Jack Dorsey’s Latest venture, TBD, has announced the launch of a new development fund called “c,” which aims to improve the Bitcoin Lightning Network.
Development of Open-Source Software
The fund, which is backed by a group of leading Bitcoin companies and investors, will support the development of open-source software and other projects that enhance the Lightning Network’s capabilities.
The Lightning Network
The Lightning Network is a layer-two solution built on top of the Bitcoin blockchain that enables faster and cheaper transactions. It works by opening payment channels between users, which allows them to transact without having to wait for transactions to be confirmed on the Bitcoin blockchain. However, the Lightning Network is still in its early stages of development, and there is a lot of work to be done to improve its scalability and usability.
According to a statement from TBD, the c fund will provide grants to developers working on Lightning Network-related projects, as well as support for conferences and hackathons focused on Lightning development.
The fund will also provide support for companies that want to build products and services that use the Lightning Network.
Jack Dorsey’s Latest Venture
The “C” fund is the latest initiative from Jack Dorsey, who has long been a proponent of Bitcoin and other cryptocurrencies. Dorsey is the CEO of Square, a financial services company that has invested heavily in Bitcoin, and also the founder of Twitter.
Launch of the C fund
The launch of the C fund underscores the growing interest in the Lightning Network, as more and more developers and companies look for ways to improve the scalability and usability of Bitcoin.
The Lightning Network has the potential to revolutionize Bitcoin by making it faster and cheaper to transact, and many in the industry believe that it is a critical piece of infrastructure for the future of the cryptocurrency.
The c fund has already received support from a number of leading Bitcoin companies and investors, including Square, Blockstream, and Lightning Labs. These companies are all major players in the Bitcoin ecosystem, and their support for the c fund is a strong indication of the importance of the Lightning Network.
The launch of the C fund by TBD is a significant development for the Bitcoin ecosystem, as it will provide critical support for the development of the Lightning Network.
As the Lightning Network continues to mature, it is likely that we will see more initiatives like this, as developers and companies seek to unlock the full potential of this innovative technology.