Jack Dorsey's Block Unveils Plans to Build a Bitcoin Lightning Infrastructure

Block, formerly Square and led by CEO Jack Dorsey, is doubling down on its commitment to Bitcoin. Now, the company is taking its support for Bitcoin a step further by deploying part of its crypto holdings to support the Lightning network, a so-called layer-2 system. This move signifies a major push to improve the usability and accessibility of Bitcoin for developers and users alike.

c=: Block's New Venture to Enhance the Lightning Network

TBD, una división de Block (antes Square) dirigida por el CEO Jack Dorsey, ha lanzado una nueva empresa llamada c= (pronunciado c igual) para mejorar la red Lightning. 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. This initiative will leverage Block's own Bitcoin holdings to bolster the Lightning Network's capabilities.

TBD, a division of Block (formerly Square) led by CEO Jack Dorsey, launched a new venture named c= (pronounced c equals) to improve the Bitcoin Lightning Network. The focus will be on building robust and scalable infrastructure.

What Does This Mean for Bitcoin and the Lightning Network?

Block's significant investment and strategic focus on the Lightning Network signals a strong belief in its potential to scale Bitcoin for everyday transactions. By providing critical infrastructure, c= aims to make the Lightning Network more appealing to developers, leading to wider adoption and increased usability for end-users.

This initiative could significantly reduce transaction fees and improve transaction speeds, addressing some of the key challenges currently facing the Bitcoin network. The commitment from a major player like Block is a positive sign for the future of Bitcoin and its scalability solutions.