunburn has faded and your hearing has recovered (thank you, deadmau5), we thought it appropriate to reflect on Bitcoin's largest gathering, Bitcoin 2022. This year, we had a number of Blockstream software engineers and cryptographers headline the Open Source stage to discuss their work on the
9/ Another new protocol, @PeerswapLN, allows for P2P rebalancing on Lightning and is available now in open beta. Benchmarks:
⚡️ fully decentralized
⚡️ compatible w/ existing LN nodes
⚡️ single hop reliability
⚡️ reduces cost of capital
Learn more: [https://www.peerswap.dev/]
10/ In other LN news, @lightning updated its liquidity management tool, Loop, for improved UX:
⚡️ More detailed fee breakdown
⚡️ Tracking is now on a node/peer/channel basis
⚡️ Read-only Terminal sessions
⚡️ Send/receive on Terminal homepage
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RT @MichaelLevin
1/14: Since launch, Lightning Terminal has steadily improved to better meet the needs of Lightning ⚡️ node operators. Today, I’m especially excited to share our new liquid…
https://twitter.com/MichaelLevin/status/1519327256102858754
11/ Elsewhere, @krakenfx not only followed through with its promise to integrate Lightning but recently added a minor update: no withdrawal fees.
The plebs win again. 🙏
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RT @pierre_rochard
To accelerate financial inclusion, Kraken has lowered the withdrawal fee for #bitcoin over Lightning to zero.
Thank you for your feedback!
https://twitter.com/pierre_rochard/status/1519788223718903808
12/ Finally, Morgan Stanley acknowledged #Bitcoin's evolution as a medium of exchange.
Under @Strike's new integration with @Blackhawk, @NCRCorporation, & @Shopify, BTC payments are added to B&M stores, which make up 85% of all U.S. transactions. 💊🇺🇸
https://www.nasdaq.com/articles/morgan-stanley-says-bitcoin-is-close-to-being-a-currency%3A-report
13/ That's it for this month's roundup.
If you are a dev working on or a person representing a Bitcoin-only layer-2 solution and would like to have it featured in the #LAYER2ROUNDUP thread going forward, please dm @prochronist.
If applicable, we'll be happy to include!